Unitree Robotics Goes Public on the STAR Market Today
On August 19, the Shanghai Stock Exchange welcomed a new IPO on its STAR Market: Unitree Robotics. The company issued a total of 40.4464 million shares, with 9.707 million shares available for online subscription. The IPO price was set at 150.80 yuan per share, translating to a price-to-earnings ratio of 219.23 times.
Founded on August 26, 2016, with Wang Xingxing as its legal representative, Unitree focuses on the R&D, manufacturing, and sales of high-performance general-purpose humanoid robots, quadruped robots, robotic components, and embodied intelligence models. Wang Xingxing, the controlling shareholder and actual controller, directly holds 23.8216% of the company and controls 68.7816% of the voting rights through a special voting rights arrangement.
Following this issuance, restricted A-shares account for 92.5611% of the total, while unrestricted A-shares make up 7.4389%. In terms of strategic placement, the sponsor’s affiliated entities, the issuer’s senior management and core employee special asset management plans, along with other strategic investors, participated in the placement at a ratio of 20%. The raised funds will primarily be channeled into R&D, production capacity expansion, and market promotion.
Xiaomi’s Lu Weibing: Memory Price Hikes to Slow in H2, New Xuanjie Chip Coming Soon
During the 2026 interim results conference call on August 18, Xiaomi Group President Lu Weibing predicted that memory price increases would moderate in the second half of this year, though the upward trend may persist, keeping storage costs elevated. Xiaomi maintains long-term, trust-based partnerships with its five major memory suppliers and is swiftly adjusting its product mix and launch cadence to boost average selling prices. Looking ahead, Xiaomi will roll out flagship smartphones in H2, and the Xiaomi Automobile Pengcheng series is also set to officially hit the market, which bolsters confidence in the company’s second-half performance.
Lu also revealed that the Xuanjie O1 chip, successfully launched last year, has surpassed one million cumulative shipments across three devices, achieving large-scale validation of a flagship chip. The next-generation Xiaomi Xuanjie chip is also on the verge of release.
On the same day, Xiaomi Group announced in a Hong Kong Stock Exchange filing that its Q2 total revenue reached 108.9 billion yuan. Breaking it down by segment, the “Smartphone x AIoT” division generated 84 billion yuan in revenue, while the “Smart Electric Vehicles and AI” innovative business segment brought in 24.9 billion yuan. The group’s adjusted net profit stood at 6.2 billion yuan.
Pinfen Laser Sets New A-Share Record, One Lot Nets Up to 550,000 Yuan
On August 18, Shanghai Pinfen Laser officially listed on the STAR Market under the stock code 688826. With an IPO price of 186.88 yuan per share, it became the highest-priced new stock on the A-share market in 2026, with investors paying 93,440 yuan for a single lot of 500 shares.
The stock opened at 1,100 yuan, up 488.61% from the IPO price, and continued to surge during the session, peaking at 1,300 yuan with a maximum gain of nearly 596%. Based on the opening price, a single lot yielded a profit of 456,600 yuan; at the intraday peak, the paper gain per lot reached 556,600 yuan, setting a new record for first-day paper profits since the full implementation of the registration system on the A-share market.
Gree Technical School to Launch First Enrollment Soon, Dong Mingzhu as Principal
According to Gree Culture on August 18, the Zhuhai Gree Technical School, founded by Gree Electric and approved by the Zhuhai Municipal Bureau of Human Resources and Social Security, has recently obtained enrollment qualifications with the admission code 9800242. The school will officially commence its first enrollment drive in the near future. Gree Electric’s Chairman, Dong Mingzhu, will personally serve as the school’s principal.
Baidu Q2 Revenue Hits 31.3 Billion Yuan, AI Business Share Exceeds Half for Two Consecutive Quarters
On August 18, Baidu released its Q2 2026 financial results, reporting total revenue of 31.3 billion yuan and core business revenue of 25.2 billion yuan. AI business revenue accounted for 50% of the total, marking the second consecutive quarter where this share exceeded half. Baidu founder Robin Li remarked that the sustained growth of the AI business further validates Baidu’s transformation from an internet-centric company to an AI-first one, and reinforces confidence in the company’s long-term growth potential.
According to the earnings report, Baidu’s AI cloud infrastructure revenue reached 7.3 billion yuan in Q2, up 50% year-on-year, with GPU cloud surging 283% and posting triple-digit growth for four straight quarters. AI application revenue hit 2.5 billion yuan, up 3% year-on-year, while AI-native marketing services generated 2.6 billion yuan in revenue.
Pony.ai Q2: Robotaxi Contributes One-Third of Total Revenue
On August 18, Pony.ai released its Q2 2026 earnings, posting total revenue of 246 million yuan, a 68.8% increase year-on-year. Robotaxi business revenue reached 81.92 million yuan, surging 691.2% year-on-year and growing 40.9% quarter-on-quarter, contributing one-third of total revenue and emerging as a key growth driver. Notably, passenger fare revenue skyrocketed 849.3% year-on-year, marking the highest single-quarter growth rate ever recorded.
As of June 30, the Robotaxi fleet had expanded to 1,975 vehicles, steadily advancing toward the target of over 3,500 vehicles by the end of 2026. Currently, the seventh-generation Robotaxi models built on BAIC, GAC, and Toyota platforms are all in daily operation. The company is accelerating its overseas expansion through a co-built fleet model, with plans to deploy over 4,000 Robotaxis abroad, including more than 2,000 across five European cities in partnership with Uber.
Hesai: Q2 Net Profit Up 60% Year-on-Year
Hesai announced on August 18 via a Hong Kong Stock Exchange filing that its Q2 2026 net revenue reached RMB 860.8 million, up 21.9% year-on-year. Product revenue for the quarter totaled RMB 859.7 million, an increase of 22.9% year-on-year, driven primarily by strong demand in both Chinese and global markets boosting deliveries of ADAS and robotics LiDAR products, partially offset by lower average selling prices. Service revenue for Q2 was RMB 1.1 million, down 84.3% year-on-year, mainly due to reduced non-recurring engineering service income. Net profit attributable to ordinary shareholders stood at RMB 70.6 million for the quarter, up 60.0% year-on-year.
China Unicom H1 Net Profit of 9.5 Billion Yuan, Down 34.6% Year-on-Year
On August 18, China Unicom reported in a Hong Kong Stock Exchange filing that its H1 2026 operating revenue reached RMB 201.4 billion, up 0.6% year-on-year, while service revenue came in at RMB 178 billion, down 0.2% year-on-year. Profitability faced short-term pressure due to changes in VAT and labor cost investment timing, though the annual decline is expected to narrow significantly. H1 net profit was RMB 9.5 billion, down 34.6% year-on-year. Computing power revenue grew to RMB 41.9 billion, up 13% year-on-year, with intelligent computing center revenue rising 11% and intelligent computing services revenue up 9%.
