一 | (ECNS) -- Unitree Robotics has priced its Shanghai initial public offering at 150.80 yuan (about $22.34), the company said on Thursday, with online and offline subscription kicking off next Monday. In a filing to the Shanghai Stock Exchange, the Chinese robotics firm said it was seeking to raise 6.099 billion yuan in gross proceeds, with net proceeds of about 5.917 billion yuan after deducting issuance expenses. The funds will mainly go toward robot R&D, production capacity expansion and embodied intelligence algorithm development. The IPO proposal has secured approval and registration clearance. Unitree plans to float 40.4464 million shares, accounting for 10% of its enlarged total share capital. The offering includes strategic placement, offline book-building allotment and online fixed-price subscription. Unitree estimates its operating revenue for the first half of 2026 will stand between 1.052 billion yuan and 1.128 billion yuan, with net profit attributable to parent company ranging from 258 million yuan to 306 million yuan. Unitree applied under the second set of STAR Market listing criteria which requires an estimated market value of no less than100 billion yuan. Its post-IPO market value will hit approximately 60.993 billion yuan. (By Intern Xu Wenda, Zhang Dongfang) 
。 本篇评级为★★★，主要围绕以下内容展开：
1、增量资金继续入场，惯性向上概率大；
2、通胀数据、特朗普访华，预期偏暖；
3、什么资金在买入？为何没有高低切？
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二 | 1、增量资金继续入场，惯性向上概率大 今天国内市场依然亢奋，且程度再上一个台阶。沪深两市成交量突破3.5万亿，创下近三个月新高，说明增量资金正大举入场。代表是谁？包括杠杆资金和各路游资。 这两日入场速度极快。典型如杠杆资金中的融资融券，每日净买入量达200亿左右，已持续近一周。各路游资在龙虎榜上也争先恐后追加仓位。
三 | 因此，整体市场继续惯性向上。 这种向上趋势何时会被打断？可能要等到市场出现重大负面消息。我们花点时间梳理一下，近两日消息面上几个大逻辑线是否已出现“天边的阴云”，或酝酿出较大压力。我们逐一梳理。 本文为妙投付费内容，上述仅为摘要，购买本专栏即可解锁完整内容。新用户可免费领本专栏7天阅读体验机会，在妙投APP-我的-权益兑换 输入“妙投888”即可领取。
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