宇树科技上市首日暴涨400%，百度财报后大跌12%
Unitree Surges, Baidu Plummets, Xiaomi Rises | Stock Movers
宇树科技IPO首日暴涨和百度财报大跌是当日亚洲市场重要个股事件，涉及人形机器人赛道估值锚定和互联网巨头业绩分化，值得关注后续走势。
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The Stock Movers Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg data.
《股票动向报告》，为您汇总股市中活跃的公司，利用彭博数据的力量。
Well, let's take a look at some stocks on the move today [music] in Asia. I'm Stephen Carroll, and I'm joined by our equities reporter, Winnie Sue, for more. Winnie, good morning. Let's start with a big IPO from the humanoid robot maker, Unitree. How is their first day in the markets going?
好的，让我们看看今天亚洲市场上的一些股票动态[音乐]。我是斯蒂芬·卡罗尔，今天有我们的股票记者温妮·苏一起参与。温妮，早上好。让我们从人形机器人制造商宇树科技的大型首次公开募股开始。他们在市场的第一天表现如何？
Yeah, I would say it's a very successful first day at school. Now, I don't know if our audience knows much about Unitree Robotics, but they might have seen these viral videos earlier this year around the Chinese New Year, where these robots were just dancing and performing martial arts in very precise motion. So, that is the maker of this these robots. Now, this company actually was shares were up as much as 630% at the open, pairing a little bit, now up some 400% or so, after the company have raised about 904 million US dollars in its IPO in Shanghai.
是的，我会说这是非常成功的第一天。现在，我不确定我们的观众是否了解宇树科技，但他们可能今年早些时候在春节期间看到过这些病毒式传播的视频，这些机器人以非常精准的动作跳舞和表演武术。所以，那就是这些机器人的制造商。现在，这家公司的股票在开盘时一度上涨了630%，略有回落，现在上涨了大约400%，此前该公司在上海的首次公开募股中筹集了约9.04亿美元。
Now, there is a lot of excitement when it comes to the retail space, because we actually saw the company the portion was subscribed by over 5,500 times earlier in the month, and the excitement really shows up, because it plays such a strategic role in this AI race between the US and China. And in fact, with this IPO, the company, Unitree Robotics, is now the very first publicly traded humanoid robot maker in mainland China.
现在，零售领域有很多兴奋情绪，因为我们实际上看到该公司的股票在本月早些时候被超额认购超过5500倍，这种兴奋情绪确实显现出来，因为它在美中之间的人工智能竞赛中扮演着如此战略性的角色。事实上，通过这次首次公开募股，宇树科技现在是中国大陆第一家公开上市的人形机器人制造商。
And perhaps, in fact, the very first pure play humanoid robot stocks that we see on any public market, because most of them are actually private values. So, another key point of this IPO is that it sets potentially the global valuation anchor of the whole humanoid space. So, we really want to see how it goes to play out further. Obviously, fundamentals are quite strong. You have Deep Seek as the strategic sponsor, plus you are seeing the industry really growing pretty fast with JP Morgan expecting the Chinese market to take up about 50% of this whole new humanoid robotics space by 2030.
而且，也许事实上，这是我们在任何公开市场上看到的第一个纯人形机器人股票，因为大多数实际上都是私人估值。所以，这次首次公开募股的另一个关键点是，它可能为整个人形机器人领域设定全球估值锚点。因此，我们真的很想看看它如何进一步发展。显然，基本面相当强劲。你有深度求索作为战略赞助商，加上你看到这个行业真的在快速增长，摩根大通预计到2030年中国市场将占据整个人形机器人领域约50%的份额。
So, with that we really want to see going forward how this dancing robot is actually going to become more uh commercially viable.
所以，我们真的很想看看未来这个跳舞的机器人如何变得更加商业化可行。
Yeah, but a really interesting gauge, as you say, of investor appetite in that space, Winnie. Let's go next to the internet giant Baidu. Shares plummeting after their latest earnings.
是的，但正如你所说，这是衡量投资者对该领域兴趣的一个非常有趣的指标，温妮。接下来让我们看看互联网巨头百度。在最新财报发布后，其股价暴跌。
Yeah, exactly. Not too much appetite in that space, though. Um when it comes to earnings, a pretty disappointing revenue falling for a fifth quarter. Now, um the disappointment comes in different folds. Obviously, its core business in the advertisement business, which is usually quite harm- high margin, continues to struggle because of the rivals from social media, but also these AI chatbots. But then, outside of the core ads, you're still looking at the AI space, which is also showing a slowdown in growth.
是的，没错。不过，这个领域的兴趣并不大。嗯，说到财报，令人失望的是营收连续第五个季度下滑。现在，失望之处体现在多个方面。显然，其核心业务——广告业务，通常利润率较高，但由于社交媒体以及AI聊天机器人的竞争，继续面临困境。然而，在核心广告业务之外，你还会看到AI领域，其增长也在放缓。
Its model actually is not as good as the other open weight um rivals, the likes of Moonshot AI, for example. So, that part is also struggling. Then, you combine that with the lack of visibility in its spin-off of its chip unit, Kunlun Xin, which was not really meant uh mentioned in the management call. So, these are all showing up in the stock price with shares plummeting about 12% at this point. And it is the latest example of how weaknesses is really showing up in these Chinese internet names with disappointing earnings earlier from Tencent and jd.com as well and we have Alibaba to see tomorrow.
它的模型实际上并不如其他开放权重竞争对手，比如月之暗面。所以，这部分也在挣扎。再加上其芯片部门昆仑芯的分拆缺乏透明度，管理层电话会议中并未真正提及。因此，这些都反映在股价上，目前股价暴跌约12%。这也是中国互联网公司表现疲软的最新例证，此前腾讯和京东的财报也令人失望，明天我们还将关注阿里巴巴。
And just very briefly when you are on Xiaomi, we've got shares up in the company today.
简短提一下小米，今天该公司股价上涨。
Yeah, so that's an interesting one because in fact we did see the third quarter of profit decline especially some weakness in the EV unit but what investors really liked is how the smartphone business was also was able to perform better than expected. Revenue was slightly better than the estimated thanks to its price hikes and a better product mix and one important thing is that this is coming as we're seeing the stabilization when it comes to the rise in memory in memory chips and that perhaps means that there's going to be less pressure [music] on these names going forward.
是的，这很有趣，因为实际上我们确实看到了第三季度利润下滑，尤其是电动汽车部门表现疲软，但投资者真正喜欢的是智能手机业务的表现好于预期。得益于提价和更好的产品组合，营收略高于预期，一个重要因素是，随着内存芯片价格上涨的稳定，这可能意味着这些公司未来面临的压力会减小。
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