Covering IPOs, Healthcare and Technology Stocks

Andrei Zakharov

Equity research and capital markets professional with over a decade of international experience across investment analysis, trading, and private wealth management. My career spans global financial institutions including Morgan Stanley and Citibank, as well as an UHNWI-backed family office in Switzerland and an independent European equity research firm.

At Morgan Stanley, I supported institutional equity and fixed income trading desks, gaining first-hand insight into market structure, liquidity, flows, and execution dynamics. After Citibank, Morgan Stanley and Phoenix Capital, I worked at an UNHWI-backed family office as Senior Equity Analyst focused on international and EM equities. Within two years, I was promoted to Senior Portfolio Manager, managing a long/short concentrated equity portfolio with a proven track record of steady performance and limited downside risk.

Subsequently, I co-founded an independent European equity research firm specializing in cleantech, pre-IPO private unicorns and tech IPO listings. In parallel, I joined Smartkarma, a fast-growing AI-augmented investment intelligence platform in Asia, where I'm covering IPOs, healthcare, and technology stocks for private and institutional investors.

Unitree Robotics Valuation Update: Bull-Case DCF Frames IPO Upside As Onshore Listing Nears

Unitree Robotics IPO Preview: Path To Market Leadership and The Next Wave of Robotics

Equity Capital Markets

Unitree Robotics / Equity Capital Markets

<ul>
<li>Unitree Robotics, a top producer of quadruped and humanoid robots, aims to raise ~$610M or ~RMB4.2B in the initial public offering in Shanghai.</li>
<li>The IPO valuation is expected to be between RMB40B and RMB50B, assuming a modest premium relative to Shenzhen Dobot and UBTech Robotics on my 2025 revenue estimates.</li>
<li>Unitree Robotics enjoys a higher relative growth profile and industry-leading gross margins. The company looks strongest today on affordability, shipment volume and hardware accessibility.</li>
</ul>


Unitree Robotics, a top producer of quadruped and humanoid robots, aims to raise ~$610M or ~RMB4.2B in the initial public offering in Shanghai.
The IPO valuation is expected to be between RMB40B and RMB50B, assuming a modest premium relative to Shenzhen Dobot and UBTech Robotics on my 2025 revenue estimates.
Unitree Robotics enjoys a higher relative growth profile and industry-leading gross margins. The company looks strongest today on affordability, shipment volume and hardware accessibility.


유니트리 로보틱스 IPO 기업 가치 분석: IPO는 정점이 아닌 시작일 뿐, 여전히 상승 여력이 있다