A simple question: Are people on Twitter really bullish on Unitree?

At today’s opening, its market capitalization was RMB 444.9 billion. Full-year revenue last year was RMB 1.7 billion. Divide one by the other: 262 times.

The average P/E ratio for the STAR Market industry is 38 times, while Unitree’s IPO price implied a P/E ratio of 219 times. Based on today’s opening price, it would have to rise several more times.

In the last funding round in June of last year, its post-money valuation was RMB 12.7 billion. Today’s opening valuation was RMB 444.9 billion. In one year, that’s a 35-fold increase. A successful allotment of one lot would earn RMB 470,000.