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活力中国调研行｜炉火正旺，好戏连台，淄博烧烤进化到4.0形态了_我的网站

一 |           　　走进淄博八大局便民市场，穿过熙熙攘攘的主街，拐入主街旁边的书画苑，眼前的一幕让人恍惚：一张张餐桌上摆着淄博烧烤的烤串、薄饼、小葱“标配三件套”，食客们熟练地撸串、蘸酱、卷饼，而几步之外，竟是一座灯光闪烁的舞台。    

    Unitree Robotics' humanoid robot is displayed at the 14th China Information Technology Expo in Shenzhen, South China's Guangdong Province, on April 10, 2026. Photo: VCG
With just one day to go before Chinese humanoid robotics pioneer Unitree Robotics opens subscriptions for its initial public offering (IPO) on Shanghai's STAR Market, investor attention has extended far beyond the company itself, highlighting a broader capital-market rush into embodied intelligence as the sector moves from technological breakthroughs toward commercialization.
As of press time, discussions surrounding the IPO have pushed the topic to the top of trending lists across multiple stock trading platforms. The debate has focused on Unitree Robotics' disclosed short-term financial performance, as well as the potential opportunities for investors from China's policy push to include embodied intelligence and humanoid robots among key areas of medium- and long-term technology and industrial development.
Experts said the wave of IPOs among robotics companies, including Unitree Robotics, represents a shift that allows robot makers to engage more directly with public markets and investors. It also brings companies at different stages of development and pursuing different technological paths into a common valuation framework, promoting market comparisons and competition.
At the same time, the capital-market boom is likely to accelerate a shakeout, separating companies capable of building sustainable business models from those that struggle to turn technological advances into commercial returns.
On Thursday, Unitree Robotics released its announcement on the IPO of shares and listing on the STAR Market. According to the announcement, the offering price was set at 150.80 yuan per share, valuing the company at approximately 61 billion yuan ($9.04 billion) upon listing. 
Secondary-market professionals told the Global Times that demand for Unitree Robotics' IPO subscription could be extremely high, meaning the chances of individual investors securing shares are likely to be very limited.
Robotics is currently one of the few categories that can translate AI capabilities into tangible assets with relatively comparable valuation metrics, creating a unique advantage in valuation narratives. This scarcity is one of the key factors drawing the attention of both large and small investors, Tian Feng, former dean of SenseTime's Intelligence Industry Research Institute, told the Global Times on Sunday.
Unlike large language model companies, whose capabilities are often assessed through benchmarks and demonstrations that are difficult for ordinary secondary-market investors to directly evaluate, robots offer visible and verifiable evidence through tasks such as grasping, walking and dexterous manipulation, Tian said. This tangible demonstration of "embodied" intelligence naturally creates a valuation premium in market narratives, he added. 
Tian cautioned that extreme subscription figures, such as RobotHoenix's 14,855-fold oversubscription on its listing and LDRobot's 127.62 percent first-day share price surge, were driven by a combination of institutional advantages and sector scarcity rather than serving as evidence of the commercial validation of robotics products. He noted that there is no direct correlation between oversubscription multiples and the certainty of product deliveries or commercialization prospects. 
Beyond Unitree Robotics, a broader financing boom in China's robotics industry has also gained significant momentum, with the Hong Kong Stock Exchange emerging as the main battleground for this latest IPO wave.
Citing industry data provider Wind, the China STAR Market reported that five robotics-related companies have gone public in Hong Kong so far in 2026. Meanwhile, 51 companies with businesses spanning industrial robots, service robots and embodied intelligence solutions are currently in the IPO pipeline in Hong Kong, accounting for 12.7 percent of all companies awaiting listing.
According to data from IT industry research platform ITjuzi.com, financing in China's embodied intelligence sector totaled 93.5 billion yuan in the first half of 2026, surpassing 90 billion yuan and marking a fivefold increase from the same period in 2025. The number of financing deals reached 322, up 137 percent year-on-year. 
Tian said that while policy support and clearer commercialization pathways are boosting confidence in the sector, the latest IPO wave should also be viewed through a more cautious lens. The surge comes partly as the primary market's ability to continue funding embodied intelligence companies faces limits, prompting firms to seek new liquidity channels through public markets, rather than solely reflecting a dramatic leap in industrial maturity.
As emerging technology sectors increasingly become the focus of public attention, more objective and professional analysis is also needed to help investors assess companies' technological capabilities, commercialization prospects and long-term value, rather than simply following market enthusiasm, Chinese experts noted.
。     　　舞台上鼓点铿锵，演员们水袖翻飞，正演绎着“姜子牙封齐”的故事。灯光闪烁间，让人以为走进了剧场。其实，这是一家烧烤店，在这里，边吃烧烤边看演出不是噱头，而是日常。      　　这家店最多可同时容纳600人就餐，即便体量如此，晚上营业高峰时仍常常一座难求，店门口排起等位的长队。有游客笑言：“烧烤管饱，演出管够，情绪价值直接拉满。”      　　淄博烧烤的“进化”，是有迹可循的。当地从业者给记者梳理了一条清晰的升级路线：1.0版本是露天支桌、马扎围坐的简易就餐;2.0版本搬进室内、装上空调;3.0版本增加了驻唱表演;到了4.0版本，则全面融入齐文化等在地文化演艺。

二 |      　　这个新形态的诞生，源于淄博烧烤爆火之后的一场“腾笼换鸟”。彼时，流量骤至，当地顺势盘活存量空间：市场内一座市公交公司的闲置院落被改造升级为演艺式烧烤场所，老旧场地“摇身一变”，成了年轻人追捧的打卡地。阿淄烧烤正是这一时期招商引入的项目，占地1200平方米，以沉浸式剧场串联起姜子牙封齐、聊斋秘境、周村大染坊等文化故事，让游客在烟火气里触摸三千年的齐韵。     　　2025年8月，八大局阿淄烧烤店开始引入常态化演艺，所有演出对游客免费开放。“我们在运营中发现，游客来到八大局后，单纯的美食打卡很快就结束了。为了让大家不仅吃得好，还能真正了解淄博、记住淄博，我们在八大局市场内打造了阿淄烧烤、淄博宴、聊斋茶馆三个文旅餐饮项目。”阿淄烧烤、淄博宴、聊斋茶馆负责人郑峰告诉记者。

三 |      　　效果立竿见影。“目前这种新模式的效果特别好，很多游客都是边吃美食边看演出，剧场接待量持续走高，很多游客由此对齐国的历史有了更加直观的了解。”郑峰说。

四 |      　　新业态长得快，老市场的管理也跟得上。八大局市场管理办公室负责人郑昊林介绍，市场坚持“始于烟火，兴于诚信”，每季度开展诚信商户评定，实行一店一码，消费纠纷可快速处理，市场内还设置了公平秤，用实实在在的办法擦亮“人好物美心齐”的淄博招牌。     　　如今的八大局便民市场，430余家商户集聚百余种业态，年均接待游客约1800万人次，带动就业2000余人次，被网友称为“全国最牛的5A级菜市场”。每天下午5点半，主街准时上演巡游;每逢周末，古风NPC快闪互动穿插其间。游客在这里不再是简单地逛吃买东西，而是沉浸式地游玩体验。

五 |      　　2023年，淄博烧烤凭“小饼卷一切”火遍全网;三年过去，当不少“网红”城市的热度归于平淡，淄博却把流量酿成了“留量”。     　　烧烤还是那口烧烤，但淄博人给它加了一出戏、一段历史、一份文化。郑峰表示，下一步还将挖掘淄博五区三县更多的在地文化，融入烧烤店的演出之中。

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Published on:22:29:21