Unitree Robotics opens up 629% in Star Market debut

Unitree Robotics experienced a stunning 629% increase in its stock price during its Shanghai share debut on Wednesday, opening at 1,100 yuan. This marked a significant rise from its initial public offering price of 150.80 yuan. The company, known for its humanoid robots, saw its market capitalization reach approximately 445 billion yuan (US$66 billion) following the opening surge.

The IPO, conducted on the tech-focused Star Market, raised about 6.1 billion yuan by selling 40.45 million shares, representing 10% of Unitree's enlarged share capital.

Unitree, based in Hangzhou, attracted intense investor interest as it was the first humanoid robot maker to list on a mainland Chinese exchange. Nearly 9.8 million retail investment accounts vied for just 9.7 million shares, resulting in a final allocation rate of 0.018%. Strategic investors included DeepSeek, Tencent Holdings, and several state-backed entities like China National Petroleum and China Southern Power Grid.

The IPO is expected to serve as a benchmark for China's rapidly growing embodied-AI sector, where private investors have valued several leading startups over 20 billion yuan. Robotics has become a national priority for China as it intensifies its technology competition with the United States. In 2025, Unitree generated 1.7 billion yuan in revenue, marking a fourfold increase from the previous year. The company's revenue grew by 68.5% year-on-year to 423 million yuan in the first quarter of 2026.

Unitree's revenue was split between humanoid robots (868 million yuan) and quadruped robots (698 million yuan). The company sold 5,215 humanoids and 23,037 quadrupeds during 2025. Over 40% of its revenue came from overseas markets. As of July, Unitree had produced about 18,000 bipedal humanoids across multiple models. The company recently unveiled its latest model, "Superman," capable of jumping 2 meters and reaching a top speed of 12.66 meters per second.