Unitree Robotics completed its initial public offering on the Shanghai STAR Market on August 19, 2026, raising about 6.1 billion yuan ($904-905 million) [1, 2, 3, 4]. Its shares surged between 542% and 629% on the first day of trading, peaking at 1,100 yuan per share from an IPO price of 150.8 yuan [1, 2, 3, 5, 6]. This vaulted Unitree's market valuation initially to roughly 61 billion yuan ($9 billion), with a peak capitalization reaching as high as 445 billion yuan ($66 billion) at the peak share price [2, 5, 7, 8].
Unitree is the first humanoid robot maker to list publicly on a mainland Chinese exchange. The Hangzhou-based company, officially registered as Yushu Technology Co., has built a global lead sending over 5,500 humanoid robots worldwide in 2025, making it the top shipper in this sector [2, 5, 9, 8]. Its products are known for athletic capabilities such as backflips, dancing, and martial arts, with a recently unveiled model called “Superman” able to jump two meters and run at speeds up to 12.66 meters per second [1, 6, 8].
The company's 2025 financials showed revenue at 1.7 billion yuan, a 300% year-on-year increase, and net profit of 278.2 million yuan, nearly doubling from the prior year [10]. Average selling prices for its humanoid robots are about 166,400 yuan each, signaling strong demand [10]. Despite most units being used for research, education, and performing arts rather than commercial deployment, Unitree has remained profitable [11, 10].
The IPO attracted intense retail investor interest, with the retail tranche oversubscribed by thousands of times—Bloomberg reported a 5,526-fold oversubscription and nearly 9.8 million retail accounts competing for 9.7 million shares [7, 4, 9, 10]. Analysts see this as a sign of strong appetite for China's embodied AI sector; Ian Ma from Bloomberg Intelligence noted the IPO proceeds should accelerate AI development and commercialization [2].
JPMorgan forecasts global humanoid robot shipments to rise from about 18,000 units in 2025 to 1.75 million by 2030, with China expected to account for more than half of demand [4, 9, 12]. Founder Wang Xingxing, who owns about 20% of Unitree and became a billionaire from the IPO, said the market will take off within 2 to 10 years once robots can handle 80% of voice-command tasks in new environments [12].
Unitree is backed by Chinese tech giants including Tencent and Alibaba [5, 6]. However, its growth faces headwinds from U.S. restrictions; the U.S. government banned imports of Chinese humanoid robots citing national security and labeled Unitree linked to China’s defense industrial base [5, 8, 10].
Unitree’s IPO coincided with the opening of the World Robot Conference in Beijing on August 19, 2026, marking a milestone event for the company and the robotics sector in China [5, 7, 11]. Founder Wang Xingxing gave a speech on August 20 emphasizing the path to mass-market humanoid robots within a decade [12].
