Unitree Debuts on Shanghai Stock Market After Record IPO Demand

Unitree, a Chinese humanoid robot manufacturer, is set to make its stock market debut on Wednesday, August 19, becoming the first company of its kind to list on mainland China's stock market. The Hangzhou-based firm raised 6.1 billion yuan, approximately $905 million, in an initial public offering that was oversubscribed by more than 8,000 times, setting a record for Shanghai's technology-focused STAR Market. The listing marks a significant milestone for China's burgeoning humanoid robotics sector, which the government has strategically prioritized.

The IPO values Unitree at nearly 61 billion yuan, about $9 billion. Revenue for the company surged tenfold over two years to 1.7 billion yuan, or $252 million, in 2025, with a net profit of 278 million yuan. The firm sold more than 5,500 humanoid robots worldwide last year, making it the global leader by unit sales. However, its financial growth faces pressure; first-quarter net profit reportedly fell sharply as spending on research and marketing increased. Despite this, the IPO was met with extraordinary demand, with retail investor subscriptions exceeding available shares by over 8,000 times.

Unitree, founded in 2016 by Wang...