Unitree Robotics Surges 629% in Shanghai Stock Debut, Valued at US$66 Billion
SCMP · 2 SOURCESabout 2 hours ago2 MIN
Summary
Unitree Robotics, the world's largest humanoid robot maker, made a blockbuster debut on Shanghai's Star Market on Wednesday, with shares surging 629 percent above the IPO price of 150.80 yuan to open at 1,100 yuan, valuing the Hangzhou-based company at approximately 445 billion yuan (US$66 billion). The offering drew overwhelming retail interest, with nearly 9.8 million accounts competing for just 9.7 million shares, while strategic investors including Tencent, DeepSeek, and state-backed funds placed bids. Founded in 2016, Unitree has emerged as a fierce rival to US developers, selling a wide range of robots from sensors and automated arms to four-legged and humanoid machines.
Key Points
- Unitree's shares opened at 1,100 yuan, significantly above the IPO price of 150.80 yuan, giving the company a market cap of about 445 billion yuan
- The company raised approximately 6.1 billion yuan by selling 40.45 million shares, representing 10 percent of its enlarged share capital
- Nearly 9.8 million retail accounts competed for just 9.7 million shares in the online tranche, resulting in an allocation rate of only 0.018 percent
- Strategic placement investors include Tencent Holdings, AI start-up DeepSeek, and state-backed funds such as China National Petroleum, China Southern Power Grid, China Telecom, Citic Securities, and the National Council for Social Security Fund
- Unitree generated 1.7 billion yuan in revenue in 2025, more than four times the previous year
- The debut coincides with the opening of the World Robot Conference in Beijing, running from Wednesday to Sunday
Why It Matters
The IPO sets a valuation benchmark for China's booming embodied-AI sector, where private investors have already pushed several leading start-ups beyond 20 billion yuan in valuation . Robotics has become a national priority as Beijing steps up its technology competition with the US, with robots also seen as a potential solution to challenges posed by China's ageing population .
The IPO sets a valuation benchmark for China's booming embodied-AI sector, where private investors have already pushed several leading start-ups beyond 20 billion yuan in valuation . Robotics has become a national priority as Beijing steps up its technology competition with the US, with robots also seen as a potential solution to challenges posed by China's ageing population .