Unitree shares close 460% above IPO price on Shanghai STAR Market debut after raising 6.1B yuan

Unitree Robotics

Unitree, the Hangzhou maker of humanoid and four-legged robots, debuted on Shanghai's STAR Market and closed its first day at 845 yuan, more than 460% above its 150.80-yuan offer price. The IPO raised about 6.1 billion yuan (around $900 million) for roughly 10% of the company. Unitree is one of the few humanoid makers that turns a profit, which helps explain the demand.

• Shares peaked about 600% above the offer price during the day before settling.
• Retail demand oversubscribed the offering more than 8,200 times.
• 2025: revenue 1.699 billion yuan (about $250 million), net profit 278 million yuan, over 5,500 humanoids shipped.
• Founded in 2016; the listing cleared regulators in 73 days from application, a STAR Market record.