August 18, 2026 (InvestinChina.asia) – Unitree Robotics, the world’s leading humanoid robot maker by shipment volume, will debut on the Shanghai Stock Exchange’s STAR Market on Wednesday, August 19, under ticker 688836, the company said in its initial public offering listing prospectus released late Sunday.
The offering was priced at 150.80 yuan per share, implying a post-listing market capitalization of approximately 60.99 billion yuan, meeting the listing standard the company had explicitly selected in its prospectus.
A Robotics Champion Comes to Market
Unitree is a frontrunner in the general-purpose robotics industry with a dominant position in the global quadruped robot market. In the humanoid segment, the company shipped more than 5,500 units in 2025—pure humanoids excluding wheeled dual-arm robots—ranking first worldwide by volume.
Financially, Unitree has posted explosive growth. The company recorded revenue of 1.699 billion yuan and net profit of 59 million yuan after deducting non-recurring items in 2025. For the first half of 2026, it expects revenue between 1.052 billion and 1.128 billion yuan, with net profit attributable to shareholders ranging from 258 million to 306 million yuan.
Unprecedented Subscription Frenzy
The IPO drew extraordinary investor interest. Driven by surging online subscription demand, the number of valid online subscriber accounts reached approximately 9.7846 million, setting a new record for any STAR Market new share offering. The final online winning rate came in at a mere 0.01809759%, the lowest in STAR Market history, making Unitree the hardest new stock to win in the board’s existence.
In the final allocation, investors participating in strategic placement collectively received 8,089,286 shares. Online investors subscribed to 9,698,266 shares upon payment, while offline institutional investors took up 22,650,148 shares. The combined 8,734 unsubscribed shares from online and offline channels were entirely underwritten by the sponsor and lead underwriter.
Proceeds to Fuel Robotics R&D and Manufacturing
Unitree said its planned fundraising projects are built around its competitive advantages and strategic development needs, comprising:
- An intelligent robot model research and development project;
- A robot body research and development project;
- A new-type intelligent robot product development project; and
- An intelligent robot manufacturing base construction project.
All initiatives center on the company’s core business and target the technology innovation sphere, bolstering capital strength, intensifying R&D investment, and enhancing industrialization capacity to sustain long-term growth.
Volatility Warning as Price Limits Lifted
Under STAR Market trading rules, while a 20% price fluctuation limit applies to ongoing trading, newly listed stocks are exempt from price limits during their first five sessions of trading, exposing them to potentially sharp price swings. Unitree cautioned that investors should fully understand equity market risks and the risk factors disclosed by the company, avoid blindly chasing “new share speculation” in the early listing phase, and make prudent, rational investment decisions.
The listing marks a milestone not only for Unitree but for China’s embodied intelligence sector, as the country’s robotics champion steps onto the public capital markets stage at a valuation that reflects both its global leadership and the high expectations riding on the humanoid robotics race.
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