Unitree Robotics’ Historic $904M IPO on Shanghai’s STAR Market

China’s Unitree Robotics, officially registered as Yushu Technology, has made history with its initial public offering on Shanghai’s technology-focused STAR Market. The company priced its shares at 150.80 yuan each, aiming to raise approximately 6.1 billion yuan (around $904 million). This pricing, set on August 6, 2026, marks Unitree as the first humanoid robot manufacturer to go public on mainland China’s exchanges. The move catapults its valuation to an impressive $9 billion, significantly surpassing its original $610 million fundraising target.

The Hangzhou-based company is set to sell approximately 40.44 million shares, which represents 10% of its enlarged share capital. Unitree’s 2025 financials were noteworthy, with revenue of approximately $250 million and a gross profit margin of over 60%. This rare combination of growth and profitability in the robotics sector led to a final offer price that was 45% higher than earlier market consensus estimates, indicating a growing investor interest in humanoid robotics.

Unitree’s public debut comes at a time of escalating US-China rivalry in the fields of robotics and AI-powered hardware. This listing is poised to establish the first transparent, daily-priced valuation benchmark for mainland humanoid robotics. This is a stark contrast to US competitors like Figure, which raised over $1 billion at a $39 billion private valuation. Subscriptions for Unitree’s IPO are set to open on August 10, 2026.

Source: Bloomberg – Unitree Robotics Plans $904 Million IPO as China’s First Humanoid Robot Maker