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Unitree’s Shanghai IPO sends shares up more than 600% on debut
The Hangzhou robotics firm raised 6.1 billion yuan, and its STAR Market listing was oversubscribed more than 8,000 times, a record for the exchange.
Unitree, a Hangzhou-based robotics company, made its stock market debut on Shanghai’s STAR Market on August 19, with shares jumping more than 600% in the first day of trading, according to Yahoo Finance.
The IPO raised 6.1 billion yuan, about $905 million, and was oversubscribed more than 8,000 times, described as a record for Shanghai’s STAR Market, which is modeled on Nasdaq.
Founded in 2016, Unitree is backed by Meituan, Alibaba, Tencent and AI startup DeepSeek. From 2023 to 2025, its revenue grew more than tenfold to nearly 1.7 billion yuan, and it posted net income of 278 million yuan in 2025.
The company delivered more than 5,500 humanoid robots worldwide last year and said robot dogs accounted for about 42% of revenue. Yahoo Finance also noted Unitree is the first humanoid robot maker listed on mainland China’s exchanges.
Unitree, which offers both humanoid and quadruped robots, has positioned its viral social media presence as part of its reach beyond robotics, while its profit track record and scale of deliveries helped underpin investor interest in the listing.
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