Unitree IPO Priced at 61B Yuan on STAR

Unitree Robotics (Yushu Technology) priced its Shanghai STAR Market IPO at 150.8 yuan per share, valuing the company at about 61 billion yuan (~$9 billion) and aiming to raise 6.1 billion yuan by issuing 40.45 million new shares, making it the first mainland-listed pure-play humanoid robot maker. Demand was exceptionally strong, with the retail portion oversubscribed by about 5,526 to 9,707 times and online demand surging to as high as 8,288.82 times, triggering a clawback and resulting in a final online allocation of roughly 0.018% of post-placement shares. The IPO underscores rapid growth in China’s humanoid robotics sector, with Unitree reporting 2025 revenue around 1.7 billion yuan and shipments of about 5,500 units, while Chinese manufacturers collectively accounted for the vast majority of global shipments in early 2026. The listing follows a broader government push to support robotics and AI as strategic industries and reflects a wave of mainland listings in the sector amid intensifying competition with U.S. firms.