Unitree Soars 460% in Shanghai Debut, Hits $53B Valuation on $904M IPO

Unitree Robotics surged more than 460% in its Shanghai debut, closing at 845 yuan per share after raising 6.1 billion yuan ($904 million) in an initial public offering. The Hangzhou-based company became the first publicly traded humanoid robot maker in mainland China, with shares jumping as much as 629% from the IPO price of 150.8 yuan before paring gains.

The offering valued Unitree at roughly 358 billion yuan ($53 billion), with 40.45 million shares—approximately 10% of the company—sold. The retail tranche was oversubscribed more than 5,500 times, reflecting intense investor demand for China's embodied AI sector.

Unitree manufactures bipedal humanoids capable of walking and manipulating objects with dexterous hands, alongside four-legged robots for applications such as hazard detection. The company's backflipping and dancing machines have drawn global attention, appearing at China's Spring Festival Gala.

Revenue surged to 1.7 billion yuan in 2025 from 393 million yuan a year earlier, with net profit of 278 million yuan and gross margin above 60%. The company shipped more than 5,500 humanoids last year—ranking first globally—and approximately 18,000 units across its full range by July 2026, making it a rare profitable player in the sector.

Strategic placements in the offering included AI firm DeepSeek, which invested about 140.8 million yuan, alongside Tencent, PetroChina, and China Telecom. Founder Wang Xingxing holds roughly 30% of the company, a stake now valued at over 100 billion yuan.

Ahead of the listing, Unitree unveiled a new humanoid called "Superman," which the company claims can jump two meters from a standing position and run at speeds up to 12.66 meters per second.

The company's $53 billion valuation dwarfs U.S. rival Agility Robotics, which announced in June a SPAC merger with Churchill Capital Corp XI at a $2.5 billion pre-money valuation. Recent SPAC trading implies a value near $4 billion—a fraction of Unitree's market capitalization.

Ian Ma, Bloomberg Intelligence Analyst, stated:

"Unitree's debut surge signals strong appetite for China's embodied AI sector. It may set a favourable valuation read for upcoming Chinese robotics IPOs."

JPMorgan forecasts global humanoid shipments will rise from 18,000 units in 2025 to 1.75 million by 2030, with China accounting for more than half of overall global demand.