Unitree jumps 629% in Shanghai debut, briefly worth $66 billion

Chinese robotics firm Unitree opened trading on the Shanghai Stock Exchange’s STAR Market on Wednesday, with the price soaring nearly sixfold. 

The stock was priced at 150.8 yuan per share and opened at 1,100 yuan, marking a 629.44% increase. 

At its highest point, the Hangzhou-based company was valued at about 445 billion yuan, or $66 billion. However, the price dropped to 883.9 yuan by midday, lowering the valuation to around 357 billion yuan, or about $53 billion.

Despite the drop in share price, the listing still raised about 6.1 billion yuan, or around $905 million. The company sold about 40.45 million shares, representing a 10% stake, on the STAR Market of the Shanghai Stock Exchange.

Retail frenzy drove bid to 7 trillion yuan

Demand for Unitree shares was very high, even before the debut.  Cryptopolitan reported that offline subscriptions were 2,760 times the number of shares available. Retail bids reached 7 trillion yuan, making the retail portion of the offering oversubscribed by more than 8,000 times.

The IPO created large paper gains. Founder Wang Xingxing owns about 121.4 million shares, which were valued at over 107 billion yuan, or nearly $16 billion, based on the opening price.

Two well-known companies, AI developer DeepSeek and Tencent, were already investors in Unitree. DeepSeek invested an additional 140.8 million yuan, or about $21 million, during the IPO. 

Unitree’s high valuation is supported by strong results. The firm reported 1.7 billion yuan in revenue for 2025, more than four times the previous year, and a net profit of 591 million yuan, as Cryptopolitan earlier reported.

Unitree among the biggest Chinese vendors

Unitree stands out from other humanoid startups because it is already profitable, while many competitors are still losing money.

Unitree makes both bipedal humanoid robots and four-legged robots, which are used for tasks such as hazard detection.

In 2025, Unitree shipped more than 5,500 humanoid robots, which made up 32.4% of the global market. The company has also shipped over 33,000 four-legged robots, giving it nearly 60% of the worldwide market. Overseas sales now make up more than 40% of Unitree’s revenue.

Right before its IPO, Unitree showed off a humanoid robot called Superman. The company says it can jump two meters high and reach a top speed of 12.66 m/s. However, Cryptopolitan noted that these figures come from a company video and have not been independently confirmed.

Unitree’s 629% surge puts it among the top performers for new stock listings in China. The leader on the list is Wuhan Changjin Photonics, which saw a 1,511% gain on its first day.