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Unitree becomes first humanoid robot maker to list on China's public markets

Unitree becomes first humanoid robot maker to list on China's public markets

Money Moves

Shares of the world's top-selling humanoid maker close up 460% on their Shanghai debut after a record 8,000-times-oversubscribed IPO

Today: Unitree soars in Shanghai debut

Overview

Updated 1 hour ago

Until now, nobody could buy a share of a pure humanoid-robot company on a Chinese exchange. On August 19, 2026, that changed. Unitree, the world's top-selling humanoid maker, opened trading on Shanghai's STAR Market and closed up 460% from its offering price, after spiking as much as 629% during the day.

The listing puts a public price on a business that barely existed as an industry five years ago. Its IPO drew orders worth more than 8,000 times the shares available, a record for the exchange, and raised about 6.1 billion yuan, or roughly $904 million. For investors, Unitree is now the cleanest bet on whether human-shaped robots become a real market or stay a demo-reel curiosity.

Why it matters

For the first time, buyers of a Chinese stock can bet directly on humanoid robots, and Unitree's price now sets the benchmark for the whole sector.

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Key Indicators

+460%
First-day close
Shares closed at 845 yuan, up 460.3% from the 150.80 yuan offering price.
+629%
Intraday peak
Shares touched 1,100 yuan before paring gains into the close.
$904M
Raised in IPO
About 6.1 billion yuan raised on the Shanghai STAR Market.
8,000x
Oversubscription
Retail demand topped the shares on offer more than 8,000 times, a STAR Market record.
5,500+
Humanoids shipped in 2025
More humanoid units than any other maker worldwide, on top of 33,000-plus quadrupeds.

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People Involved

Organizations Involved

Timeline

August 2016 August 2026

5 events Latest: Today
Tap a bar to jump to that date
  1. Unitree soars in Shanghai debut

    Today Market debut

    Shares spike as much as 629% intraday, then close up 460.3% at 845 yuan. It is the first humanoid maker on mainland public markets.

  2. Record retail demand reported

    Financial

    The IPO draws orders more than 8,000 times the available shares, a STAR Market record, ahead of trading.

  3. IPO priced at 150.80 yuan

    Financial

    Unitree sets its offering price, valuing the company near 61 billion yuan, about $9 billion.

  4. Dancing robots at the Spring Festival Gala

    Public breakthrough

    Unitree humanoids perform a synchronized dance on China's Lunar New Year broadcast, making the brand a household name.

  5. Unitree founded in Hangzhou

    Origin

    Wang Xingxing registers Unitree in a small Binjiang District office after leaving drone maker DJI.

Historical Context

3 moments from history that rhyme with this story — and how they unfolded.

May 2019

Beyond Meat IPO (2019)

Plant-based meat maker Beyond Meat went public in New York at $25 a share and closed its first day up 163%, the best U.S. IPO debut in years. It was the first pure-play name in a buzzy new category.

Then

The stock kept climbing for months as investors chased the meat-alternative story.

Now

As competition rose and growth slowed, shares fell far below the IPO price, wiping out early enthusiasm.

Why this matters now

Beyond Meat shows the risk in being the first listed name in an unproven category: the debut pop reflects the story, not yet the numbers behind it.

July 2020

Cambricon Technologies STAR Market debut (2020)

Chinese AI-chip designer Cambricon listed on the STAR Market and its shares more than tripled on the first day. Investors treated it as the purest public bet on China's push for homegrown artificial-intelligence silicon.

Then

The stock's valuation soared far past the company's modest revenue, drawing warnings about froth.

Now

Shares swung wildly for years before the business grew into part of its price, rewarding patient holders.

Why this matters now

Like Unitree, Cambricon was the first clean public proxy for a hyped hard-tech theme, and its debut showed how STAR Market demand can outrun fundamentals.

July 2020

SMIC returns to Shanghai's STAR Market (2020)

China's largest chipmaker, SMIC, raised billions in a STAR Market listing and jumped more than 200% on debut. Beijing framed it as proof that strategic tech firms could raise big money at home.

Then

The raise gave SMIC a war chest for expansion amid U.S. export limits.

Now

The listing cemented the STAR Market as the venue for China's priority technology champions.

Why this matters now

Unitree's listing continues that policy pattern: keep a strategically favored tech leader public at home, where domestic demand can drive a large debut.

Sources

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