AIBRIEF
Unitree, the Hangzhou based maker of humanoid and quadruped robots, opens subscription on the Shanghai Stock Exchange's STAR Market in a record 73 day review.
Unitree Robotics opened subscriptions on Monday for an IPO on the Shanghai Stock Exchange's STAR Market, offering about 40.45 million shares at 150.80 yuan (~$22) apiece and targeting roughly 6.10 billion yuan (~$850M) in gross proceeds, per the issuance announcement carried by Xinhua.
Preliminary offline subscriptions totaled 71.46 billion shares after invalid bids and the highest-priced portion were excluded — about 2,760.67 times the initial tranche, the announcement showed. Bloomberg pegs the raise at ~$904M and frames it as the first mainland IPO by a humanoid-robot pure-play.
Founded in 2016 in Hangzhou, Unitree makes biped humanoid and four-legged quadruped robots. Its prospectus shows revenue rising from 159.13M yuan in 2023 to 392.77M in 2024 and 1.70B yuan in 2025, with 2025 net profit of 278.21M yuan. It sold 33,294 quadrupeds and 5,632 humanoids from 2023-2025, and overseas revenue reached 731.66M yuan, 43.65% of its main-business total.
The Shanghai exchange accepted Unitree's application on March 20, 2026, and approved it on June 1 — a 73-day span that Xinhua, citing China Securities Journal, called a record pace on the STAR Market.
Xinhua frames robotics, AI-related products, and innovative drugs as a successor "new three" of Chinese export drivers, after EVs, lithium batteries, and solar.