AIBRIEF
The Hangzhou maker of the humanoid robots seen dancing on China's Spring Festival Gala (state televised Lunar New Year variety show) raised ~$1.
Unitree, the Hangzhou maker of the humanoid robots seen dancing at China's Spring Festival Gala state-televised Lunar New Year variety show, is set to become mainland China's first publicly traded humanoid robot company after its Shanghai IPO drew 5,526 times more retail demand than shares on offer, per an exchange filing reported by Bloomberg.
The retail tranche pulled 9.8 million individual orders for 40.4 million shares. Unitree, officially Yushu Technology, raised about 6.1 billion yuan (roughly US$1.2 billion) at an implied ~US$9 billion listing valuation. Trading is expected to begin this month on the STAR Market, Shanghai's tech-and-innovation board for growth-stage companies.
About 20% of the offering was allocated to strategic investors, including a Tencent Holdings-affiliated investment vehicle. The filing labels the vehicle "DeepSeek," distinct from the well-known DeepSeek AI lab. The vehicle received a 2.31% stake under a three-year lock-up, with collaboration framed around embodied-intelligence models. Other named strategic investors include the investment arms of China National Petroleum, China Southern Power Grid, and China Telecom.
A 5,526x retail ratio on a Chinese A-share IPO reflects domestic retail mechanics and small-lottery allotment structures rather than a free-market clearing price. The bookbuilding range, not a tested secondary-market print, sets the ~US$9 billion valuation.
Unitree's debut puts a public marker on a Chinese robotics pipeline that already includes Leju Robotics, Deep Robotics, and a Hong Kong listing pursued by AgiBot.