On August 10, Unitree Technology officially launched its IPO subscription, and A-shares are about to welcome their “first humanoid robot stock.” Previously, Unitree Technology set its issue price at 150.80 yuan per share, corresponding to a market capitalization of approximately 60.993 billion yuan. The company plans to publicly issue 40.4464 million shares, accounting for 10% of the total share capital after issuance, with total funds expected to be approximately 6.099 billion yuan.
According to the official announcement, Unitree Technology’s issue price-to-earnings ratio is 219.23 times, higher than the industry average of 38.56 times. Total funds raised are expected to be approximately 6.099 billion yuan, with net proceeds of approximately 5.917 billion yuan. The strategic placement was allocated 8.089286 million shares, including to the Social Security Fund, DeepSeek, and China National Petroleum Group. The online subscription date is August 10, and the payment date is August 12.
The Shanghai Stock Exchange’s official website shows that the review status of Unitree Technology Co., Ltd.’s STAR Market IPO changed to “registration effective” on July 6. Unitree Technology’s IPO application was formally accepted by the Shanghai Stock Exchange on March 20, 2026, and proceeded to the listing committee meeting and passed review on June 1, taking only 73 days in total.
Unitree’s fundraising will focus on four core projects: intelligent robot model R&D, robot platform R&D, development of new intelligent robot products, and construction of an intelligent robot manufacturing base. Of these, intelligent robot model R&D alone is expected to receive an investment of 2.022 billion yuan, accounting for nearly half of the total funds raised.
According to the prospectus, from 2023 to 2025, Unitree Technology recorded operating revenue of 159 million yuan, 393 million yuan, and 1.699 billion yuan, respectively, and net profits of -11.1451 million yuan, 95.4747 million yuan, and 278 million yuan, respectively, making it one of the few high-performance general-purpose robotics companies worldwide to achieve profitability.
In the first quarter of 2026, Unitree Technology achieved operating revenue of approximately 423 million yuan, up 68.49% year on year. However, due to substantial increases in period expenses such as R&D and sales expenses, the company’s net profit excluding non-recurring items declined year on year in the first quarter of 2026. The company expects operating revenue for the first half of 2026 to be approximately 1.052 billion yuan to 1.128 billion yuan, representing year-on-year growth of between 35.62% and 45.41%.