China's humanoid robot maker lists on Wednesday — small investors asked for more than 8,000 times the shares on offer
Unitree Robotics begins trading on Shanghai's STAR Market on 19 August, becoming the first general-purpose robotics company listed on mainland China. The Hangzhou firm priced its shares at 150.80 yuan, raising about 6.1 billion yuan (roughly $904 million) at a valuation near $9 billion. The retail portion was more than 8,000 times oversubscribed — a record for the STAR Market — leaving individual applicants with roughly a 0.018 percent chance of getting any shares, even after part of the institutional tranche was reallocated to them. The underlying business grew fast in 2025: revenue more than quadrupled to 1.7 billion yuan, and humanoid sales of 867.8 million yuan overtook the four-legged robots the company first became known for, on shipments of more than 5,000 humanoid units.
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