From：Internet Info Agency 2026-08-19 09:38:00
On August 19, Unitree Robotics (SHA: 688836) debuted on the STAR Market of the Shanghai Stock Exchange, with an issue price of RMB 150.80 per share. The stock opened at RMB 1,100, surging by 629%, giving the company a market capitalization exceeding RMB 400 billion. At the opening price, a single winning subscription lot could yield a maximum profit of RMB 470,000. The IPO offered 40.4464 million new shares, representing 10% of the post-offering total share capital, all newly issued shares with no secondary offering of existing shares involved. Gross proceeds amounted to approximately RMB 6.099 billion, with net proceeds after deducting issuance expenses reaching RMB 5.917 billion—nearly RMB 1.9 billion above the originally planned fundraising target of RMB 4.202 billion. The raised funds will be allocated toward R&D of intelligent robot models, robot hardware development, development of new intelligent robot products, and construction of an intelligent robot manufacturing base, with nearly half dedicated to core technology breakthroughs in embodied intelligence models. The final number of valid online subscribers reached a record-high 9.7846 million households, marking the highest online subscription count in STAR Market history. Following the application of the reallocation mechanism, the final online subscription winning rate stood at 0.0181%. According to data, Unitree shipped over 5,500 humanoid robots in 2025, ranking first globally; cumulative sales of its quadruped robots exceeded 33,000 units, with overseas revenue consistently accounting for more than 40% of total revenue. For the same period, the company reported annual revenue of RMB 1.699 billion, with a gross margin from core operations of 60.13%.
