Unitree Technology has priced its Shanghai STAR Market initial public offering at RMB 150.80 per share, valuing the humanoid- and quadruped-robot maker at approximately RMB 61 billion ($9.04 billion) before trading begins.
Offering and valuation
Unitree plans to sell about 40.45 million new shares, equivalent to 10% of its enlarged share capital. At the final offer price, the company is set to raise approximately RMB 6.1 billion.
The pricing is substantially above the RMB 4.2 billion fundraising target described in Unitree’s earlier prospectus. Proceeds are intended to support robot development, new products and manufacturing capacity.
Trading code and subscription code
The Shanghai STAR Market security code is 688836. The online subscription code is 787836. These numbers serve different functions and should not be treated as interchangeable tickers.
Current status: IPO priced — trading has not yet started. Robot Harbour will add Unitree to the live market-price table only after the first trading session and supported quote symbol are confirmed.
Why the IPO matters
If trading begins as planned, Unitree would become the first mainland-listed Chinese manufacturer focused on humanoid robots. The offering therefore creates a public-market valuation reference for a robotics segment whose best-known developers—including Figure AI, 1X, Apptronik and AGIBOT—remain privately held.
Chinese AI company DeepSeek participated as a strategic investor, investing RMB 140.8 million in the offering. The link between a leading AI developer and one of the largest commercial robot manufacturers also underlines the growing convergence between foundation models, embodied intelligence and physical hardware.
Financial performance behind the valuation
Unitree’s 2025 revenue rose more than fourfold to RMB 1.7 billion, according to Reuters. Humanoid robots generated RMB 867.8 million, overtaking the company’s four-legged platforms as its largest reported product segment.
Growth moderated in the first quarter of 2026: revenue increased 68.5%, while profit excluding one-off items fell 52.6% as research, product development and marketing costs increased. The figures show both the commercial momentum behind the IPO and the expense of maintaining rapid product development.
UK and European relevance
The codes relate to a Shanghai STAR Market listing, not a London or US security. For UK and European readers, the larger significance is the valuation benchmark it establishes for global humanoid-robotics companies and the additional capital available to a manufacturer already selling robots internationally.
Unitree’s products, distribution and support remain separate questions from its listing status. Robot Harbour continues to track UK and European availability, warranty coverage, service infrastructure and confirmed deployments independently.
Robot Harbour tracking
The Unitree Robotics company profile now records the pricing milestone and the distinction between the security and subscription codes. The Market Tracker will keep Unitree outside the live-price table until trading is confirmed.