- Robot maker’s valuation jumps above earlier market expectations ahead of August 10 subscription
- IPO marks one of China’s fastest STAR Market review processes this year
Unitree (宇树科技), a leading embodied robotics developer, has set the price for its Shanghai STAR Market initial public offering at 150.8 yuan ($22.34) per share, higher than earlier market expectations and marking a major milestone for China’s emerging humanoid robotics industry.
At this valuation, Unitree will be worth 60.9 billion yuan, making founder and chief executive Wang Xingxing — who owns 23.82% of the company — the youngest post-1990s billionaire among entrepreneurs of STAR Market-listed companies. Wang, a Ningbo native, was born in 1990.
The company said late August 6 that investors applying for one standard lot of 500 shares will need to pay 75,400 yuan.
Unitree will hold its investor roadshow on August 7, with online and offline subscriptions scheduled for August 10 and payment due by August 12.
Earlier market estimates had placed Unitree’s IPO price at around 104 yuan per share, meaning the final price is nearly 45% higher than those expectations.
According to the company’s announcement, the final pricing was determined after the issuer and lead underwriter evaluated Unitree’s investment value, comparable listed companies, industry valuation levels, investor demand, market conditions, fundraising requirements and underwriting risks.
The company will no longer conduct cumulative bidding for offline investors after setting the final offering price.
Fast-tracked listing
Unitree’s IPO has moved through China’s registration process at an unusually rapid pace.
From application acceptance to approval by the listing committee, the process took only 73 days, making it the fastest STAR Market IPO review so far this year.
The company plans to complete its share subscription process after the roadshow, bringing it closer to becoming one of China’s first publicly listed companies focused on humanoid and embodied intelligence technologies.
Betting on Embodied AI
According to its prospectus, Unitree plans to use proceeds from the IPO to fund four key areas: intelligent robot model development, robot hardware research, product development and expansion of manufacturing facilities.
The listing comes as humanoid robots become a strategic focus for China’s technology industry, with companies racing to commercialize robots capable of operating in factories, logistics, services and other real-world environments.
Unitree, widely known as one of the “Six Dragons of Hangzhou,” has gained global recognition through its quadruped and humanoid robot platforms, becoming one of the most visible Chinese robotics companies in the global embodied AI race.
The company’s debut will provide one of the first public-market valuation benchmarks for Chinas humanoid robotics sector, as investors seek exposure to what many view as the next major AI hardware frontier.
