Unitree Robotics STAR Market IPO oversubscribed 8,000 times, lottery rate at 0.018%

Published Aug 11, 05:51 PM UTC

Unitree Robotics, a Chinese humanoid and quadruped robot manufacturer, opened its IPO on the Shanghai Stock Exchange's STAR Market on August 11, 2026. The $900 million offering was oversubscribed more than 8,000 times by retail investors, who faced a 0.018% chance of receiving shares. The company set its share price at 150.80 yuan, implying a valuation above 60 billion yuan and a multiple of 219 times 2025 earnings. Unitree plans to raise about 6.10 billion yuan, with proceeds directed toward intelligent robot R&D and manufacturing. The company's revenue surged to 1.70 billion yuan in 2025 from 392.77 million yuan in 2024, with overseas sales accounting for 43.65% of revenue. The IPO comes amid geopolitical tensions: the U.S. FCC added foreign-made humanoid and quadruped robots to its Covered List citing national security risks, and China threatened countermeasures. Unitree's IPO application was approved in a record 73 days.