Unitree has set the issue price for its initial public offering on the STAR Market in Shanghai at 150.80 yuan per share. The offering covers 40,446,434 new shares, representing 10% of the share capital post-issuance, for gross proceeds of approximately 6.099 billion yuan. The online subscription opens on 10 August 2026, with the payment deadline set for 12 August 2026.
At this price, the post-IPO market capitalisation stands at approximately 60.99 billion yuan, or nearly 9.04 billion dollars. The valuation multiple reaches 219.23 times earnings, compared to a sector average of 38.56 times for general equipment manufacturing.
- Issue price: 150.80 yuan per share
- Volume: 40,446,434 new shares, 10% of share capital post-issuance
- Gross proceeds: approximately 6.099 billion yuan
- Market capitalisation: approximately 60.99 billion yuan (nearly 9.04 billion dollars)
- Multiple: 219.23 times earnings, compared to 38.56 times for the sector
- Timeline: online subscription on 10 August 2026, payment by 12 August 2026 at the latest
Strategic placement and shareholding
As part of the strategic placement, DeepSeek subscribes to 9.334 million shares, for approximately 141 million yuan, subject to a 36-month lock-up period.
In the share capital, Meituan holds approximately 9.65%, making it the largest external institutional shareholder, ahead of HSG (formerly Sequoia China) at 7.11%.
What Unitree sells
Sales of humanoids reached 867.8 million yuan in 2025, representing 51.78% of total revenue of 1.699 billion yuan. The humanoid segment thus becomes the group’s largest, ahead of quadrupeds. Sales made in the United States account for 13.3% of 2025 revenue.
Sources: Seoul Economic Daily, Jiemian, Sina Finance, Humanoid Guide, Robotics & Automation News.