Unitree Robotics shares close up 460% in Shanghai debut, a first for humanoid robots

Shares of Unitree Robotics closed up 460% on their first day of trading on Shanghai’s STAR Market on August 19, 2026, making the Chinese company the first listed humanoid-robot maker in mainland China. The stock spiked as much as roughly 630% intraday before paring gains.

The debut followed an IPO that priced on August 6, 2026, raising about 6.1 billion yuan, or roughly $904 million, at a valuation near $9 billion. The first day of trading multiplied that. Post-listing, Unitree’s market value was put at about 342 billion yuan, around $50 billion, on the low end and as high as $66 billion. At those levels Unitree is worth more than US rival Figure AI, last valued near $39 billion.

The business under the valuation is smaller. Unitree shipped more than 5,500 humanoid robots in 2025, an industry-leading figure, and reported 2025 revenue of 1.7 billion yuan, about $252 million, and profit of 600 million yuan, about $89 million. Overseas sales made up roughly 45% of revenue, with 18% from the United States.

IPO filings disclosed a backer list that maps onto Chinese tech: DeepSeek invested about 140.8 million yuan, alongside Alibaba, Ant Group and Tencent. China accounts for the vast majority of global humanoid-robot shipments, by cited industry estimates.

The listing is a milestone more for the market’s appetite than for the company under it. A business with about $252 million in annual revenue now carries a valuation that assumes humanoid robots move from demonstrations to deployment at scale. That has not happened yet.