Closing price
¥845
+460.3% vs IPO
Unitree Shares Jump 460% in Shanghai Debut, Robot Maker Trades at 857x Earnings as Stock Exchange Closes
Shares of Unitree Technology Co., Ltd. finished Wednesday trading 460% higher than their issue price. The manufacturer of humanoid robots closed at RMB 845, having reached a high of RMB 1,100 during the session. The company’s market capitalisation stood at roughly RMB 342 billion, equivalent to $50 billion.
Shanghai STAR Market · 688836
Unitree Technology
First-session investor dashboard · Price data as of August 19, 2026, 15:00 CST
MARKET CLOSED
Intraday peak
¥1,100
+629.4% vs IPO
Market value
¥341.8bn
5.6× IPO value
2026 earnings multiple
~857×
STAR average ~130×
Price discovery: scarcity met late-session gravity
Milestones, not a continuous intraday series. The stock closed 23.2% below its peak.
Valuation gap
2026 earnings multiple, approximate.
Revenue scale-up
RMB millions; FY2023–FY2025.
Growth quality
| Metric | Latest verified value |
|---|---|
| FY2025 adjusted net profit | ¥590.8m |
| FY2025 main-business gross margin | 60.13% |
| Overseas revenue share | 43.65% |
| Q1 2026 revenue growth | +68.49% |
| Q1 2026 adjusted profit growth | -52.55% |
| 2025 humanoid shipments | 5,500+ |
Analyst coverage
Conventional post-list buy/hold/sell consensus was not established by 19:05 CST.
| Source | Published signal |
|---|---|
| CITIC, sponsor | ¥50.6bn–¥55.9bn pre-list value |
| Morningstar | Commercial ROI remains the test |
| Consensus | NOT AVAILABLE |
Investor risk monitor
ValuationVery high
ExecutionHigh
Trade limitsHigh
LiquidityElevated
Only 10% floatedU.S. was ~13% of 2025 revenueProfitable operating base
What changes the thesis next
| Evidence to watch | Bull case | Bear case | Timing |
|---|---|---|---|
| Commercial deployments | Repeat industrial orders | Demo and research demand dominates | Next results |
| H1 2026 preliminary range | Revenue near ¥1.128bn | Adjusted profit near ¥236m | Interim filing |
| Margin path | Scale offsets price cuts | R&D and selling costs keep rising | Quarterly |
| Export mix | Europe offsets U.S. | Restrictions broaden | Ongoing |
Unitree IPO Oversubscribed by 8,289 Times Among Retail Investors, Values Firm at 219 Times Earnings
Retail investors placed a total of 53.64 billion share orders for Unitree Robotics, resulting in the online portion being oversubscribed by 8,288.82 times ahead of a clawback. The allotment notice from the issuer reported a final allocation rate of 0.01809759%.
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