Unitree stock jumps 629% in Shanghai after $904 million IPO
Why it matters: The debut gives mainland investors direct exposure to a leading humanoid-robot maker as Beijing backs embodied AI.
Unitree opened at 1,100 yuan in its Shanghai debut on Wednesday, up 629% from its IPO price of 150.8 yuan after raising 6.1 billion yuan, or about $904 million. The Hangzhou-based company, officially Yushu Technology, is the first publicly traded humanoid robot maker in mainland China. Its retail offering was 5,526 times subscribed, underscoring strong investor demand for embodied AI as attention shifts from foundation models to real-world uses. Unitree said revenue rose to 1.7 billion yuan in 2025 from 393 million yuan a year earlier, while net profit reached 278 million yuan. The trading debut coincided with the opening of the World Robot Conference in Beijing.