Unitree Robotics stock closed 460% above its IPO price on Wednesday, finishing at 845 yuan after the humanoid robot maker's first session on Shanghai's STAR Market, having briefly surged nearly 630% before pulling back. The closing price values Unitree at roughly $50 billion, according to . That first-day gain exceeded the average opening-day pop of 279% for new listings in China so far this year, and came even as China's benchmark index fell 3% on the day.
To fund its listing, the Hangzhou-based company priced shares at 150.8 yuan each, bringing in approximately 6.1 billion yuan ($905 million) in total proceeds. Among the IPO's backers was Chinese AI company DeepSeek, which put in about 140.8 million yuan according to a company filing, while Tencent holds a stake as a prior investor. Unitree competes with Tesla and Hyundai Motor Group-owned Boston Dynamics, according to .
The company makes bipedal humanoid robots designed to walk and handle objects, alongside quadruped models deployed for applications such as identifying hazards. Also on Monday, Unitree introduced a humanoid robot dubbed "Superman," which it says can jump two meters from a standing position and run at speeds of up to 12.66 meters per second. The listing arrived as the World Robot Conference opened in Beijing, drawing hundreds of companies — predominantly Chinese — to show off new products.
William Xin, chairman of Spring Mountain Pu Jiang Investment Management, said that going public strengthens Unitree's position at a time when the vast majority of rivals in the sector have yet to turn a profit. "At this early stage of competition, whoever gets listed and has visibility can grab the resources and have staying power," Xin said. Unitree's listing follows that of memory chipmaker CXMT on the same exchange last month, when that company's stock rose 466% on its first trading day.
The IPO comes as Unitree navigates rising trade pressure. The company's prospectus identified the U.S. among its key markets and flagged potential American trade restrictions as a geopolitical risk. The FCC added foreign-made humanoid and quadruped robots to its Covered List in late July, citing national security concerns, prompting China's commerce ministry to threaten countermeasures.
Overseas sales accounted for about 44% of Unitree's main-business revenue in 2025. Unitree's revenue rose to 1.70 billion yuan in 2025 from 392.77 million yuan in 2024, and the company posted a net profit of 278.21 million yuan in 2025, according to its prospectus. The company shipped more than 5,000 humanoid units in 2025.
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