Unitree rockets in STAR Market debut

Unitree Robotics began trading on Shanghai’s STAR Market with a sharply higher opening price, underscoring intense investor interest in the company’s initial public offering. Shares opened at 1,100 yuan per share, compared with an IPO price of 150.80 yuan, placing the first trade more than six times above the offer level. Reports described the opening move as an increase of roughly 629% from the IPO price, reflecting one of the most prominent first-day performances on the market this year.

At the opening level, Unitree’s implied market value was put near 445 billion yuan. Intraday, shares were reported trading around 968.1 yuan at points during the first session, indicating continued high valuation even after pulling back from the peak opening quote. The strong start highlighted investors’ appetite for exposure to China’s advanced robotics industry through a high-profile new listing.

Unitree’s IPO was priced at 150.80 yuan per share, a level that valued the company at about 61 billion yuan immediately after the offer, before trading began. The company raised about 6.1 billion yuan in gross proceeds through the sale of roughly 40.45 million new shares. These new shares represented around 10% of Unitree’s enlarged share capital, establishing a free float that enabled broad participation in the trading debut.

The funds raised place the offering among the larger recent technology-related IPOs on the STAR Market. The size of the deal and the subsequent valuation jump on the first day created a sizable public market benchmark for Unitree’s business and for comparable companies in the robotics field seeking capital onshore.

Demand from individual investors ahead of the listing was described as exceptionally strong. Reports on the book-building and public subscription process characterized the IPO as massively oversubscribed, with the retail tranche cited in some accounts as more than 8,000 times covered. This level of interest indicated that the available shares for public investors were far below the volume of orders submitted.

Heavy oversubscription contributed to the tight initial supply of shares once trading commenced, helping to underpin the sharp price jump at the open. The intensity of demand also pointed to strong domestic enthusiasm for high-growth technology names on the STAR Market, even amid broader market volatility.

Unitree’s listing marked the first time a pure-play humanoid robot maker has been admitted to a mainland Chinese stock exchange. The debut is being viewed as a bellwether for China’s robotics sector, offering one of the first large-scale public valuations for a company focused on humanoid and advanced robotic systems. Market participants see the new listing as a reference point for investors and peers considering future flotations in related segments.

The strong first-day performance on the STAR Market also reinforces the venue’s role as a hub for high-technology and growth-oriented companies. By attracting substantial institutional and retail demand for Unitree shares, the market has further positioned itself as a primary channel for capital raising in strategic industries such as robotics and automation.