Unitree Robotics IPO Sets Stage for Record-Breaking Shanghai Debut

Unitree, a Hangzhou-based robotics company known for its humanoid robots that can run and dance, is gearing up for an initial public offering (IPO) on Shanghai's STAR Market. The company has reportedly raised 6.1 billion yuan ($905 million), selling only about 10% of its enlarged share capital.

This setup has led to extreme demand, with Chinese media citing 'scalpers' offering 410 yuan for stock priced at 150.8 yuan in the IPO. Off-market venues such as Hiive, EquityZen, and UpMarket are also suggesting a sharp premium, with some crypto-style derivatives trading on Hyperliquid and Gate implying even larger jumps.

The excitement around Unitree's IPO is partly driven by policy, as investors see robotics as a strategic priority for China. The company has high-profile backers including Tencent and Alibaba.