Unitree Robotics IPO Shatters Valuation Predictions with 629% Opening Surge

Unitree Robotics' stock skyrocketed on its debut in Shanghai, opening at 1,100 yuan, a staggering 629% above its initial public offering (IPO) price of 150.8 yuan. This unexpected surge surpassed the valuation predicted by crypto derivatives traders who had priced in pre-IPO perpetual futures near $100 on Hyperliquid, implying a valuation of approximately $40.5 billion.

The Hangzhou-based company raised around 6.1 billion yuan, or $905 million, in its IPO and was valued at nearly $9 billion. Perpetual futures for CXMT, another Chinese company, also showed significant trading interest before its debut last month.

Unitree's strong investor demand, including from retail and institutional investors, led to an oversubscription of over 8,000 times among retail investors alone. The company has existing backers such as Tencent and DeepSeek, which invested about 140.8 million yuan ($19.6 million) in Unitree.

The firm also unveiled its latest humanoid robot, Superman, on Monday ahead of the IPO, touting its capabilities to perform a standing jump over 2 meters and reach speeds of up to 12.66 meters per second.