Unitree Robotics IPO draws over 2,700x oversubscription from Shanghai retail investors

Unitree Robotics, the Chinese humanoid robot maker also known as Yushu Technology, just became the hottest IPO ticket in Shanghai. Retail investors piled in with such ferocity that the offering was oversubscribed by more than 2,700 times the shares on offer.

The company priced its IPO at 150.8 yuan ($22.34) per share on August 6, 2026, putting its total valuation at approximately 61 billion yuan, or about $9.04 billion. Subscriptions opened on August 10, and the result was the kind of demand that makes investment bankers start humming to themselves.

The numbers behind the frenzy

Unitree is selling 40.45 million new shares, representing 10% of its enlarged share capital, aiming to raise 6.1 billion yuan ($904 million).

The listing makes Unitree the first pure-play humanoid robot company to go public on mainland Chinese exchanges.

From DJI engineer to $9B company

Unitree’s CEO Wang Xingxing founded the company in 2016 after leaving DJI, the drone giant that essentially created the consumer drone market.

Unitree reported 2025 revenue of 1.71 billion yuan, a 335% increase year-over-year. More than half of that revenue came from humanoid robot models. The company shipped over 5,500 robots in 2025 alone.

Among Unitree’s strategic investors is DeepSeek, the Chinese AI firm that made waves globally with its large language models.

Where the money goes

The $904 million raised will be directed toward developing advanced robot software and hardware, launching new products, and expanding manufacturing capacity.

What this signals for the robotics market

The $9 billion valuation also sets a benchmark for how the market prices companies in this space. For a firm doing roughly $250 million in annual revenue (using the 2025 figure), that implies investors are paying roughly 36 times sales.