Unitree Robotics IPO priced at 150.8 CNY/share, raising ~6.1B CNY; subscription starts Aug 10

Core Event

Unitree Robotics (688836.SH) released its STAR Market IPO issuance announcement on August 6, setting the issue price at 150.80 RMB/share. The total funds raised are expected to be approximately 6.099 billion RMB, with net proceeds after deducting issuance fees around 5.917 billion RMB. Online and offline subscriptions will begin on August 10.

After the issuance, Unitree Robotics' market cap will be approximately 61 billion RMB. The public offering involves 40.4464 million shares, accounting for 10% of the total share capital post-issuance. CITIC Securities serves as the sponsor (lead underwriter).

Use of Proceeds

85% of the raised funds will be invested in four major R&D directions:

• Intelligent Robot Model R&D: 2.022 billion RMB
• Robot Body R&D: 1.110 billion RMB
• New Intelligent Robot Product Development: 445 million RMB
• Intelligent Robot Manufacturing Base Construction: 624 million RMB

Once the manufacturing base is completed, it will have the capacity to produce 75,000 humanoid robots and 115,000 quadruped robots annually. Compared to the shipment volume of over 5,500 humanoid robots in 2025, production capacity will increase by more than 13 times.

Operational Data

Unitree Robotics expects to achieve revenue between 1.052 billion and 1.128 billion RMB in the first half of 2026, with net profit attributable to parent company shareholders between 258 million and 306 million RMB.

The company chose the second listing standard for the STAR Market ("Expected market cap not less than 10 billion RMB"), and over 100 core employees participated in the subscription of Asset Management Plan No. 1.

Market Focus

Unitree Robotics is one of the representative enterprises in China's humanoid robot sector. This IPO is seen as an important step for the humanoid robot industry moving toward the capital markets. However, it should be noted that compared to Tesla's humanoid robot supply chain, Chinese companies like Unitree and Agibot tend to develop modules in-house, meaning the value content for beneficiaries in the A-share market differs. Investors should be aware of the risks.

🌊 West Tide — AI News Column under WuJie Frontier

Sources: China News Service, Sina Finance, 21st Century Business Herald (2026-08-06)