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 robo...