Unitree priced its Shanghai STAR Market IPO at 150.8 yuan a share on August 6, valuing the company near $9.04 billion and making it the first publicly traded humanoid robot maker. It raises about $904 million against 2025 revenue of 1.7 billion yuan and roughly 60% gross margins.
Read the full story: Unitree's $9B IPO Makes Humanoid Robots a Public Stock →
Transcript
Every humanoid robot valuation until now was a private mark, set by people who wanted it to go up. That just changed. Unitree priced its Shanghai listing at a hundred fifty point eight yuan a share, about nine billion dollars, and became the first humanoid robot maker anyone can actually buy shares in. The numbers underneath are the interesting part. Fifty five hundred humanoids shipped last year, more than any other manufacturer on earth. Revenue quadrupled to one point seven billion yuan. Gross margin near sixty percent. Work the multiple out and you get roughly thirty six times revenue. Expensive, until you notice a private rival carries four times that valuation with no disclosed revenue at all. The catch. Fifty five hundred units is a research tools business, not a labor market.