Robot fever: Unitree IPO demand tops initial Shanghai offering 2,700 times over

Chinese robot maker Unitree Robotics opened subscriptions for its initial public offering on the Shanghai Stock Exchange's STAR Market on Aug. 10, Xinhua reported. The Hangzhou-based company is offering 40.446434 million shares at 150.80 yuan each, representing 10 percent of its post-offering share capital, according to the issuance announcement. The offering is expected to raise about 6.10 billion yuan in gross proceeds. After invalid bids and the highest-priced portion of proposed subscriptions were excluded, the remaining proposed offline subscriptions totaled 71.463 billion shares, 2,760.67 times the initial offline offering size before adjustment for strategic placement, the announcement said. China's securities regulator approved Unitree's IPO registration application in a decision dated July 1. According to its prospectus, Unitree mainly develops, produces and sells high-performance general-purpose humanoid and quadruped robots, robot components and embodied intelligence models. The prospectus shows that from 2023 to 2025, Unitree sold 33,294 quadruped robots and 5,632 humanoid robots, with humanoid robot shipments exceeding 5,500 units in 2025.