Unitree IPO Date: When Will Unitree Robotics Go Public?

 

The countdown on when Unitree Robotics will go public has entered its final stretch. The Hangzhou-based robot maker formally launched its STAR Market issuance process late on July 30, with preliminary price inquiries set for August 5, online and offline subscriptions opening simultaneously on August 10, and final results published on August 14. Per industry expectations cited by local outlets including 21st Century Business Herald, the actual listing may take place around August 19, though the official trading date still awaits confirmation from the Shanghai Stock Exchange. The offering targets roughly 4.2 billion yuan (about $620 million) at an implied base valuation near 42 billion yuan, making Unitree the first humanoid robotics stock on China's A-share market. Interest in this IPO runs far beyond a routine listing. It hands global investors their first publicly priced, profitable humanoid robotics company, and it arrives at an extraordinary moment, with ChangXin Memory's 466% first-day surge on July 27 igniting retail subscription fever just as the United States, two days before the launch, announced import curbs on foreign-made robots that effectively close one of Unitree's largest overseas markets.

 

 

 

Unitree formally launched its STAR Market IPO on July 30, with price inquiries on August 5, the offer price set on August 6, subscriptions on August 10, payment due August 12 and final results published August 14, while the listing itself is expected by local industry watchers around August 19 pending official exchange confirmation.

 

The offering comprises 40.4464 million new shares, 10% of post-IPO capital with no sale of existing holdings, targeting roughly 4.2 billion yuan at a base valuation near 42 billion yuan (about $6.2 billion), with CITIC Securities as sponsor and lead underwriter.

 

The China Securities Regulatory Commission approved registration in early July, completing the journey from the Shanghai Stock Exchange's March 20 acceptance to approval in a record 104 days, the fastest full-cycle review in STAR Market history.

 

The prospectus shows 2025 revenue of 1.708 billion yuan, up 335%, with a 60.27% gross margin and adjusted net profit of 600.1 million yuan, alongside more than 5,500 humanoid robots shipped in 2025 for a world-leading 32.4% share.

 

Growth is decelerating, with first-half 2026 revenue guided to 1.052 to 1.128 billion yuan, up roughly 35.6% to 45.4% versus 332% growth a year earlier, and adjusted net profit expected to fall about 6% to 22% on surging R&D and sales expenses.

 

 

The speed of this listing is itself a signal. Per Caixin Global's reporting, Unitree formally launched its IPO on Thursday, July 30, aiming to raise 4.2 billion yuan at an implied valuation of 42 billion yuan, with the record-breaking 104-day approval process underscoring Beijing's push to fast-track capital market access for strategic AI and robotics champions. For comparison, similar high-profile applicants have needed around 148 days, while ordinary A-share IPO cycles typically run 6 to 12 months.

 

The timetable is now fully specified. Per Gasgoo's reporting, preliminary pricing inquiries take place on August 5, with offline and online subscriptions beginning simultaneously on August 10 and payment due by August 12. The South China Morning Post adds two key markers, with the offer price to be set on August 6 and final results published on August 14.

 

 

A distinction readers should hold onto is that the subscription dates are officially confirmed while the listing date is not yet formally announced. Per the Seoul Economic Daily citing 21st Century Business Herald, industry watchers expect the actual listing to take place around August 19. Under STAR Market convention, trading typically begins several sessions after final results are published, making mid to late August the reasonable window, but the precise date must come from official announcements by the Shanghai Stock Exchange and the company.

 

 

The filing presents both a hyper-growth company and a decelerating one, and grasping that contrast is central to assessing this IPO.

 

 

Per Tech Market Briefs' prospectus review, Unitree posted 2025 revenue of 1.708 billion yuan, up 335%, with a 60.27% gross margin and adjusted net profit of 600.1 million yuan, and has remained profitable for consecutive years since 2020, a rarity in a sector dominated by cash-burning peers. The shipment data is equally striking, with more than 5,500 humanoids delivered in 2025 for a world-leading 32.4% unit share, alongside over 60% share in quadruped robots. Humanoids have overtaken quadrupeds, climbing from 27.6% of revenue in 2024 to more than half, completing the transition from robot-dog maker to humanoid platform.

 

 

Per BigGo Finance's analysis of the latest disclosures, first-half 2026 revenue is guided to 1.052 to 1.128 billion yuan, with growth slowing to roughly 35.6% to 45.4% from 332% a year earlier, and adjusted net profit expected to decline about 6% to 22%. Audited first-quarter figures were blunter, with revenue of 423 million yuan up 68.49% but net profit of 50.01 million yuan down 47.69%. The company attributes the profit squeeze to surging R&D and sales spending, with Q1 R&D expenses up 38.33 million yuan year over year and major brand campaigns including the CCTV Spring Festival Gala. Average humanoid selling prices have also fallen from 590,000 yuan to 166,400 yuan, a clear volume-over-price strategy, and the prospectus itself warns growth may decelerate as the revenue base expands and competition intensifies.

 

 

 

The market environment Unitree enters was transformed by a precedent. Per TechTimes' analysis, ChangXin Memory Technologies, China's largest DRAM maker, debuted on the STAR Market on July 27 and surged 466% on day one, closing at 49 yuan against an 8.66 yuan offer price. Retail investors energized by that spectacle are expected to bring intense demand to Unitree's subscription. Secondary-market chatter has anchored well above the 42 billion yuan base, with some discussion pointing beyond 100 billion yuan, though such figures reflect market sentiment rather than any official guidance.

 

 

The other variable points the opposite way. Two days before the launch, the United States announced the addition of foreign-made humanoid and quadruped robots to the FCC's restricted list, effectively banning new imports. Unitree's G1 humanoid and Go2 robot dog had meaningful overseas sales, including in the US, and the restriction closes one of its largest addressable export markets. Post-listing quarterly disclosures on overseas revenue will provide the first hard evidence of the actual impact. On the policy side, embodied intelligence features in both China's 2025 Government Work Report and its 15th Five-Year Plan proposal, so this listing carries the twin narratives of industrial policy and geopolitical competition simultaneously.

 

 

For global investors unable to participate in A-share subscriptions, the significance lies in the birth of a pricing benchmark. Humanoid robotics valuations have until now come entirely from private markets, with US-based Figure AI reportedly valued as high as $39 billion without scale revenue, while Unitree brings real revenue, profit and shipments to public markets as a comparable yardstick. Its post-listing price-to-sales and price-to-earnings multiples will become the reference frame for repricing the entire sector, including US-listed robotics names and related ETFs.

 

For crypto market participants, the connection runs closer than it appears. Robotics and embodied intelligence extend the AI narrative, and the linkage between AI sector tokens and tech equity risk appetite has been repeatedly demonstrated this cycle. Some trading platforms have also begun offering derivative instruments around prominent pre-listing and newly listed companies, and MEXC has listed USDT-settled futures tied to Unitree, allowing users within a crypto account framework to track shifting price expectations for the name. Such products are highly volatile, and understanding the contract mechanics and risks is essential before participating.

 

 

 

 

Price inquiries on August 5, the offer price on August 6, subscriptions on August 10 and final results on August 14, followed by the official listing date pending exchange confirmation, with industry expectations centering around August 19. The pricing step deserves particular attention, since where the offer price lands relative to the 42 billion yuan base valuation will define the elasticity of the debut.

 

 

First, valuation risk. A CXMT-style debut surge would detach the stock sharply from fundamentals, and the fact that first-half adjusted profit is declining will be retested every earnings season thereafter. Second, export risk, since the real impact of the US import curbs will surface gradually in post-listing order data, and a visible contraction in overseas revenue would force a rethink of the growth model. Third, competitive risk, with average humanoid prices falling from 590,000 to 166,400 yuan signaling that a price war has begun and putting the 60% gross margin under scrutiny. Fourth, liquidity structure risk, since only 10% of shares are being floated, and a small free float combined with subscription fever can produce extreme two-way volatility in early trading.

 

 

What genuinely matters about this IPO is not another Chinese tech listing but that humanoid robotics gains its first continuously priced public anchor. Until now the sector's valuation framework rested entirely on private funding chatter, and the gulf between Figure AI's reported $39 billion mark and Unitree's 42 billion yuan issuance valuation itself measures how distorted private pricing can be. Once listed, Unitree's quarterly shipments, average prices and gross margins become public data, and valuation discipline will be imposed on the entire category.

 

Two misreadings look likely. The first is treating CXMT's 466% debut as a template for Unitree. The industrial logic differs completely, since CXMT benefits from a memory shortage narrative running into 2028, while Unitree faces the early-commercialization reality of growth slowing from 332% to around 40% and average prices repeatedly halving. Substituting subscription euphoria for fundamental analysis is especially dangerous with only a 10% free float. The second is underestimating the long-term weight of the US import curbs. Domestic policy orders, including the directive for 10,000 humanoids deployed by the end of 2026, can fill the gap near term, but a hardware company severed from its largest overseas market warrants a geopolitical discount that current market discussion barely reflects.

 

What investors should track next is the cross validation of three data sets. The premium of the final offer price set on August 6 relative to the 42 billion yuan base, which is institutions expressing judgment with real capital during book-building. The overseas revenue share in the first post-listing quarterly report, the direct test of the import curbs' actual bite. And the trajectory of average humanoid selling prices, since price stability is the precondition for the margin structure and the business model itself.

 

For cross-asset investors, the broader implication is that Unitree's listing completes the AI narrative's pricing chain from chips (Nvidia, CXMT) through cloud (Microsoft Azure) to embodied endpoints. Sharp valuation moves in any link of that chain transmit through risk appetite to adjacent links, including AI and robotics themed tokens in crypto. When a sector shifts from private to public pricing, volatility typically rises before it settles, and early participants should meet that transition with position discipline far stricter than usual.

 

 

 

The subscription timetable is officially confirmed, with price inquiries on August 5, the offer price set on August 6, online and offline subscriptions on August 10, payment due August 12 and final results published August 14. The formal listing date has not been officially announced. Per industry expectations cited by local outlets including 21st Century Business Herald, trading may begin around August 19, but the precise date must come from official announcements by the Shanghai Stock Exchange and the company.

 

 

The offering comprises 40.4464 million new shares, 10% of post-IPO capital, entirely new shares with no sale of existing holdings, bringing total shares to about 404 million. The target raise is roughly 4.2 billion yuan (about $620 million), implying a base valuation near 42 billion yuan (about $6.2 billion). Around 85% of proceeds are earmarked for R&D, spanning robot AI models, robot-body development, new products and a smart manufacturing base. CITIC Securities is sponsor and lead underwriter.

 

 

Unitree is a rare profitable company in humanoid robotics, having remained in the black since 2020. It posted 2025 revenue of 1.708 billion yuan, up 335%, with a 60.27% gross margin and adjusted net profit of 600.1 million yuan, shipping more than 5,500 humanoids for a world-leading share. Growth is decelerating, however, with first-half 2026 revenue guided up roughly 35.6% to 45.4% and adjusted net profit expected to fall about 6% to 22% on surging R&D and sales costs, while average humanoid prices have dropped from 590,000 to 166,400 yuan.

 

 

Mainland A-share investors with STAR Market trading permissions can participate in the online subscription on August 10, subject to the board's thresholds of 500,000 yuan in assets and 24 months of trading experience. Overseas investors cannot subscribe directly and may gain exposure after listing through qualified channels such as Stock Connect if the name is included, or through derivative instruments offered on some platforms, though derivatives are highly volatile and require full understanding of the product mechanics and risks beforehand.

 

 

Two days before the launch, the United States announced import curbs covering foreign-made humanoid and quadruped robots, effectively closing one of Unitree's largest addressable export markets. Near term, domestic policy orders provide a buffer, with China directing 10,000 humanoid robots into factories, hospitals and disaster response by the end of 2026. The medium-term impact will be verified through the overseas revenue share in post-listing quarterly reports, and a visible contraction would force a rethink of both the growth model and the valuation.

 

 

It delivers the sector's first continuously priced public benchmark. Humanoid robotics valuations have until now rested entirely on private markets, with Figure AI reportedly valued as high as $39 billion without scale revenue. Once Unitree lists with real revenue, profit and shipments, its multiples become the reference frame for repricing the entire category, spanning US-listed robotics names, related ETFs and even AI and robotics themed tokens in crypto, with valuation discipline imposed across the board.

 

 

Four stand out. Valuation risk, since the CXMT precedent of a 466% debut has inflated expectations and sentiment-driven pricing can retrace just as violently. Fundamental risk, with growth already slowing from 332% to around 40% and profit declining year over year in early commercialization. Geopolitical risk, as the true impact of the US import curbs has yet to appear in the data. And liquidity risk, since a 10% free float combined with subscription fever can produce extreme two-way swings, making position management more important than directional conviction.

 

 

This content is provided for informational purposes only and does not constitute investment advice, financial advice, legal advice, tax advice or a recommendation to buy or sell any asset. Prices of equities, new listings, derivatives and crypto assets can move sharply, with newly listed stocks and related derivative instruments particularly volatile and capable of significant gains or losses within very short periods. Past performance, technical indicators and on-chain data cannot guarantee future results, and the listing timeline expectations, valuation discussion and scenarios presented here are built on public information, so actual outcomes may differ materially, with the official announcements of the Shanghai Stock Exchange, the China Securities Regulatory Commission and Unitree Robotics taking precedence. Readers should conduct their own research and reach independent conclusions based on their financial circumstances, investment objectives and risk tolerance, consulting licensed professionals where appropriate. The MEXC Crypto Pulse Team accepts no liability for any direct or indirect losses arising from the use of or reliance on this content.

 

 

James Mitchell specializes in technical analysis, market trends, and trading strategies for both Bitcoin and altcoins. Based in London, he has over 10 years of experience in financial markets. Before joining MEXC Learn, James worked as a senior analyst at a leading European investment firm, where he developed expertise in risk management and quantitative trading. His transition to cryptocurrency markets began in 2017, and he has since become recognized for his data-driven approach. He holds a Master's degree in Financial Economics from the London School of Economics. His analytical approach combines traditional technical analysis with on-chain metrics to provide readers with actionable insights.

 

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