Unitree starts pricing its IPO — the first humanoid maker to list on China's A-share market

Unitree Robotics began preliminary price inquiries for its STAR Market flotation on Wednesday 5 August 2026, the step that sets the issue price before subscription opens on 10 August. The offer covers about 40.45 million new shares — 10 percent of the enlarged share capital — with a target of 4.2 billion yuan (roughly 0.6 billion US dollars). China's securities regulator approved the registration on 2 July, so barely a month passed between clearance and pricing. Valuation estimates diverge sharply: investment banks put the company at about 40 billion yuan after listing, while CCB International sees 60 to 100 billion, with an optimistic case of 109 billion. The numbers underneath are what make this more than a financing story. Unitree shipped more than 5,500 humanoid robots in 2025 — first in the world by unit volume — and humanoids brought in 868 million yuan, 51.78 percent of total revenue. A company whose business was quadruped robots is now, by its own accounts, mostly a humanoid company. It will be the first embodied-intelligence firm on the A-share market. That gives the sector something it has lacked: a listed pure-play whose quarterly numbers are public, against which the shipment claims that circulate around this industry can finally be checked. wujec.ai catalogues four Unitree machines: G1, H1 Pro, H2 and the Go2 quadruped.