Unitree prices Shanghai IPO at about $9 billion, a first for a humanoid-robot maker

Chinese humanoid-robot maker Unitree Robotics priced its Shanghai STAR Market initial public offering at 150.80 yuan ($22.34) a share on August 6, 2026, valuing the company at about 61 billion yuan, or roughly $9.04 billion.

The listing would make Unitree, formally Yushu Technology, mainland China’s first publicly traded humanoid-robot company, a milestone for a sector that has drawn heavy state and private investment as Beijing pushes to lead in embodied AI. The company is targeting roughly 6.1 billion yuan (about $904 million) from the sale of 40.4 million new shares, near 10 percent of its enlarged share capital. Subscriptions open August 10 to 12.

DeepSeek’s parent, Hangzhou DeepSeek Artificial Intelligence Basic Technology Research, is a strategic placement investor in the offering, receiving 933,400 shares worth about 141 million yuan. The two companies framed the tie-up as pairing AI models with robotics to improve embodied robots’ ability to interpret complex real-world situations. Unitree said proceeds are earmarked for robot software and hardware development, new product launches and building a manufacturing base.

Reported valuations vary across accounts of the deal, from roughly 50 billion to 61 billion yuan for the post-listing figure, and the numbers rest on filings that could not be independently confirmed this cycle. A first-of-its-kind listing in a hot sector can also swing sharply once shares begin trading.

The near-term signal is how the stock performs against its pricing after subscriptions close, and whether other Chinese robot makers follow Unitree to the public markets.