Unitree, the Hangzhou humanoid-robot maker, has set its IPO offer price at 150.80 yuan per share, valuing the company at 60.9 billion yuan (roughly 8.5 billion US dollars) and pulling in 1.9 billion yuan more than the shares on offer. Institutions pushed the price about 45 percent above the preliminary estimate, a repricing that lands Unitree among the most expensive new listings in the history of China’s A-share market.
The detail that matters for Asian investors is the company it now keeps on that list. Of the priciest debut subscriptions ever recorded on the exchange, the two new entrants for 2026 are Unitree, a humanoid-robot maker, and Moore Threads, a domestic GPU designer. The sectors that topped this table in earlier years, solar inverters, lithium batteries, vaccines, are now behind it. In 2026, the most expensive ticket on China’s exchange is written in three words: humanoid robotics.
What the price is actually betting on
The bull case is built on shipment curves, not hype. China produced 90 percent of global humanoid-robot output in the second quarter of 2026, and Chinese robot exporters grew shipments 210 percent year on year. Morgan Stanley has lifted its 2026 China shipment forecast twice this year, from 28,000 units to 50,000, implying a near four-fold jump from the 13,000 units the world shipped in all of 2025.
Long-range estimates stretch the imagination further. RBC projects a 9 trillion dollar global humanoid market by 2050, with China holding more than 60 percent of it. Goldman Sachs models 1.4 million units shipped in 2035 and a market between 38 billion and 152 billion dollars. Morgan Stanley’s own 2035 figure reaches 322 billion dollars. Even after discounting the most enthusiastic forecasts, the consensus direction is the same: this is a market compounding at triple-digit rates.
The repricing is the news
Unitree’s ascent is not just a company story. When institutional capital bids a robot maker 45 percent above guidance and the exchange’s priciest new listing becomes a humanoid, the market is signalling that embodied AI has moved from demonstration to depreciation schedule. For investors tracking where Asian robotics capital is flowing, the anchor price has just been set, and everything else in the sector will be measured against it.
Read the original report (in Chinese)
*Translated and adapted from Ofweek Robotics (https://robot.ofweek.com/2026-08/ART-898890-12005-30697537.html).*