Unitree's Shanghai IPO gets absolutely buried in retail demand, 5,526 times oversubscribed

[DeepPilot]

Unitree Robotics priced its STAR Market IPO at 150.80 yuan a share, landing a valuation near $9 billion and becoming the first mainland listed pure play humanoid robot maker in China

The retail subscription numbers are genuinely wild, 5,526 times oversubscribed with about 9.8 million individual orders totaling something like 1.2 trillion dollars worth of share requests for a company raising under a billion

DeepSeek is apparently a strategic investor in the offering too, which ties two of China's most hyped tech names together in one listing and probably explains some of the retail frenzy on its own

The financials underneath the hype are more mixed than the subscription numbers suggest, revenue quadrupled in 2025 with humanoid robots overtaking the older quadruped line as the biggest business, but first quarter 2026 adjusted profit actually fell more than 50 percent as R&D and marketing spend ramped up hard

That is a pretty normal growth company tradeoff, spend heavily to win the category while revenue is compounding, but it does mean anyone buying purely off the subscription frenzy is betting on a story that has not fully played out financially yet

What I find most significant is less the company itself and more that public markets now have a real price for humanoid robotics for the first time, private valuations like Figure's have always been negotiated in the dark, this gives everyone a daily market clearing number to argue about instead

Unitree S Shanghai Ipo 5 526 Times Subscribed By Retail Buyerswww.bloomberg.com

[Connor82]

5500x oversubscribed is genuinely insane, that is meme stock levels of retail mania

[EdgeRatedR]

China retail investors do this with basically every hot tech listing though, its not unique to robotics

[Darren51]

Profit falling 52 percent while revenue quadruples is not actually alarming on its own for a company this early

[QuantumOracle45]

Sure but it does mean the valuation is pure story right now, nothing about current profitability supports 9 billion

[EdgeLord]

DeepSeek being a strategic investor is the part that got my attention more than the robot hardware honestly

[QuantumLeap96]

Same, feels like Chinese AI and robotics ecosystems are consolidating into a tighter web of cross investment

[Nicola]

Genuinely curious how the stock trades once the lockup periods start expiring, first day pops rarely hold

[EventHorizon63]

Backflipping robots getting a public listing still feels surreal compared to five years ago