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Unitree IPO on STAR Market Raises 6.1 Billion Yuan

8/19/2026

25 2 Full Breakdown

Summary

Unitree Debuts Humanoid

Unitree Robotics debuted on Shanghai’s STAR Market, raising 6.1 billion yuan and seeing shares jump 542% to 1,100 yuan.
DeepSeek invested about 140.8 million yuan and Tencent retained its stake in Unitree.
Unitree unveiled a humanoid named “Superman” that can jump two meters and run 12.66 m/s.
Morgan Stanley lifted its 2026 shipment forecast to 50,000 units and expects humanoids to make up 30% of shipments in 2026, rising to 70% by 2028.

Summary

Unitree Blacklisted

The United States placed Unitree on its military-linked blacklist and banned new imports of its robots.
Over 40% of Unitree’s revenue is overseas, so export controls could erode earnings growth.
DeepSeek bought a 2.31% stake with a 36-month lock-up, while state-owned investors China National Petroleum and China Telecom also invested.
Analysts say Unitree must see a surge in factory orders to justify its 219.23-times earnings multiple.

History

Historical Context

After the U.S. Department of Commerce placed Huawei and 70 foreign affiliates on the Entity List on 15 May 2019, Washington expanded export controls to other Chinese tech firms. On 9 June 2026 the Commerce Department added robotics maker Unitree Robotics to the same blacklist, echoing the earlier clampdown that reshaped Huawei’s global market and signaled tighter limits on China’s AI and robot exports.

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Unitree Debuts Humanoid

Unitree Robotics debuted on Shanghai’s STAR Market, raising 6.1 billion yuan and seeing shares jump 542% to 1,100 yuan.
DeepSeek invested about 140.8 million yuan and Tencent retained its stake in Unitree.
Unitree unveiled a humanoid named “Superman” that can jump two meters and run 12.66 m/s.
Morgan Stanley lifted its 2026 shipment forecast to 50,000 units and expects humanoids to make up 30% of shipments in 2026, rising to 70% by 2028.

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