$688836 Unitree Robotics Set for Shanghai IPO as U.S. Investors Face Limited Access

Unitree Robotics is set to list in Shanghai at C¥150.80 ($22.36) per share, giving the humanoid robot maker a valuation of about C¥61 billion ($9 billion). Its retail offering is reportedly oversubscribed by 8,000 times, while crypto perpetuals linked to the upcoming shares were trading around $99.70, roughly four times the IPO price.
Unitree is the first major humanoid robot maker to list in China and has gained global attention for its humanoid robots and robotic dogs. The company recently unveiled a “Superman” prototype that it says can reach 12.66 meters per second and jump 2 meters, although those claims have not been independently tested.
The humanoid robotics market is expanding rapidly, with global shipments expected to reach 60,000 units in 2026, nearly triple the previous year. Chinese companies account for about 97% of shipments, while China represents roughly 85% of global demand.
For U.S. investors, directly buying Unitree shares will initially be difficult because its Shanghai A-shares are generally restricted to investors with mainland-market access. Investors may instead gain exposure through ETFs such as the KraneShares Humanoid Robotics and Physical AI ETF, which plans to allocate about 8% to Unitree.