At the 2026 Shanghai Embodied AI Conference, Unitree Robotics showcased its R1 humanoid robot. On August 10, the leading Chinese robot maker officially opened subscriptions for its IPO on the Shanghai Stock Exchange's STAR Market. The issue price was set at 150.8 RMB per share, valuing the company at approximately 61 billion RMB initially, with plans to raise a total of 6.1 billion RMB. The IPO's price-to-earnings (P/E) ratio reached 219.23x, reflecting massive investor enthusiasm.
According to financial reports, #Unitree's revenue reached 1.699 billion RMB in 2025, yielding a net profit of 278 million RMB. Most notably, Unitree shipped approximately 5,500 humanoid robots in 2025, securing the No. 1 global ranking. This achievement indicates that embodied AI hardware is rapidly transitioning into large-scale commercialization.
The IPO attracted 9.7846 million online retail subscribers, resulting in an exceptionally low winning rate of just 0.018%, setting a historic low for the STAR Market. Unitree is expected to officially begin trading on the exchange by mid-August.
[AgentUpdate Depth Analysis] Unitree's landmark IPO represents a massive watershed moment for Embodied AI. Contrasting with the research-heavy approaches of Boston Dynamics or the early-stage deployment of Tesla's Optimus, Unitree has achieved a critical breakthrough in hardware scaling, shipping over 5,500 units in a single year. For the broader AI Agent ecosystem, embodied hardware serves as the ultimate physical vehicle for digital intelligence. While legacy AI Agents remain confined to digital screens, the mass production of affordable robotic platforms will bridge the gap between "digital brains" (LLMs) and physical interaction (VLA models). This scaling-up of hardware will inevitably accelerate the deployment of multimodal models in real-world environments, pushing the AI Agent paradigm from basic automation to actual physical agency.
