Overview
- Unitree completed its STAR Market listing on Wednesday and the stock opened about 629% higher, peaking near 1,100 yuan and raising roughly 6.1 billion yuan from the float.
- The company unveiled a new humanoid called “Superman” that it says can reach 12.66 m/s (about 45.6 km/h) and jump two metres in a controlled test, claims reported by the firm and shown in company videos.
- Unitree reported delivering more than 5,500 humanoid units in 2025 but most sales were to universities, labs and shows rather than factories, underscoring that broad productive use remains limited.
- The IPO drew state-linked and big tech investors such as Tencent and Deepseek and featured an online retail tranche that was more than 8,000-times oversubscribed, leaving small buyers with tiny allocations.
- Regulatory and market risks now cloud expansion: recent U.S. export and import restrictions on high-performance foreign robots could curtail Unitree's access to the American market and the listing may spur more heavily state‑backed robotics IPOs in China with volatile first‑day swings.