Unitree Robotics prepares for Shanghai IPO amid valuation gap

Unitree Robotics humanoid robots Shanghai STAR Market IPO Hyperliquid

Unitree Robotics, a Chinese humanoid robot manufacturer, is preparing for its initial public offering on the Shanghai STAR Market. The company is pricing its shares at 150.80 yuan, which implies a valuation of approximately 60.99 billion yuan (USD 9 billion). Unitree is noted as the first humanoid robot manufacturer to list on the mainland Chinese market.

A significant valuation gap has emerged between the official IPO pricing and synthetic markets. On the Hyperliquid platform, perpetual traders are pricing the company at approximately $38 billion, more than four times the IPO-implied valuation. Analysts from Allium warn that this discrepancy creates a leverage overhang and potential liquidation risks for traders if the market price converges toward the official listing price.

Unitree’s business model includes hardware sales, software licensing, and cloud-based services. The company maintains a workforce of approximately 516 full-time employees and has demonstrated rapid growth in the robotics sector, specifically with its products in the robodog and humanoid categories.

Entities

Allium · Hangzhou · Hyperliquid · STAR Market · Shanghai · Shanghai STAR Market · Shanghai Stock Exchange · Tencent · Unitree · Unitree Robotics

Claims

What the coverage asserts, and how well corroborated each claim is across sources.

[● 5 SOURCES] The company's valuation is approximately 60.99 billion yuan (USD 9 billion). internationalfinance.com · koinbulteni.com · bitcoinethereumnews.com · blockchainreporter.net · jefftowson.com
[○ 1 SOURCE] The company's revenue rose to 1.70 billion yuan in 2025 from 392.77 million yuan in 2024. internationalfinance.com
[● 3 SOURCES] The IPO was more than 8,000 times oversubscribed by retail investors. internationalfinance.com · kelo.com · kfgo.com
[○ 1 SOURCE] The company is seeking approximately 6.1 billion yuan (USD 904 million) in its IPO. internationalfinance.com
[● 2 SOURCES] Scalpers have reportedly offered to buy shares at 410 yuan, a 170% premium to the offering price. kelo.com · kfgo.com
[● 4 SOURCES] Unitree is the first humanoid robot manufacturer to list on the mainland Chinese market. internationalfinance.com · kelo.com · kfgo.com · koinbulteni.com
[● 2 SOURCES] Unitree is pricing its Shanghai initial public offering at 150.80 yuan per share. internationalfinance.com · koinbulteni.com
[○ 1 SOURCE] The company has approximately 516 full-time employees. jefftowson.com
[● 3 SOURCES] Hyperliquid traders are pricing the robot maker near $38 billion, more than four times the $9 billion implied by its IPO. koinbulteni.com · bitcoinethereumnews.com · blockchainreporter.net