宇树科技股票IPO首日暴涨460%，688836收于845元

Key Takeaways

Unitree surged 460% on its STAR Market debut on August 19, closing at RMB 845, far above the IPO price of RMB 150.80, with the opening price once reaching RMB 1,100. The first-day surge pushed the company's market value to approximately USD 50 billion, reflecting the humanoid robot hype and strong demand driven by oversubscribed IPO.

Unitree delivered one of the most anticipated IPO debuts in the Chinese market in 2026 on August 19. The humanoid robot company listed on Shanghai's STAR Market under ticker 688836, closing its first day at RMB 845, up approximately 460% from its IPO price of RMB 150.80. Unitree's opening price reached RMB 1,100 before giving back some gains during the trading session. Investors who have been following the company can also review the fullUnitree IPO date and listing timeline.

The first-day surge pushed Unitree's market capitalization to approximately USD 50 billion, a significant increase from the roughly USD 9 billion valuation implied by the IPO price. This performance drew particular attention because the CSI 300 Index fell about 3% on the same day, while Unitree's 460% first-day closing gain also significantly exceeded the average first-day gain of approximately 279% for Chinese new listings in 2026.

Key Information

• Unitree closed its first trading day at RMB 845, up approximately 460% from the IPO price of RMB 150.80.
• The stock opened at RMB 1,100, up approximately 629% from the offering price, before pulling back significantly during the session.
• Unitree's market cap at the first-day close reached approximately USD 50 billion, compared to a valuation of roughly USD 9 billion at the IPO price.
• Prior to listing, retail subscription for Unitree's IPO exceeded 8,000 times, indicating extremely strong market demand.

How Did Unitree Stock Perform on Its First Day?

Unitree entered the public market at an IPO price of RMB 150.80, but the first trade was executed directly at RMB 1,100 — approximately 7.3 times the offering price, representing a gain of about 629%. The stock then pulled back significantly from its opening high, eventually closing at RMB 845, still roughly 5.6 times the IPO price.

This intraday trajectory matters because looking at the 460% closing gain alone doesn't fully capture the first-day price discovery process. The pricing investors placed at the open was far higher than the eventual closing level, indicating that early-session demand was even more aggressive than the final gain suggests. Even after the significant pullback, Unitree still delivered one of the strongest large-cap IPO debuts in the Chinese market this year.

The broader market told a completely different story on the same day. On August 19, the CSI 300 Index fell about 3% as tech stocks weakened, while Unitree still maintained triple-digit percentage gains. The average first-day gain for Chinese new listings in 2026 was approximately 279%, making Unitree's 460% closing gain highly notable even within an already hot new-issuance market.

For those interested in pre-listing trading arrangements, you can also check when Unitree shares began trading.

How Much Is Unitree Worth After Its IPO First Day?

The first trading day dramatically reshaped Unitree's valuation in the public market. Based on the IPO price of RMB 150.80, the company was valued at approximately RMB 61 billion, or about USD 9 billion. The IPO raised approximately RMB 6.1 billion, with retail subscription demand exceeding 8,000 times the available shares.

Based on the closing price of RMB 845, Unitree's market capitalization has reached approximately RMB 342 billion, or about USD 50 billion. In other words, the company was repriced by the public market from a valuation of just over RMB 60 billion at IPO to more than RMB 300 billion within a single trading day.

As such, this listing debut was not only a strong return for new-issue investors, but also established a higher public market valuation benchmark for Unitree itself, as well as other Chinese humanoid robot companies preparing to enter the public markets.

To learn more about the original offering price, fundraising amount, and valuation, check outUnitree IPO Price: How Much Is This Robotics Company Worth?.

Why Did Unitree Stock Surge More Than 460% on Its First Day?

The subscription activity during the IPO phase had already signaled market enthusiasm in advance. Unitree's retail tranche was oversubscribed by more than 8,000 times, with a final online lottery allocation rate of only approximately 0.018%. Nearly 10 million retail investors participated in the subscription.

Unitree also holds a relatively unique position in China's robotics market. The company has become one of the most recognized names in humanoid robots and quadruped robots, and unlike many robotics companies still in early stages, Unitree was already profitable before going public. In 2025, the company generated revenue of approximately RMB 1.7 billion, with humanoid robots becoming its largest product revenue category.

These fundamentals help explain why investors were willing to pay a significant premium, but the first-day valuation also suggests the market is pricing in even higher expectations for future growth. Even at the IPO price, Unitree was valued at approximately 219 times 2025 net profit and 36 times revenue. After the further surge at the first-day close, the public market is clearly betting on more aggressive commercialization, robot sales growth, and embodied AI demand.

For insights into revenue, robot sales, margins, cash flow, and R&D investment, check outUnitree IPO Fundamentals: Is Unitree Profitable? Revenue, Robot Sales, Margins, and R&D Explained.

What Does Unitree's First-Day Surge Mean for China's Humanoid Robot Industry?

Following Unitree's listing, China's humanoid robot industry now has a highly visible public market valuation benchmark for the first time. In the past, private robotics companies were primarily valued through funding rounds, technological milestones, and long-term market expectations. Now, Unitree will be repriced by the public market every day, and investors can continuously compare its valuation against revenue growth, profitability, R&D investment, and commercialization progress.

The first-day closing price of RMB 845 shows that the market is currently willing to pay a very high premium for Unitree's position in humanoid robots and embodied AI. Such a valuation could also influence other Chinese robotics companies advancing toward listings, especially as the industry gradually transitions from technology demonstrations and research applications toward broader commercial deployment.

Commercialization remains the core question. Humanoid robots are being tested in more manufacturing, logistics, service, and other real-world scenarios, but the industry still has some distance to go before large-scale deployment. Therefore, Unitree's current public market valuation reflects not only its existing financial performance but also a substantial amount of market expectation for the future size of the humanoid robot market.

To understand the broader industry-level implications, read what Unitree's IPO means for China's humanoid robot industry.

Unitree Stock and UNITREEUSDT Are Not the Same Product

With Unitree officially listed, the distinction between the 688836 stock and the UNITREEUSDT contract on MEXC has become even more important.

The Unitree stock traded on the STAR Market represents actual equity in the company, closing at RMB 845 on August 19 in the public market. In contrast, UNITREEUSDT is a derivative contract that provides price exposure, but traders do not hold Unitree shares and do not have voting rights, dividends, or other shareholder rights.

Therefore, the contract price of UNITREEUSDT cannot be directly referred to as the Unitree stock price. Even though the underlying stock has officially listed, contract specifications, currency conversion, liquidity, and other market factors may still cause the contract price to diverge from the actual 688836 stock price.

This is especially important given Unitree's dramatic first-day price action. The stock falling from an opening of RMB 1,100 to a close of RMB 845 represents very significant repricing within a single day, and leveraged derivatives could further amplify both gains and losses.

Frequently Asked Questions

How much did Unitree rise on its IPO first day?

Unitree closed at RMB 845 on August 19, up approximately 460% from the IPO price of RMB 150.80. The stock opened at RMB 1,100 before pulling back from its early-session high.

What is Unitree's stock ticker?

Unitree trades on Shanghai's STAR Market under the ticker 688836.

What was Unitree's IPO price?

Unitree's IPO price was RMB 150.80 per share, and the IPO raised approximately RMB 6.1 billion.

What was Unitree's closing price on its first trading day?

Unitree closed at RMB 845 on its first trading day on August 19, with an opening price of RMB 1,100.

What is Unitree's market capitalization after the IPO?

Based on the first-day closing price of RMB 845, Unitree's market capitalization is approximately RMB 342 billion, or about USD 50 billion, a significant increase from the roughly RMB 61 billion valuation implied by the IPO price.

Why did Unitree stock rise so much on its first day?

Demand was already extremely strong before listing, with retail IPO subscription exceeding 8,000 times. The market's high interest in humanoid robots and embodied AI, combined with Unitree's existing revenue and profitability, also jointly drove stock demand.

Can I trade Unitree on MEXC?

MEXC offers the UNITREEUSDT perpetual contract for eligible users. This product is a derivative contract and is not the Unitree stock listed in Shanghai, nor does it provide shareholder ownership or related rights.