Unitree Stock Soars 460% on IPO Debut as 688836 Closes at RMB 845

Unitree Robotics delivered one of the most dramatic Chinese IPO debuts of 2026 on August 19. Shares of the humanoid robot maker, trading under 688836 on Shanghai’s STAR Market, closed at RMB 845, up approximately 460% from the RMB 150.80 IPO price. The stock opened even higher at RMB 1,100 before giving back part of its early gains during the session. Investors who followed the company before the listing can review the full Unitree IPO date and listing timeline.

The first-day rally pushed Unitree’s market value to around $50 billion, compared with roughly $9 billion at the IPO price. The move was particularly notable because China’s CSI 300 benchmark fell about 3% on the same day, while Unitree’s 460% closing gain was also well above the roughly 279% average first-day increase for Chinese IPOs so far this year.

What to Know

• Unitree closed its first trading day at RMB 845, up about 460% from its RMB 150.80 IPO price.
• The stock opened at RMB 1,100, implying an opening gain of roughly 629%, before retreating from that level during the session.
• Unitree’s closing market value reached around $50 billion, after the IPO originally valued the company at roughly $9 billion.
• Retail investors had subscribed for more than 8,000 times the shares available to them before the listing, highlighting exceptionally strong demand for the IPO.

How Did Unitree Stock Perform on Its First Trading Day?

Unitree entered the public market at an IPO price of RMB 150.80 per share, but the first transaction took place at RMB 1,100. That opening price was roughly 7.3 times the offer price and represented an increase of about 629%. The stock then pulled back substantially from the opening level and finished the day at RMB 845, still about 5.6 times the IPO price.

That intraday pattern is important because the headline 460% gain does not capture the full first-day price discovery. Investors initially pushed Unitree substantially above its eventual closing level, suggesting that demand at the opening was even more aggressive than the final return implies. Even after the retreat, Unitree remained one of the strongest major Chinese IPO debuts of the year.

The broader market moved in the opposite direction. China’s CSI 300 fell around 3% on August 19 as technology shares weakened, while Unitree maintained a triple-digit percentage gain. The average first-day increase among Chinese new listings in 2026 had been approximately 279%, putting Unitree’s 460% closing gain well above an already strong IPO market.

Readers who want the earlier listing context can also review when Unitree shares were scheduled to start trading.

How Much Is Unitree Worth After the IPO Debut?

The first trading day dramatically changed Unitree’s public-market valuation. At the RMB 150.80 IPO price, Unitree was valued at roughly RMB 61 billion, or around $9 billion. The company raised approximately RMB 6.1 billion through the offering, while retail demand exceeded the available allocation by more than 8,000 times.

At the RMB 845 closing price, Unitree’s market value reached approximately RMB 342 billion, equivalent to around $50 billion. In other words, public-market trading repriced the company from a little above RMB 60 billion to more than RMB 300 billion in a single session.

That makes the debut more than a strong IPO return. It also establishes a much higher public valuation benchmark for Unitree and potentially for other Chinese humanoid robotics companies preparing to access public capital markets.

For a deeper breakdown of the original offer price, fundraising and valuation, see Unitree IPO Price: How Much Could the Robotics Company Be Worth?

Why Did Unitree Stock Jump More Than 460%?

The scale of the rally was foreshadowed by demand during the IPO process. Unitree’s retail tranche was subscribed more than 8,000 times, a record level of demand for the STAR Market, while the final retail allocation rate was only around 0.018%. Nearly 10 million retail investors submitted bids for the offering.

Unitree also occupies an unusual position in China’s robotics market. The company has become one of the most visible names in humanoid and quadruped robotics, while unlike many early-stage robotics peers, it was already profitable before listing. Its 2025 revenue reached about RMB 1.7 billion, and humanoid robots became its largest product category during the year.

Those fundamentals help explain why investors were willing to pay a substantial premium, but the first-day valuation also places much more weight on future growth. At the IPO price, Unitree was already valued at around 219 times 2025 earnings and 36 times sales. The much higher closing price therefore implies that public investors are pricing in aggressive expectations for future commercialization, robot shipments and embodied AI demand.

For the underlying business numbers, including revenue, robot sales, margins, cash flow and R&D spending, see Unitree IPO Fundamentals: Is Unitree Profitable? Revenue, Robot Sales, Margins and R&D Explained.

What Does Unitree’s First-Day Rally Mean for China’s Humanoid Robot Sector?

Unitree’s debut gives China’s humanoid robotics industry something it previously lacked: a highly visible public-market valuation benchmark for one of the sector’s leading companies.

Private robotics companies are usually valued through fundraising rounds, technology milestones and long-term expectations. Unitree will now be continuously priced by public investors, allowing the market to compare its valuation with actual revenue growth, profitability, R&D spending and commercialization progress.

The RMB 845 first-day close indicates that investors are currently assigning a substantial premium to Unitree’s position in humanoid robotics and embodied AI. That valuation could also influence how the market assesses other Chinese robotics companies pursuing listings, particularly as the sector attempts to move from demonstrations and research use toward broader commercial deployment.

The commercial question remains important. Humanoid robots are increasingly being tested in manufacturing, logistics, hospitality and other real-world applications, but large-scale deployment remains limited across the industry. Unitree’s new public valuation therefore reflects not only its existing financial performance but also substantial expectations about what the humanoid robot market could become.

For a broader look at the industry-level implications, see What Unitree’s IPO Means for China’s Humanoid Robot Industry.

Unitree Stock and UNITREEUSDT Are Not the Same Product

With Unitree now publicly traded, the distinction between 688836 shares and the UNITREEUSDT contract on MEXC becomes even more important.

Unitree stock traded on the STAR Market represents actual equity in the company. Its public-market price closed at RMB 845 on August 19. By contrast, UNITREEUSDT is a derivative contract that provides market-price exposure without giving the trader ownership of Unitree shares. Holding the contract does not provide voting rights, dividends or other shareholder rights.

The contract price should therefore not automatically be described as the Unitree stock price. Even after the underlying equity begins public trading, differences can still arise because of contract specifications, currency conversion, liquidity and other market conditions.

This distinction matters especially after a first trading day as volatile as Unitree’s. A stock that opens at RMB 1,100 and closes at RMB 845 undergoes substantial intraday repricing, while leveraged derivative products can amplify both gains and losses.

Trade UNITREE on MEXC

Eligible users seeking long or short derivative exposure to Unitree can access the UNITREEUSDT perpetual contract on MEXC.

UNITREEUSDT is a derivative rather than Unitree stock. Users do not receive company ownership or shareholder rights, and the contract price may differ from the underlying 688836 share price. Leverage, position limits, contract specifications and regional availability should be checked directly on the current MEXC trading page.

Readers who want a broader introduction to the company and the available trading routes can read What Is Unitree Robotics? How to Buy and Short It on MEXC. For more information about stock-linked derivatives, MEXC also provides a guide to trading Stock Futures.

Frequently Asked Questions

How much did Unitree stock rise on its IPO debut?

Unitree closed at RMB 845 on August 19, approximately 460% above its RMB 150.80 IPO price. The stock opened at RMB 1,100 before retreating from its early level.

What is the Unitree stock code?

Unitree trades on Shanghai’s STAR Market under stock code 688836.

What was Unitree’s IPO price?

Unitree priced its IPO at RMB 150.80 per share and raised approximately RMB 6.1 billion.

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

Unitree closed its August 19 debut at RMB 845 per share, after opening at RMB 1,100.

What is Unitree worth after its IPO?

At its RMB 845 first-day closing price, Unitree’s market capitalization reached approximately RMB 342 billion, or around $50 billion, compared with roughly RMB 61 billion at the IPO price.

Why did Unitree stock rise so much?

Demand was already exceptionally strong before trading began, with the retail IPO tranche more than 8,000 times oversubscribed. Investor interest in humanoid robotics and embodied AI, combined with Unitree’s existing revenue and profitability, also contributed to demand for the shares.

Can investors trade Unitree on MEXC?

MEXC offers the UNITREEUSDT perpetual contract for eligible users. It is a derivative product rather than Unitree’s Shanghai-listed stock and does not provide shareholder ownership or rights.