Unitree Robotics surges 460% on debut: opens up 629%, market cap tops 440 billion yuan, one lot gains nearly 350,000 yuan
Summary
Unitree Robotics, the first humanoid robot stock on A-shares, debuted on the STAR Market today. With an issue price of 150.80 yuan per share, it opened at 1,100 yuan, up 629.44%, and its market cap briefly exceeded 444.9 billion yuan. It closed at 845 yuan, up 460.34%, with a market cap over 341.8 billion yuan and turnover exceeding 23 billion yuan. The company's 2025 revenue was 1.699 billion yuan, up 335% year-on-year, with non-GAAP net profit over 600 million yuan; in H1 2026, revenue was 1.152 billion yuan, up 48.54%, and net profit attributable to parent was 274 million yuan. Founder Wang Xingxing's wealth exceeded 100 billion yuan, making him the richest post-90s person.
Bubble analysis
Unitree's 460% surge on debut, with an issue P/E of 219x versus the industry average of 38x, shows extreme market enthusiasm for humanoid robots, with valuations far exceeding fundamentals—a classic sign of an AI-related bubble.
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