❯ Unitree Technology to List on STAR Market on August 19, Issue Price 150.80 Yuan per Share

DATE SETUnitree Technology announced that its shares will list on the STAR Market of the Shanghai Stock Exchange on August 19, 2026, at an issue price of 150.80 yuan per share, issuing 40,446,434 shares.

PRICING & FORECASTThe issue price corresponds to a diluted static price-to-sales ratio of 35.89 times for 2025. The company expects first-half 2026 revenue of 1.052 billion to 1.128 billion yuan, up 35.62% to 45.41% year-on-year. The online allotment rate was only 0.0181%, making it one of the hardest new listings to get an allocation in STAR Market history.

PRICING ANCHORThe humanoid robotics sector had long lacked a public-market valuation benchmark; now that Unitree is listed, it has one. Private-market peers will have to renegotiate valuations against this price-to-sales ratio starting tomorrow—a P/S ratio of 30-plus times is both premium room and pressure to deliver earnings.

▪ SIGNALThe 0.0181% allotment rate isn’t about company quality—it’s that no one is willing to let go before the market opens.