#UnitreeTechSoars629%OnDebuts

Unitree made its debut with a gain of around 500%. The story of a humanoid robot company meets pricing on the first day

Unitree Technology was listed on the STAR Market today with an issue price of 150.80 yuan. The stock closed up 500% near 900 yuan and went as high as 1,100 yuan during the day. One allocated lot (500 shares) made a paper profit of about 375,000 yuan at the close and up to 475,000 yuan at the high. The related UNITREEUSDT contract on Gate spiked sharply before settling near 122 after the move. The debut has turned the " humanoid-robot stock" into the clearest short-term test of how far the market is willing to stretch valuation for the theme.

What the Company Is

Unitree is currently the only maker of humanoid robots that has reached mass production reported profitability and maintained a humanoid gross margin above 60%. It also holds an estimated 60–70% share in quadruped robots. Revenue grew from a base to 1.266 billion yuan in 2025 with a 23.8% net margin. The G1 humanoid is priced at 99,000 yuan resetting the price point relative to non-commercial research platforms. Cumulative humanoid production has reached 18,000 units. These are the numbers behind the scarcity story.

First-Day Mechanics

The public float is 7.44%. Combined with the absence of price limits on the five STAR Market sessions and a record-low 0.0181% online allocation rate the opening auction became a pure supply-demand imbalance. Strategic investors (DeepSeek, Tencent entities, National Social Security Fund and others) are locked for 12–36 months so term tradable supply is thin. That setup explains the size of the first-day move than any change in fundamentals overnight.

Valuation Tension

At the 150.80 issue price the IPO P/E was already 219x on 2025 earnings. At 900–1,100 yuan the multiple expands further. Consensus 2026–2027 estimates offer a path toward reasonable forward multiples if growth re-accelerates but Q1 net profit excluding non-recurring items fell 52.6% and H1 still showed a 19.3% decline. The market is therefore pricing a decade- industrialization success while the most recent earnings trend has slowed. That gap is the risk.

Chart Snapshot

On the Gate UNITREEUSDT 1-hour chart the contract had a vertical spike followed by an immediate pullback and consolidation near 122. RSI reached overbought levels on the move and has begun to cool; volume expanded sharply on the breakout bar. The structure is first-day discovery: a liquidity vacuum higher then rapid mean-reversion as early profit-taking appears.

Positioning Reality

Chasing a 500% opening move requires accepting that the short-term price is dominated by float mechanics than discounted cash-flow. Waiting for a pullback accepts the risk that the scarcity story keeps a higher floor than fundamentals alone would justify. Both ways make sense;. Is low-risk. The 1,100 yuan intraday. The later retreat simply define the first boundary of the discovery range.

Closing View

Unitree listed at 150.80 yuan closed up 500% near 900 yuan and traded as high as 1,100 yuan. It is the pure-play humanoid-robot complete-machine company on the A-share market with real mass-production numbers, high gross margins and dominant quadruped share. At the time the 219x IPO multiple (and far higher first-day multiple) prices in a long successful industrialization path while recent earnings have slowed. The Gate chart shows the spike-and-digest pattern. The debut has answered how scarcity premium the market will pay on day one; the next sessions will test how much of that premium survives once the initial imbalance fades.

What do you think is a price for Unitree, from here. Still chase or wait for a pullback? Share your view.

This is my reading of the listed company data, the first-day auction mechanics and the chart. It is not a recommendation.

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