$UNITREE Robotics Shares Soar 460% in Shanghai IPO Debut as Gate.io Completes Contract Migration

Unitree Robotics, China's first listed humanoid robot maker, made a blockbuster debut on the Shanghai Stock Exchange's STAR Market on August 19, with shares closing at 845 yuan, up 460% from the IPO price of 150.8 yuan . The Hangzhou-based company, officially known as Yushu Technology Co., raised approximately 6.1 billion yuan ($904 million) in its initial public offering, giving it a market value of roughly $50 billion at the closing price . The stock surged as much as 629% to 1,100 yuan during the session before paring some gains .

The company's public listing triggered significant activity in the cryptocurrency market, as Gate.io successfully migrated the UNITREEUSDT pre-market perpetual contract to official perpetual contract trading on the same day . The official contract now supports leverage ranging from 1x to 50x for both long and short positions . To celebrate the launch, Gate.io has introduced a Unitree contract trading competition running from August 19 to August 28, featuring a total prize pool of 50,000 USDT . New users can receive 5 USDT for their first contract trade with at least 5,000 USDT in trading volume, while participants can earn up to 240 USDT through check-in rewards and volume-based prize pools .

Meanwhile, the dramatic price surge caught short sellers off guard. On-chain data shows that one address holding 10,431.76 UNITREE tokens with a 5x short position at an opening price of $81.8 is now facing unrealized losses of approximately $526,000, becoming the largest floating loss position for UNITREE on Hyperliquid . However, the position's liquidation price at $172.18 has not yet been triggered . Another whale adjusted their buy order to $110, still planning to purchase $5 million worth of UNITREE, though the token was trading at $116 at the time .

Unitree, founded in 2016, specializes in quadruped and humanoid robots with fully self-developed core components including motors, reducers, controllers, and LiDAR . The company shipped over 5,500 humanoid robots in 2025, ranking first globally with a 32.4% market share . In the first half of 2026, Unitree generated approximately 1.15 billion yuan ($170 million) in revenue, up 48.54% year-on-year . Chinese firms accounted for nearly 70% of global quadruped robot sales and about 97% of humanoid robot shipments in the first half of 2026 . The funds raised from the IPO will be directed toward intelligent robot model development, hardware research and development, and manufacturing base construction .
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