#我的七夕交易分享 Unitree Robotics goes public tomorrow! Is the first humanoid robot stock worth chasing?
What does Unitree Robotics do?
Many people may have first heard of Unitree through its robot dogs. The company initially developed quadruped robots (the kind of robot dogs that can run and jump), ranking first globally in quadruped robot shipments. It later entered the humanoid robot sector, shipping more than 50k humanoid robots in 2025, also ranking first globally.
Before its IPO, Unitree also released a humanoid robot called "Superman," which can jump 2 meters high from a standing position and run at 12.66 meters per second. What does that speed mean? Usain Bolt's 100-meter world record is 9.58 seconds, with an average speed of 10.44 meters per second. In other words, this robot runs faster than Bolt.
The performance is indeed impressive
Looking just at the data, Unitree's growth is truly astonishing. Revenue rose from 159 million in 2023 to 50k in 2025, increasing tenfold in three years, with a compound annual growth rate of 226%. Net profit excluding non-recurring items went from a loss of 18 million in 2023 to a profit of 591 million in 2025. Its gross margin reached as high as 60%. The humanoid robot business grew even faster, with revenue rising from just 2.96 million in 2023 to 868 million in 2025, nearly 300-fold growth in two years. From the acceptance of its IPO application in March to its registration taking effect in July, it took just 104 days, setting a new record for review speed on the STAR Market. The online subscription allotment rate was less than 0.02%, showing that a huge number of investors sought shares.
But the valuation is indeed expensive
What does a 219x price-to-earnings ratio mean? The average P/E ratio in the general equipment industry is approximately 38x, making Unitree's nearly six times the industry average. Its 35.89x price-to-sales ratio is also far higher than its peers. Put simply, the 61 billion market capitalization is built entirely on expectations that humanoid robots will experience explosive growth in the future. If the industrialization of humanoid robots falls short of expectations over the next few years, this valuation will not hold.
There is another risk: During the initial listing period, only 30.08 million shares will be freely tradable, accounting for 7.44% of total shares. The very small float means the stock price could easily be driven into a frenzy by capital, resulting in significant volatility.
Unitree Robotics is a good company—there is no doubt about that. It has strong technological capabilities, ranks first globally in shipments, and is growing rapidly. But a good company does not necessarily mean a good price. With a 219x P/E ratio, several years of future growth have already been priced into the stock.
If you did not win an allotment, don't rush in and chase the price on the first day of trading. With a small float and high valuation, the stock could very likely be pushed into a frenzy on its first day, but the risk of chasing the price is also very high. Waiting for sentiment to cool and the valuation to return to a reasonable range before considering whether to participate may be the more prudent approach.
Humanoid robots are a major trend, but investing is not about seeing who runs fastest—it is about seeing who survives the longest. $UNITREE
What does Unitree Robotics do?
Many people may have first heard of Unitree through its robot dogs. The company initially developed quadruped robots (the kind of robot dogs that can run and jump), ranking first globally in quadruped robot shipments. It later entered the humanoid robot sector, shipping more than 50k humanoid robots in 2025, also ranking first globally.
Before its IPO, Unitree also released a humanoid robot called "Superman," which can jump 2 meters high from a standing position and run at 12.66 meters per second. What does that speed mean? Usain Bolt's 100-meter world record is 9.58 seconds, with an average speed of 10.44 meters per second. In other words, this robot runs faster than Bolt.
The performance is indeed impressive
Looking just at the data, Unitree's growth is truly astonishing. Revenue rose from 159 million in 2023 to 50k in 2025, increasing tenfold in three years, with a compound annual growth rate of 226%. Net profit excluding non-recurring items went from a loss of 18 million in 2023 to a profit of 591 million in 2025. Its gross margin reached as high as 60%. The humanoid robot business grew even faster, with revenue rising from just 2.96 million in 2023 to 868 million in 2025, nearly 300-fold growth in two years. From the acceptance of its IPO application in March to its registration taking effect in July, it took just 104 days, setting a new record for review speed on the STAR Market. The online subscription allotment rate was less than 0.02%, showing that a huge number of investors sought shares.
But the valuation is indeed expensive
What does a 219x price-to-earnings ratio mean? The average P/E ratio in the general equipment industry is approximately 38x, making Unitree's nearly six times the industry average. Its 35.89x price-to-sales ratio is also far higher than its peers. Put simply, the 61 billion market capitalization is built entirely on expectations that humanoid robots will experience explosive growth in the future. If the industrialization of humanoid robots falls short of expectations over the next few years, this valuation will not hold.
There is another risk: During the initial listing period, only 30.08 million shares will be freely tradable, accounting for 7.44% of total shares. The very small float means the stock price could easily be driven into a frenzy by capital, resulting in significant volatility.
Unitree Robotics is a good company—there is no doubt about that. It has strong technological capabilities, ranks first globally in shipments, and is growing rapidly. But a good company does not necessarily mean a good price. With a 219x P/E ratio, several years of future growth have already been priced into the stock.
If you did not win an allotment, don't rush in and chase the price on the first day of trading. With a small float and high valuation, the stock could very likely be pushed into a frenzy on its first day, but the risk of chasing the price is also very high. Waiting for sentiment to cool and the valuation to return to a reasonable range before considering whether to participate may be the more prudent approach.
Humanoid robots are a major trend, but investing is not about seeing who runs fastest—it is about seeing who survives the longest. $UNITREE
