中国人形机器人龙头企业宇树科技于8月10日启动首次公开发行申购。[2] 本次发行价格为150.80元/股，对应上市市值约609.93亿元，[2][3] 预计中签率仅为万分之二至万分之三，[1][2] 远低于此前上市的中国DRAM大厂长鑫科技的0.47%。[1] 中一签（500股）需缴款7.54万元，缴款截止日为8月12日。[2]
本次发行募资约61亿元，[2] 主要投向智能机器人模型研发、机器人本体研发、新型产品开发及制造基地建设。[2] 根据2026年来A股新股平均涨幅276.04%测算，若中一签账面按此幅度增长，盈利有望突破20万元。[2] 宇树科技2023年至2025年营业收入分别为1.59亿元、3.93亿元、16.99亿元，[2][3] 对应净利润分别为-1,114.51万元、9,547.47万元、2.78亿元。[2][3] 2026年第一季度营业收入约4.23亿元，同比增长68.49%。[3]
值得注意的是，无人机企业大疆曾在2018年以1,012.86万元获得宇树科技约17%的股份，成为其最大外部股东，当时对应宇树科技估值约6,000万元。[3] 但大疆在2019年选择减资退出，[3] 因此错失了宇树科技后续数十亿元的市值增长。[3]
Unitree Robotics, a leading manufacturer of humanoid robots in China, has initiated its initial public offering (IPO) subscription on August 10, 2024.[2] The subscription odds are exceptionally competitive, with a winning rate of only 0.02% to 0.03%, significantly lower than Changxin Technology, a major Chinese DRAM manufacturer that went public earlier with a winning rate of 0.47%.[1]
The IPO is priced at 150.80 yuan per share, with a total fundraising target of approximately 6.1 billion yuan.[2] A single lot comprising 500 shares requires an investment of 75,400 yuan.[2] The offering values the company at approximately 60.993 billion yuan at the time of listing, corresponding to a post-issuance price-to-earnings ratio of 219 times based on 2025 financial results.[2][3] Investors must complete payment by August 12.[2]
Unitree Robotics has demonstrated strong recent growth in its financial performance.[3] The company's revenues surged from 159 million yuan in 2023 to 393 million yuan in 2024, and further accelerated to 1.699 billion yuan in 2025.[2][3] Net profit moved from a loss of 111.451 million yuan in 2023 to 95.4747 million yuan in 2024 and 278 million yuan in 2025.[2][3] For the first quarter of 2026, revenue reached approximately 423 million yuan, representing year-over-year growth of 68.49%, with first-half 2026 revenue projected between 1.052 billion and 1.128 billion yuan.[3]
The IPO proceeds will be directed toward research and development of intelligent robot models (2.022 billion yuan), robot platform development, new product innovation, and manufacturing facility construction.[2]
