Unitree Robotics trades in Shanghai under the ticker 688836, and at about 716 yuan (November 9, 2026) it is up roughly 375% from its 150.80-yuan IPO price but below its 845-yuan first-day close. Unlike most humanoid robot companies, Unitree is profitable and growing fast: Q3 2026 revenue rose 70%. Profit, however, fell 17% as R&D spending more than tripled. Here is the full picture for investors.
- Ticker: 688836, Shanghai STAR Market (listed Aug 19, 2026).
- Price: ~716 yuan (Nov 9) vs 150.80 IPO and 845 first-day close.
- Q3 2026: revenue RMB 665M (+70%), net profit RMB 113M (-17%).
- Analysts: consensus Hold, average target ~584 yuan (MarketScreener).
- Access: China A-share; hard for most foreign retail investors to buy directly.
Unitree Stock Snapshot
| Item | Value |
|---|---|
| Company | Unitree Robotics (Hangzhou Yushu Technology) |
| Ticker / exchange | 688836 · Shanghai STAR Market |
| Listing date | August 19, 2026 |
| IPO price | 150.80 yuan |
| Recent close | ~716 yuan (Nov 9, 2026) |
| Approx. market value | ~290 billion yuan (~$40 billion), our estimate |
| Analyst consensus | Hold (7 analysts), avg target ~584 yuan |
Price and consensus from MarketScreener. Market value is our estimate from roughly 404 million shares implied by the IPO (40.45 million new shares for 10% of the enlarged capital); check the exchange for the exact figure.
The Unitree IPO: From 150.80 to 845 Yuan
Unitree priced its IPO at 150.80 yuan on August 6 and raised about 6.1 billion yuan ($904 million), well above the original target. On August 19 the stock opened as much as 629% higher and closed at 845 yuan, up 460%, as reported by AP. Retail demand was extreme, and the debut coincided with the World Robot Conference in Beijing. On the same day, Hong Kong-listed rival UBTech fell more than 10%.
Context: buyers at the first-day close are still down about 15% at 716 yuan, while IPO allocants are up nearly fivefold. Timing has mattered more than the business so far.
Q3 2026 Results: Revenue Up, Profit Down
Unitree's first post-IPO report on October 28 showed strong growth but weaker profit, according to TAO Media and Reuters reporting:
| Metric | Q3 2026 | Change YoY |
|---|---|---|
| Revenue | RMB 665.0M | +69.9% |
| Net profit (attributable) | RMB 112.7M | -17.4% |
| R&D spending | RMB 127.0M (19.1% of revenue) | +249.6% |
| 9-month revenue | RMB 1.82B | +55.7% |
| 9-month net profit | RMB 386.7M | +270.5%* |
*The nine-month profit jump reflects a large share-based payment expense in the prior-year period. Q3 profit missed the roughly 224-million-yuan analyst forecast cited by Reuters. Unitree ended September with RMB 7.35 billion in cash after the IPO.
Is Unitree Stock Expensive?
At roughly 290 billion yuan and an annualised Q3 revenue run-rate of about 2.7 billion yuan, the stock trades at around 100 times sales. That is far above Tesla or Nvidia and prices in many years of rapid growth. The analyst average target of about 584 yuan sits roughly 18% below the recent price, which is why consensus is Hold. Supporters argue Unitree is one of the few humanoid makers shipping in volume and already profitable; skeptics point to slowing profit and rising competition.
What Unitree Sells
- Quadruped robots (robot dogs), its original business, used in inspection, research and public safety.
- Humanoid robots such as the G1 and H-series. Market tracker Omdia estimates Unitree shipped more than 5,000 humanoids in 2025.
- Components: joint modules, dexterous hands and robotic arms sold to other builders.
2025 revenue was about 1.7 billion yuan, with over 40% from overseas. For a head-to-head on specs and price, see Tesla Optimus vs Unitree G1, 1X Neo and Digit.
Key Risks
- US import ban: in July 2026 the FCC banned imports of new foreign-made humanoid and quadruped robots. The US was about 13% of Unitree's 2025 revenue, and Unitree says the ban covers its new models.
- Valuation: around 100 times sales leaves little room for disappointment, as the Q3 profit miss showed.
- Competition: AgiBot, UBTech, Tesla Optimus and US startups are all scaling.
- Volatility and access: STAR Market stocks can move 20% a day, and foreign investors have limited, indirect access.
How to Buy Unitree Stock
- Mainland China investors: buy 688836 through any A-share brokerage account with STAR Market permissions.
- Foreign investors: ask your broker whether STAR Market shares are available to you; access usually runs through QFII channels or Stock Connect eligibility rules, which can change.
- Indirect exposure: funds that hold China A-shares or humanoid robotics ETFs. Compare the options in our humanoid robot stocks guide and humanoid robot ETFs compared.
This article is for information only and is not investment advice.
Unitree vs Tesla Optimus as an Investment
Unitree is a near-pure humanoid and robot-dog business that is already profitable. Tesla's Optimus is a much bigger bet inside a company still driven by cars and energy; see our Optimus production timeline and Optimus valuation analysis. Investors who want China exposure to the same supply chain can also look at Optimus component suppliers listed in Shanghai and Shenzhen, all mapped with tickers in Tesla Optimus stocks. Its closest listed peer is UBTech (9880.HK).
FAQ: Unitree Stock
Is Unitree a publicly traded company?
Yes. Unitree Robotics listed on the Shanghai Stock Exchange's STAR Market on August 19, 2026 under the ticker 688836. It is the first general-purpose humanoid robot maker listed on mainland China's stock market.
What is Unitree's stock price?
Unitree closed at about 716 yuan on November 9, 2026, according to MarketScreener data, compared with an IPO price of 150.80 yuan and a first-day close of 845 yuan. Check a live quote for the current price.
What was the Unitree IPO price?
Unitree priced its IPO at 150.80 yuan per share and raised about 6.1 billion yuan ($904 million). The shares opened as much as 629% higher on August 19, 2026 and closed the first day at 845 yuan, up 460%.
How can I buy Unitree stock from the US or Europe?
Unitree is a China A-share on the STAR Market. Most foreign retail investors cannot buy STAR shares directly; access is generally through qualified foreign institutional investor (QFII) channels, Stock Connect eligibility rules or funds that hold China A-shares. Ask your broker whether 688836 is available to you. Indirect exposure is also possible through humanoid robot ETFs.
Is Unitree profitable?
Yes. Unitree reported net profit attributable to shareholders of RMB 386.69 million for the first nine months of 2026, but Q3 profit fell 17.37% year over year to RMB 112.69 million as R&D spending jumped 249.58%.
The Bottom Line
Unitree stock (688836) gives direct, profitable exposure to humanoid and quadruped robots, but at around 716 yuan it trades near 100 times sales, above the average analyst target, after a 460% first-day pop. Q3 showed the trade-off: revenue up 70%, profit down 17% as R&D surged. For most foreign investors it is also hard to buy directly. We will update this page after Unitree's next results.
Sources: AP via Click2Houston (Aug 19, 2026), TAO Media (Oct 29, 2026), Reuters via MarketScreener (Oct 28, 2026; price data as of Nov 9, 2026), Omdia. Not investment advice. Last fact-check: November 10, 2026.
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