TMTPOST — Unitree Technology shares began trading on the Shanghai Stock Exchange STAR Market on Wednesday under the ticker 688836. The company issued 40.4464 million new shares at 150.80 yuan each, representing 10 percent of post-offering equity and implying a market capitalization of about 61 billion yuan. Online investors received 9.707 million shares; the issue price corresponds to a 219.23 times price-to-earnings ratio based on 2025 earnings. Proceeds will fund research and development, capacity expansion and market promotion. After the offering, restricted shares account for 92.56 percent of the total and freely tradable shares 7.44 percent. In the first half of 2026, Unitree reported revenue of 1.152 billion yuan, up 48.54 percent year on year, and net profit of 274 million yuan, reversing a loss of 32 million yuan in the same period a year earlier. The Hangzhou-based firm develops and sells high-performance humanoid and quadruped robots, components and related products.