Unitree, China’s best-known humanoid robot maker, saw its shares climb nearly sixfold on its first day of trading in Shanghai, marking a landmark moment for the country’s robotics sector, according to a recent Reuters report.
The stock ended the morning session at 883.87 yuan on the tech-focused STAR Market, up from an initial public offering price of 150.8 yuan. It had opened at a high of 1,100 yuan before trimming gains. The rise gave Unitree a market value of about $50 billion. Around 10% of the company’s shares were sold in the IPO, which raised about $900 million. Founder Wang Xingxing, who continues to hold roughly a fifth of the company, saw his paper wealth exceed $12 billion, reports Reuters.
Unitree’s debut far outpaced the average first-day gain of 279% for new listings in China this year, and it came on the same day that Chinese benchmark indexes fell 2% amid heavy selling in tech shares. The listing also coincided with the opening of the World Robot Conference in Beijing, where hundreds of mostly Chinese firms are expected to showcase new products.
The company competes with Hyundai Motor Group-owned Boston Dynamics and Tesla, and has drawn global attention for robots that run, dance, and perform martial arts. Unlike many peers, Unitree is profitable, though most of its robots are sold to universities and research institutions rather than used in commercial settings. According to Reuters, shipments of humanoid robots nearly quadrupled in the first half of the year to 19,100 units, with Unitree selling 5,900 units, trailing domestic rival Agibot’s 8,400.
Backing from Tencent, Alibaba, and DeepSeek has added to Unitree’s profile, and analysts say the listing gives it a first-mover advantage as at least half a dozen Chinese humanoid robotics firms prepare to go public.
However, Unitree faces growing restrictions in the United States. In July, the Federal Communications Commission banned imports of future models of foreign-made humanoid and quadruped robots, including Unitree’s. In June, the Pentagon added the company to a list of Chinese military companies, calling it a “contributor to the Chinese defence industrial base.” Unitree has said its robots are for civilian use.
