Unitree Robotics, officially Yushu Technology Co., staged a blockbuster debut on the Shanghai Stock Exchange, with shares jumping 629% at the open before trimming gains.
The Shenzhen-based company priced its initial public offering at 150.8 yuan per share and opened trading at 1,100 yuan, valuing the firm at 445 billion yuan, roughly in line with Apple supplier Luxshare Precision Industry. Unitree raised 6.1 billion yuan, equivalent to $780 million, in the offering.
The surge underscores investor appetite for embodied artificial intelligence, a segment Beijing is prioritizing as part of its broader push to dominate strategic technologies from semiconductors to humanoid robots. Demand from retail investors overwhelmed the order book, exceeding 7.07 trillion yuan in bids—surpassing the record set by memory chip giant CXMT during its recent IPO.
Analysts see the debut as a bellwether for China’s humanoid robotics sector, which is transitioning from research to commercial deployment. JPMorgan estimates global shipments of humanoid robots will rise from 18,000 units in 2025 to 60,000 this year and 1.75 million by 2030, with China accounting for over half of total demand. The bank’s forecast assumes accelerated commercialization, supply-chain localization and supportive policy measures.
Bloomberg Intelligence analyst Ian Ma described the listing as a strong signal of demand for embodied AI in China. He added that the proceeds from Unitree’s IPO are likely to accelerate development and commercialization efforts, while also setting a valuation reference for peers such as Ubtech and other upcoming robotics floats.
