Unitree, the world’s largest humanoid robot manufacturer, debuted on China’s stock market with shares surging more than 500% after an initial public offering. The company, officially named Yushu Technology Co, listed at 150.8 yuan per share and peaked at 1,100 yuan before trimming gains to around 500%.
The surge reflects strong investor appetite for robotics amid intensifying competition in artificial intelligence development. Unitree, founded in 2016, shipped over 5,500 humanoid robots last year, capitalizing on viral demonstrations of its machines performing martial arts, running at high speeds, and serving as backup dancers for pop stars.
Market analysts project rapid expansion in the humanoid robot sector, forecasting sales to grow from approximately $2 billion in 2025 to $300 billion by 2035. Unitree’s IPO drew exceptional demand from Chinese retail investors, with the retail tranche oversubscribed by thousands of times.
Unitree is among the few publicly traded humanoid robot companies globally. Its closest competitor, AgiBot, remains private, while UBTech is listed in Hong Kong. At least six other Chinese humanoid robot firms, including Deep Robotics and Leju Robotics, are preparing for public listings.
Company founder and CEO Wang Xingxing, who retains a 20% stake, saw his net worth exceed $12 billion on paper following the stock surge. The debut coincided with the World Robot Conference in Beijing, where hundreds of companies showcased new products and technical advancements.
Regulatory scrutiny has intensified around Chinese robotics firms. Last month, the U.S. Federal Communications Commission banned imports of future foreign-made humanoid and quadruped robots on national security grounds. Earlier this summer, the Pentagon added Unitree to a list of Chinese military companies, describing it as a contributor to China’s defense industrial base. Unitree has stated its robots are intended for civilian use and are backed by major Chinese technology investors, including Tencent and Alibaba.
