Unitree Robotics saw its stock price surge over sixfold on its first day of trading in Shanghai, following a 6.1 billion-yuan ($904 million) initial public offering. The blockbuster debut highlighted robust investor appetite for the AI and robotics sector as Unitree became mainland China’s first publicly traded humanoid robot producer.
Hangzhou-based Unitree Robotics, also known as Yushu Technology, sold 40.4 million shares in the listing, with shares rising to 1,100 yuan from an IPO price of 150.8 yuan. The strong opening reflects heightened interest in embodied artificial intelligence, an area prioritized by Beijing as part of its broader technology strategy that includes fields like semiconductors and advanced robotics.
Investor enthusiasm for the offer was evident as Unitree’s retail order book surpassed the notable 7.07 trillion yuan in bids seen during CXMT’s major listing earlier in the year. Observers attribute such intense demand in part to regulatory policies that limit inflated IPO pricing, requiring valuations to be measured against established domestic and international peers.
Analysts at JPMorgan Chase noted that the accelerating adoption and commercialization of humanoid robots, along with localized supply chains and strong policy backing, provide a supportive outlook for the sector. JPMorgan estimates global humanoid robot shipments will reach 60,000 units in 2026, climbing to 1.75 million by 2030, with China expected to represent over half of the global market.
Unitree shipped more than 5,500 humanoid robots in 2025, leading worldwide. The company also reported cumulative sales of 33,000 quadruped units and grew its revenue to 1.7 billion yuan from 393 million yuan in 2024, achieving a net profit of 278 million yuan and gross margins above 60%.
According to Unitree, more than two-thirds of IPO proceeds—around 4.2 billion yuan—are earmarked for AI model research, new product initiatives, and scaling up manufacturing. Approximately 20% of shares were allocated to strategic investors, including DeepSeek (which received a 2.31% stake), Tencent-linked entities, and investment arms of several state-owned enterprises.
Unitree’s successful listing is expected to encourage other Chinese robotics firms, such as Leju Robotics and Deep Robotics, to pursue public offerings. Meanwhile, Shanghai AgiBot Innovation Technology is reportedly preparing for a Hong Kong IPO.
