Unitree Robotics, the world's largest maker of humanoid robots, experienced a dramatic surge in its share price on its debut on the Shanghai Stock Exchange's STAR Market on Wednesday. The company's stock opened at 1,100 yuan, a 629.44% increase from its initial public offering (IPO) price of 150.80 yuan. By midday, the shares had pared some gains, closing the session up 460.34% at 845 yuan, with the company reaching a peak market capitalization of approximately 66.1 billion yuan (about $9.8 billion).
The Hangzhou-based firm, officially known as Yushu Technology Co., raised 6.1 billion yuan (approximately $904 million) in its IPO, marking the first major public listing of a humanoid robot company in mainland China. The offering saw exceptional demand, with the retail investor tranche oversubscribed more than 8,000 times, a record for the tech-focused STAR Market. This strong market reception underscores growing investor confidence in the robotics sector, particularly in China, which has identified the technology as strategically important.
Unitree has gained global recognition through viral videos showcasing its robots performing martial arts, dancing, and running at high speeds. The company, founded in 2016 by Wang Xingxing, shipped over 5,500 humanoid robots in 2025, positioning itself as a leader in global humanoid robot deliveries. The market for humanoid robots is projected to expand significantly, with analysts forecasting sales to grow from an estimated $2 billion in 2025 to $300 billion by 2035.
Proceeds from the IPO are earmarked for core projects including research and development of intelligent robot models, prototype development, new product innovation, and the expansion of an intelligent robot manufacturing base. Strategic investors, including AI startup DeepSeek and Tencent-affiliated investment vehicles, participated in the IPO, contributing to the company's funding.
The company's financial performance has shown considerable growth. In 2025, Unitree reported revenue of 1.71 billion yuan, a substantial increase from 392.77 million yuan in 2024. The company also posted a net profit of 278.21 million yuan in 2025. Unitree's strong revenue growth and profitability are notable for a hardware-focused company in the robotics sector.
Unitree's success comes amid a broader push by China to lead in artificial intelligence and robotics. Chinese firms accounted for approximately 97% of global humanoid robot shipments in the first half of 2026, with Unitree holding around 31% of that market. This dominance is further supported by government initiatives and a robust domestic supply chain.
However, the global robotics landscape is also marked by geopolitical tensions. Earlier in August, the U.S. Federal Communications Commission banned imports of future models of foreign-made humanoid and quadruped robots, citing national security concerns. This move could impact Unitree's access to international markets, though the company's primary focus remains on its domestic growth and expansion.
The debut of Unitree on the stock market also coincides with the World Robot Conference in Beijing, highlighting the rapid advancements and commercialization efforts within China's robotics industry. Several other Chinese humanoid robot companies are reportedly preparing for their own public listings, suggesting a growing trend of investment in the sector.