Unitree shares jump 629% in opening minutes of Shanghai debut
English translation from Unibot. Source published 2026-08-20.
Shares in Unitree, one of China's largest humanoid robot manufacturers, jumped 629% in the opening minutes of its Shanghai debut. It was another surge of investor optimism around China's technological advances.
A record stock-market debut
Entrepreneur Wang Xingxing founded the company in 2016 in Hangzhou, an eastern Chinese technology hub. Unitree raised around 6.1 billion yuan ($904 million) through its listing on the Shanghai Stock Exchange's Nasdaq-style STAR Market.
The shares were offered at 150.80 yuan ($22.36) each. By the close, they had risen 460% to 845 yuan ($125.31).
The race for robotics leadership
Advanced robotics, often described as embodied artificial intelligence, is a key sector in the intense technology competition between China and the United States. China leads the US in humanoid robot manufacturing capacity and its ability to scale production.
Of approximately 15,000 humanoid robots shipped worldwide last year, Unitree and AGIBOT, another major Chinese manufacturer, each delivered more than 5,000, according to research and consultancy firm Omdia. This far exceeds shipments by US competitors.
Omdia estimates that Chinese humanoid robot makers' combined global shipments reached about 18,500 units in the first half of 2026.
Analyst skepticism
Analysts nevertheless say many of these humanoids are still used mainly for demonstrations, performances and research rather than practical tasks. Unitree robots, for example, impressed audiences at the annual Chinese New Year gala with backflips and martial arts moves.
"The real test will be whether companies, Chinese or American, can deliver reliable performance and attractive returns on investment in large industrial and commercial deployments," Morningstar analyst Kanyuxiao Li said in a comment.
A benchmark for the sector
Unitree said IPO proceeds would fund advanced robotics research and development and expand its manufacturing base. It is the first publicly traded humanoid robot manufacturer in mainland China.
Analysts believe the IPO could establish a valuation benchmark for other robotics companies. It "gives mainland Chinese investors direct access to one of the sector's leading companies," said Morningstar's Li.
Unitree's debut coincided with the World Robot Conference in Beijing, which brought together more than 300 exhibitors. Chinese authorities have made robotics a development priority.
Financial performance and risks
Unitree reported revenue of around 1.7 billion yuan (approximately $250 million) for 2025. Humanoid robots and quadruped machines, often called robot dogs, generated most of its revenue. More than 40% came from overseas.
The United States accounted for around 13% of Unitree's revenue last year, the company said. That was before the US Federal Communications Commission banned imports of new foreign humanoid and quadruped robots in July, citing national security threats.
Unitree warned that the US ban, which it says applies to new models, could affect future US sales. Existing advanced robot models can still be sold, but the company faces the risk of wider restrictions.
Omdia's Liang Jie Su believes Chinese robot manufacturers will probably seek growth opportunities in major markets outside the United States, such as Europe.