Unitree Robotics, a Chinese humanoid robot maker, saw its shares soar more than 600% in its Shanghai stock market debut, marking a significant milestone for Beijing's robotics ambitions and intensifying competition with US firms in the sector.
Unitree Robotics completed its initial public offering on the Shanghai Star Market on Wednesday, with shares opening at 1,100 yuan, more than seven times the 150.8 yuan offer price. The listing represents the first time a mainland Chinese humanoid robot maker has entered the public markets, underscoring the rapid growth of the sector in the country.
The Hangzhou-based company, officially known as Yushu Technology Co Ltd and founded in 2016, has emerged as a major player in robotics manufacturing. Last year alone, Unitree shipped over 5,500 humanoid robots and reported a net profit of 278 million yuan. The firm competes directly with international rivals by offering comparable technology at significantly lower prices. Its robot dogs begin at $2,700 compared to approximately $70,000 for Boston Dynamics' Spot, though experts note the products differ in size and capability. Unitree's G1 humanoid model, priced at $13,500, has been commercially available since 2024, while major US competitors including Tesla have yet to begin deliveries.
Unitree's market success reflects broader Chinese government support for robotics as a strategic priority. According to state-run China Daily, the number of Chinese robotics firms tripled between 2020 and 2024, supported by substantial state investment. Robotics scholars suggest the sector addresses China's ageing population and potential worker shortage, while positioning the nation as a technology leader alongside artificial intelligence development.
The listing comes amid heightened US-China competition over robotics and AI dominance. The Trump administration implemented restrictions on Chinese-made humanoid robots in July, citing national security and manufacturing protection concerns—a move Beijing rejected as politicising trade. According to experts, Western robotics companies have lost competitive momentum, with American firms no longer dominating industry headlines as they did a decade ago. Unitree's successful IPO is expected to serve as a bellwether for investor appetite in the sector, potentially encouraging other Chinese robotics manufacturers to pursue public listings.
