Chinese Humanoid Robot Maker Unitree Soars 460% in Shanghai IPO Debut

Unitree Robotics shares skyrocketed on their first trading day on Shanghai's STAR Market on August 19, becoming the first humanoid robot maker to list on a mainland Chinese exchange. Shares opened at 1,100 yuan from an IPO price of 150.80 yuan, briefly reaching a peak gain of 629% before settling at 845 yuan for a final close of 460% above the offering price, valuing the company at roughly $50 billion at market peak. The IPO raised approximately 6.1 billion yuan ($904 million), with Chinese AI firm DeepSeek among the investors, backing the company with about 140.8 million yuan. The offering was dramatically oversubscribed, with retail investors showing unprecedented demand for exposure to the robotics sector. Unitree plans to use the proceeds for advanced robot research and development, as well as expanding its manufacturing base. Unitree, founded in 2016 by CEO Wang Xingxing, has become globally recognized for its backflipping and dancing humanoid robots that have performed at major events including China's Spring Festival Gala. The company shipped over 5,000 humanoid robots globally in 2025, positioning it as one of the world's leading manufacturers alongside fellow Chinese maker AGIBOT and ahead of U.S. competitors including Boston Dynamics. For the first half of 2026, Chinese humanoid robot makers collectively shipped approximately 18,500 units globally. The listing arrives amid intensifying technology competition between China and the United States, and coincides with the World Robot Conference in Beijing, which is drawing hundreds of exhibitors. Morgan Stanley has nearly doubled its forecast for Chinese humanoid robot shipments in 2026 to 50,000 units. However, analysts caution that most humanoid robots currently deployed remain primarily used for demonstrations and performances rather than real-world commercial or industrial applications, with the true competitive test lying in large-scale deployment and return on investment.