humanoidrobot

Unitree Robotics shares opened 629% higher in their Shanghai trading debut after raising 6.1 billion yuan ($904 million), making it the first publicly traded humanoid robot maker in mainland China, Bloomberg reported. Officially known as Yushu Technology, the company saw its shares jump to 1,100 yuan from the IPO price of 150.8 yuan before paring gains; the opening price implied a market value of 445 billion yuan, on par with Apple supplier Luxshare Precision. The listing taps growing investor appetite for physical AI as Beijing steps up support for strategic technologies. Bloomberg Intelligence analyst Ian Ma said the debut surge signals strong appetite for China's embodied-AI sector and could offer a favorable valuation read-across for UBTech and other upcoming robotics IPOs. Retail bids even exceeded the 7.07 trillion yuan drawn by memory-chip giant CXMT last month.
Unitree shipped more than 5,500 humanoid robots last year, ranking first globally, with 2025 revenue surging to 1.7 billion yuan from 393 million yuan and a gross margin above 60%, according to Bloomberg. Founded by Wang Xingxing, it plans to use about 4.2 billion yuan of proceeds for embodied-AI model development, research and manufacturing expansion. JPMorgan analysts led by Tim Huang said a mass-production inflection point appears close, forecasting global humanoid shipments rising to 1.75 million units by 2030 from 18,000 in 2025, with China more than half of demand. Still, the IPO valued Unitree at 35.89 times sales versus about 20 for Hong Kong-listed peers, and Union Bancaire Privée's Vey-Sern Ling said there is no fundamental basis for the surge, calling it retail-driven with sky-high valuations. About 20% of the offering went to strategic investors including DeepSeek, which took a 2.31% stake with a three-year lockup, and Tencent-linked and state-owned enterprise vehicles.