Humanoid Robot Maker Unitree Soars Over 600% in Shanghai IPO

Unitree, a Chinese manufacturer of humanoid robots, experienced a dramatic market debut on Shanghai's tech-focused Star Market, with its shares opening 629% above the initial offering price. Although the price later settled, it remained around 500% higher by mid-morning, valuing the company at approximately 57 billion euros. This listing marks a significant milestone as Unitree is the first humanoid robot producer to be publicly traded on mainland China's stock exchanges.

The company successfully raised about 780 million euros through the issuance of 40.45 million new shares. This substantial valuation significantly outpaces its current financial performance, even though its 2025 revenue more than quadrupled to roughly 218 million euros, with a net profit of about 35 million euros. Founded in Hangzhou in 2016, Unitree produces both quadrupedal robot dogs and human-like robots capable of complex movements.

Unitree claims to be the world's largest supplier of humanoid robots by revenue, with major investors including Meituan, Tencent, and Alibaba. However, the company faces international hurdles. In late July, the United States banned the import of robots from China, citing national security risks such as data theft and cyberattacks, and aiming to bolster domestic AI infrastructure and technology production within the U.S.

While Unitree's robots have demonstrated impressive capabilities, including running, dancing, and martial arts movements, and the company reported delivering over 5,500 humanoid robots in 2025, widespread commercial application remains limited. The company's significant market valuation, coupled with the US import ban and ongoing challenges in broader deployment, presents a complex picture for the burgeoning humanoid robotics sector.