Unitree soars in Shanghai debut, a milestone for China’s humanoid robotics sector

SHANGHAI/BEIJING - Shares in Unitree, China's leading humanoid robot maker, experienced a remarkable surge following its debut on the Shanghai market, reflecting the growing significance of the robotics sector amidst escalating tensions between China and the United States in the tech domain. Although Unitree is not the first Chinese company to list in this space, its listing is anticipated to set the precedent for its competitors gearing up for similar endeavors.

At the STAR Market, a tech-oriented exchange, the stock initially traded at 900 yuan, a stark contrast to its IPO price of 150.8 yuan. Despite a slight correction to 1,100 yuan, the price quickly rebounded, underscoring the market's enthusiasm. Unitree, currently the largest humanoid-robot manufacturer worldwide by sales, garnered global attention for its robots capable of running, dancing, and executing martial arts routines.

Notably, unlike its competitors, Unitree remains profitable, even though the majority of its products are not commercially available. This profitability, coupled with perceived state support as China intensifies its efforts to outpace the U.S. in technological advancements, has attracted global investors. The founder, Wang Xingxing, enjoyed a notable encounter with tech leaders in a summit organized by President Xi Jinping, and the startup has also benefited from alliances with prominent Chinese tech corporations, such as Tencent, Alibaba, and DeepSeek.

Analysts view Unitree as a top-tier player, attributing its premium valuation to political and economic factors rather than traditional valuation models. The IPO, which saw the sale of 10% of the shares, has already catapulted Wang's personal wealth to over US$12 billion on paper. The debut of Unitree aligns with the inauguration of the World Robot Conference in Beijing, where hundreds of Chinese companies will unveil innovative products and showcase the sector's progress, aiming to address the labor shortage prompted by China's demographic challenges.