Chinese robot tycoon Wang Xingxing’s wealth jumps to $16B as investors bet on world's biggest humanoid-robot maker

Chinese billionaire Wang Xingxing's wealth soared to $16 billion as investors bet on Unitree, the world's largest humanoid-robot maker, according to the South China Morning Post. Shares of the Hangzhou-based company surged by as much as 629%, valuing the company at 445 billion yuan (US$66 billion). Wang joined the billionaire ranks in early August when Forbes estimated his stake was worth $2.4 billion.

Unitree is a global leader in humanoid robots, despite ranking behind Shanghai-based AgiBot in shipments. Investors are optimistic due to Chinese government support for advanced industries, including robotics and semiconductors, according to Shen Meng, a managing director at Chanson & Co. The surge in Unitree's stock is within expectations, as Shen noted.

However, Unitree's human-shaped robots are mainly used for research, teaching, and stage performances. The company sees long-term potential in factory work and household chores as hardware costs decline and AI advances make machines smarter. Global humanoid shipments are expected to grow from 20,000 units last year to 1.2 million units by 2030, creating a $37 billion market, according to a BofA Global Research report.

Unitree's revenue grew more than 300% year-on-year to 1.7 billion yuan, while net profit increased almost 200% to 278.2 million yuan last year. Its humanoid robots cost around 166,400 yuan each. Unitree faces challenges, including geopolitical risks, as it expands. The U.S. has banned imports of new Chinese humanoids and quadruped robot dogs.

Despite this, Unitree's dancing robots have gained popularity in China, with the company's "Superman" robot capable of jumping two meters and reaching speeds of 12.66 meters per second. Unitree also unveiled the GD01, a 3-meter-tall transformable robot priced from $650,000, designed to assist in complex environments.