Chinese humanoid robot maker Unitree soars 629% in IPO debut
What's the story
Unitree Robotics, a leading player in the humanoid robot industry, has witnessed a staggering 629% surge in its share price on debut. The company, officially known as Yushu Technology Co., raised 6.1 billion yuan ($904 million) in its initial public offering (IPO). This makes it the first publicly traded humanoid robot manufacturer in mainland China.
Share performance
Massive jump in share price
After its IPO, Unitree's shares skyrocketed from the offering price of 150.8 yuan to 1,100 yuan. The company sold a total of 40.4 million shares during this process.
This massive jump in share price highlights the growing investor interest in physical AI companies as attention shifts from foundation models to real-world applications of artificial intelligence (AI).
Market reaction
Retail order book surpasses previous record
Unitree's retail order book surpassed the 7.07 trillion yuan bids generated by memory-chip giant CXMT Corp. in its blockbuster offering last month.
The massive oversubscription can be attributed to regulators' cautious approach toward valuations at which companies sell new shares, with authorities discouraging richly priced IPOs to protect individual investors from losses.
However, this has also resulted in smaller cash infusions than investors are willing to commit during bullish markets.
Industry forecast
Analysts predict humanoid robot mass-production inflection point nearing
JPMorgan Chase & Co. analysts Tim Huang and others have predicted that the mass-production inflection point for humanoid robots is close.
They expect global shipments of these robots to rise from 60,000 this year to 1.75 million units by 2030, with China accounting for over half of the global demand.
This expected growth bodes well for companies like Unitree, which shipped over 5,500 humanoid robots last year alone.
Financial growth
Unitree's revenue and net profit soar
Unitree's revenue surged from 1.7 billion yuan in 2025, up from 393 million yuan in 2024. Net profit hit 278 million yuan while gross margin improved to over 60%.
The company plans to use some of the IPO proceeds for embodied AI model development, humanoid robot research, new product programs, and manufacturing expansion projects.