The world’s biggest humanoid robot maker Unitree Robotics made its stock market debut in Shanghai on Wednesday, with its shares ending their first day of trading up by more than 460%.
The Chinese firm’s shares, which were offered to investors for 150.80 yuan (£16.50; $22.36) each, closed at 845 yuan.
The highly anticipated listing on the technology-focused Star Market – which is widely known as China’s Nasdaq – marks a milestone for Beijing’s ambitious plans for the country’s robotics industry.
It comes as the US and China are battling to dominate the global market for robots and artificial intelligence (AI) models that power them.
While Unitree is not the first Chinese humanoid robot maker to list on the stock market, its debut marks the first in mainland China.
Robots like automated industrial equipment and smart vacuum cleaners are already widely used in factories, warehouses and homes.
Now, the humanoid robotics industry is attracting huge amounts of investment as major companies – including Tesla, BYD and Amazon – are developing two-legged machines capable of performing tasks usually carried out by people.
What is Unitree?
Unitree, officially known as Yushu Technology Co Ltd, was founded in 2016 and now plays a key role in Beijing’s ambitions to develop advanced technology.
It has become a robotics industry leader, selling devices from sensors and automated arms to four-legged and human-like machines.
The firm shipped more than 5,500 humanoid robots last year as demand for the technology grows.
Unitree is one of the few companies in the sector to make money, delivering a net profit of 278 million yuan in 2025.
It is a fierce rival to developers in the US as it produces robots with similar features but at lower prices.
The company is based in Hangzhou, in eastern China. The region is home to a so-called golden cluster zone of robotics firms, which have benefited from huge government investments.
That support helped drive a more than threefold increase in the number of Chinese robotics firms between 2020 and 2024, according to state-run China Daily.
Who will win the race to develop a humanoid robot?
Future Publishing via Getty Images People snap pictures of Tesla’s Optimus humanoid prototype at an exhibition in China.Future Publishing via Getty Images
Elon Musk’s Tesla is developing a humanoid robot called Optimus
Robots are also seen as a potential solution to issues posed by China’s ageing population, which is expected to lead to a shortage of workers in the country, according to Fei Qin, an associate professor at the University of Bath.
Beijing considers the robotics sector a “strategic priority” in its pursuit of leadership in advanced technology, she said.
“Robots are where AI leaves the screen and enters the economy” in factories, hospitals and, potentially, the home, Qin added.
US robots tend to have more user-friendly software but it is difficult to ignore the lower prices offered by Chinese manufacturers, said Harold Soh, a researcher from the National University of Singapore.
Unitree’s robot dogs start at $2,700, a fraction of the roughly $70,000 price tag for Boston Dynamics’ four-legged device, Spot.
“They’re not exactly comparable because some of Unitree’s dogs are much smaller,” Soh said. “But the price is a big difference.”
Unitree has been selling humanoid robots since 2023, with its $13,500 child-sized G1 model hitting the market the following year.
Meanwhile, major US rivals – including Elon Musk’s Tesla – have yet to start delivering rival products.
VCG via Getty Images A Unitree robot dog waves at the crowd at a tech convention in China.VCG via Getty Images
Unitree’s line of robot dogs competes with US rivals
Unitree robots have been at the centre of a huge marketing push ahead of the firm’s IPO.
This week, its machines are competing in the 2026 World Humanoid Robot Games in Beijing. The event features hundreds of teams competing in events such as running and football as well as less sporty challenges like box opening and sorting library books.
In February, Unitree’s robots caught the eye of the public and researchers when its G1 robots put on a display of martial arts moves during China’s Spring Festival Gala.
The live broadcast showed the robots performing a range of moves “in a way we’d never seen before,” said robotics researcher David Hsu.
“It was an indication of a rise of an industry,” Hsu added.
A bellwether for robotics firms?
Some experts expect Unitree’s market debut to be a gauge of investor appetite for the fast-growing humanoid robotics sector.-bbc