Unitree Robotics surged 542% in its Shanghai STAR Market debut Wednesday after raising about $905 million in an IPO backed by DeepSeek.
Shanghai Debut Sparks Massive Valuation Surge
Shares of Unitree Robotics climbed dramatically during their first day of trading on the Shanghai Stock Exchange’s Nasdaq-style STAR market. According to Unitree Robotics shares rose 542% in early trading Wednesday as the Hangzhou-based company completed its public offering. The stock initially soared as high as 1,100 yuan before settling at 968.1 yuan apiece.
The public offering raised approximately 6.1 billion yuan, raising around 6.1 billion yuan ($904 million) in its listing, with shares priced at 150.80 yuan each. This massive market debut positions Unitree as the first publicly traded humanoid robotics maker in mainland China, establishing a potential valuation benchmark for competing firms in the sector.
Backing From Tech Giants and Recent Product Launches
Unitree’s public offering drew financial backing from prominent domestic technology players. Chinese artificial intelligence company DeepSeek invested roughly 140.8 million yuan in the IPO, while existing backers include tech giant Tencent.
The company built its global reputation through viral demonstrations of bipedal humanoid robots performing complex physical feats, including martial arts and backflips at China’s annual Spring Festival gala. Just days before its market listing, Unitree unveiled a new bipedal machine named Superman, which the manufacturer states can jump two meters from a standing position and reach running speeds of up to 12.66 meters per second.
Beyond bipedal humanoids, Unitree produces four-legged quadruped robots designed for industrial tasks such as hazard detection. The company reported roughly 1.7 billion yuan in revenue for 2025, derived from sales across both product lines.
Global Market Dynamics and Production Capacity
The broader advanced robotics industry, often described as embodied artificial intelligence, sits at the center of technological competition between China and the United States. Analysts point out that China currently maintains an advantage in manufacturing capacity and the ability to scale production.
According to technology research and advisory group Omdia, approximately 15,000 humanoid robots shipped globally last year. Unitree and AGIBOT each shipped more than 5,000 units, placing them far ahead of American competitors.
Financial institutions anticipate rapid market expansion. Morgan Stanley raised its projection for China’s humanoid robot shipments to 50,000 units, nearly doubling its earlier estimate of 28,000. The bank projects the domestic market will climb from $2 billion to $15 billion by 2030, with pilot projects transitioning to commercial deployments in the second half of the year.
Regulatory Pressures and International Sales Risks
Despite strong domestic performance, international hurdles remain. Overseas markets accounted for more than 40% of Unitree’s revenue in 2025, with the United States generating roughly 13% of total sales.
Those international revenue streams face regulatory headwinds. In July, the U.S. Federal Communications Commission banned imports of new foreign-made humanoid and quadruped robots on national security grounds. Unitree noted that while existing models can still be sold, the ban applies to its newer machines and poses potential risks to future U.S. sales.
Meanwhile, other sector stocks experienced mixed results on public exchanges. UBTech, another prominent Chinese humanoid robot manufacturer traded in Hong Kong, saw its shares fall 10.6% on Wednesday.
Commercial Viability and Industrial Deployment
Market analysts emphasize that despite impressive performance videos, the industry’s long-term success depends on moving beyond public demonstrations. The real competitive test will be whether companies – Chinese or American – can achieve reliable performance and attractive returns on investment in large-scale industrial and commercial deployments,
said analyst Kangyuxiao Li at investment research firm Morningstar.
Morningstar analysts also noted that the Shanghai offering gives mainland investors direct exposure to one of the sector’s leading companies. Unitree stated that proceeds from its IPO will directly fund advanced robotics research and the expansion of its manufacturing base.
