Unitree Robotics shares surged more than 60 percent since mid-October, driving the Chinese robot maker’s market value to 271.8 billion yuan, roughly $40.8 billion. The sharp stock rally follows a major rating upgrade from JPMorgan and mounting investor enthusiasm over breakthroughs in physical artificial intelligence.
Chinese robotics equities are extending a multi-month rally, anchored by investor focus on the commercial trajectory of Unitree Robotics. The Hangzhou-based company has become a primary bellwether for the nation’s advanced manufacturing ambitions and state-backed push into embodied artificial intelligence.
Between October 15 and late October, Unitree shares climbed sharply, hitting the 20 percent daily trading limit to close at 624 yuan ($93.55) before rising another 7.69 percent to 672 yuan ($100.75) on Monday on the Shanghai Stock Exchange.
JPMorgan Upgrades Unitree to Overweight With a CNY 995 Price Target
The market momentum accelerated when JPMorgan shifted its stance on the A-share humanoid robot leader by raising its rating two notches from underweight to overweight.
The international bank lifted its December 2027 price target from CNY 300 to CNY 995, roughly $150, representing an upside of approximately 60 percent from trading levels around CNY 624.
Following briefings with company executives and reviewing the humanoid lineup in Hangzhou, the bank revised its prior assessment that viewed Yushu Technology as too hardware-centric and light on software. JPMorgan’s reassessment includes an upward revision to its 2027 adjusted earnings per share forecast, raising it 25.1 percent from CNY 2.22 to CNY 2.78.
Wang Xingxing Outlines a Short Timeline for Physical AI Breakthroughs
Speaking at the World Physical AI Conference in Hangzhou,
founder Wang Xingxing told partners on October 22 that large language models and chatbot-style artificial intelligence will soon provide machines with the operational brains they require to function autonomously.
Wang shortened his anticipated timeline for a physical AI breakthrough from up to 10 years down to a much tighter window.
If everything goes well, it will take one to two years; otherwise it will take two to three years.
Wang Xingxing, Founder, Unitree Robotics
Wang added that the industry was approaching an inflection point comparable to a ChatGPT moment
in embodied intelligence where robots can operate in unfamiliar environments using simple voice or text instructions.
The company’s fortunes in the stock market began reversing. This followed after October 15, leading to a 57.98 percent rally up to a regular trading session on Tuesday, October 27, when shares experienced a minor 4.77 percent correction down to ¥639.96 ($95.97).
Unitree Warns Investors About Humanoid Robot Commercialization Risks
Despite the surging market enthusiasm following the August 2026 initial public offering on the Shanghai STAR Market, where shares surged over 460 percent on their trading debut,
company leadership has urged investors to exercise caution regarding commercial prospects. On October 21, Unitree issued a stock exchange disclosure after its share price rose by more than 30 percent over three trading sessions.
The humanoid robot industry is still in the early stages of commercialisation, and there are uncertainties regarding technological maturity, the cultivation of downstream market demand, and the supporting capabilities of the industrial chain.
Unitree Robotics, Stock Exchange Disclosure