Unitree Robotics, considered the world's largest manufacturer of humanoid robots, debuted on the Shanghai Stock Exchange this Wednesday, the 19th, marked by an express valuation. The shares of the Chinese company concluded the first day of trading with an increase of over 460%.
Initially, the stocks were offered at 150.80 yuan (equivalent to about R$ 116), but closed the session trading at 845 yuan (R$ 653). During the initial transactions, Unitree's market capitalization reached approximately 342 billion yuan (R$ 264.7 billion), at one point reaching an increase of over 600%.
The Initial Public Offering (IPO) had been priced earlier this month, aiming to raise about US$ 900 million (R$ 4.7 billion), with an initial estimated valuation of around US$ 9 billion (R$ 47 billion). This event took place on the Star Market, a segment of the Shanghai Stock Exchange dedicated to technology companies, known as the 'Nasdaq of China'. This capital opening symbolizes an advancement in Beijing's goals to foster the national robotics industry.
Although Unitree is not the first Chinese manufacturer of humanoid robots to enter the stock market, it is a pioneer in this segment to conduct a stock market debut on the mainland China. Founded in 2016, the company, officially named Yushu Technology Co Ltd, is headquartered in Hangzhou, in eastern China. The company has consolidated a relevant position in the robotics sector and supports Beijing's plans for the development of advanced technologies.
Its product catalog ranges from sensors and automated arms to robotic dogs and humanoids. Last year, Unitree supplied more than 5,500 humanoid robots to the market, driven by the increased demand for this technology. Furthermore, Unitree is among the few profitable companies in the sector, having recorded a net profit of 278 million yuan (R$ 215 million) in 2025.
A competitive advantage of the Chinese manufacturer lies in its pricing, placing it in direct competition with developers from the United States. The company manufactures robots with characteristics similar to those of its American rivals but manages to offer them at lower costs.
Hangzhou, where Unitree is headquartered, is a hub of robotics companies that have benefited from substantial government investments. This support helped triple the number of Chinese companies in the sector between 2020 and 2024, according to China Daily. While automated industrial equipment and smart vacuum cleaners are already common in factories, warehouses, and homes, it is currently humanoid robots that are attracting a large volume of investment.
Large corporations such as Tesla, BYD, and Amazon are involved in developing bipedal machines designed to perform typically human tasks. Unitree has been marketing humanoids since 2023, and in the following year launched the G1 model, sold for US$ 13.5 thousand (R$ 70.4 thousand). In contrast, significant American competitors, including Elon Musk's Tesla, have not yet begun delivering their products.
Robotics and artificial intelligence have become a new point of friction between China and the United States. Both countries recognize the strategic importance of these areas and seek dominance in both the global robot market and the AI models used to operate them. According to Harold Soh, a researcher at the National University of Singapore and interviewed by the BBC, American manufacturers generally offer more intuitive software, but the lower prices of Chinese companies are a difficult factor to ignore.
The price comparison is illustrated by Unitree's robotic dogs, which cost starting from US$ 2.7 thousand (R$ 14 thousand), compared to the Boston Dynamics Spot, a quadruped device that costs approximately US$ 70 thousand (R$ 365 thousand). Soh emphasizes that the products are not directly comparable, given that some of Unitree's robotic dogs are smaller, but points out that the price disparity is notable.
The dispute has also escalated to the political level. In July, the administration of U.S. President Donald Trump declared that it would prohibit new humanoid and quadruped robots manufactured in China, citing concerns over national security and the defense of American industry. Beijing refuted this claim, accusing Washington of 'politicizing' commercial matters. The United States has also imposed severe restrictions on other Chinese technologies, such as electric vehicles and artificial intelligence models.
Unitree belongs to a small group of humanoid robot manufacturers with publicly traded shares. Its main rival, AgiBot, operates as a private company, while the smaller competitor, UBTech, has shares listed in Hong Kong. However, this landscape may change, as six other Chinese robotics companies, including Deep Robotics and Leju Robotics, are preparing to conduct public offerings.
On another front, China achieved an unprecedented feat in the space launch sector by recovering, for the first time on solid ground, the first stage of a rocket after an orbital flight. This success was achieved by Zhuque-3, developed by the private Chinese space company LandSpace, during a launch conducted at the Dongfeng Commercial Space Innovation Test Zone.