On the first day of listing in Shanghai, the shares of the Chinese robotics company jumped by +629%. Between record sales, mind-boggling stunts and the clampdown on imports in the United States, the race for human-like robots ignites the global technological challenge
Unitree Robotics’ debut on the STAR list of the Shanghai Stock Exchange turned into one of the most spectacular financial events of the year. On the first day of trading, the shares of the Hangzhou company — founded in 2016 by the young engineer Wang Xingxing — opened at 1,100 yuan per share (1 Chinese yuan is equivalent to approx 0.13 euros). with a jump of +629% compared to the placement price of 150.80 yuan.
During the session the stock then pared part of the gains, closing around 845 yuan, equal to approximately +460% compared to the IPO price. At the value recorded at the opening, the company’s capitalization temporarily exceeded 66 billion dollars, while at the end of the day it settled at levels closer to 50 billion.
The listing was accompanied by exceptional demand from small savers: before the mechanism for reallocating shares between the different categories of investors, retail demand was more than 8,000 times higher than the tranche initially available.
Unitree thus becomes the first company specializing in humanoid robotics to be listed on the Chinese A-share market, i.e. the market for shares of Chinese companies, traded in China, in the local Chinese currency.
However, it is not the first humanoid robotics company in the world to reach the financial markets: the Chinese UBTECH Robotics, for example, has been listed in Hong Kong since 2023.
Between viral stunts and factory work
At the basis of Unitree’s growth is a precise industrial choice: to internally develop a very large part of the critical components and modules of its robots, from motors to gearboxes, from mechanical joints to control boards and movement algorithms.
This vertical integration allows the company to reduce costs, accelerate the development of new models and maintain prices much lower than many US and European competitors.
Quadrupedal robots remain one of the pillars of the business. The Go2 line, also designed for private users and developers, and the larger models intended for industrial inspections have allowed Unitree to conquer a very significant share of the global market of so-called “robot dogs”.
But what has most captured investors’ attention in recent years has been the turn towards humanoid robots.
- Unitree G1 (in the opening photo). Proposed with a starting price of around 13,500 dollars, it measures around 1.32 meters and weighs around 35 kilos. The relatively low cost has made it particularly interesting for universities, laboratories and research centers working on motor control, artificial intelligence and the interaction between robots and the environment.
- Unitree H1. Closer to the size of an adult, the H1 can reach speeds around 12 km/h. It has become one of the symbolic models of the new generation of bipedal robots thanks to the power of its actuators and the ability to maintain balance even during extremely dynamic movements.
- The “Superman” prototype. Unitree recently showed a new prototype capable, according to data released by the company, of performing vertical jumps of up to approximately 2 meters and achieving athletic performance much higher than that of previous generations. However, at least for now, these are results declared by the manufacturer and demonstrated in promotional videos, not independently certified records.
In the video published by Unitree and relaunched on YouTube, the “Superman” prototype shows a vertical jump of around two metres, an impressive demonstration of the mechanical capabilities achieved by the company.
The real test, however, is not the stunts.
It’s one thing to make a robot run, jump or stand up in controlled conditions; it’s another to make him work for hours in a factory, alongside human beings, dealing with different objects and unpredictable situations.
Manipulation, the ability to grasp, move and use objects with the precision and flexibility of a human hand, remains a major obstacle for the entire humanoid robot industry.
Folding a garment, inserting a component correctly, manipulating a fragile object or reacting to an unexpected situation are seemingly simple tasks for a person, but extremely complex for a machine.
This is why the distance between a spectacular video and a truly productive robot on the assembly line still remains significant.
The clash with the United States and doubts about security
Unitree’s financial explosion also comes at a time of growing technological tension between Beijing and Washington.
In the United States, the Federal Communications Commission (FCC) has introduced new restrictions regarding certain categories of advanced robots produced abroad, including humanoid and quadrupedal robots.
The FCC is the US federal authority that regulates communications and the licensing of many devices that use wireless technologies. The inclusion of certain equipment in the so-called Covered List may limit or prevent its authorization for the US market.
It is therefore not a general and immediate ban on the import of all Chinese robots: the measures mainly affect the authorization of new models and provide for exceptions and specific procedures.
At the basis of US concerns are above all possible risks related to cybersecurity, data collection, surveillance, remote control of devices and supply chain security.
Making the issue even more delicate is the fact that quadrupedal robots produced by Chinese companies, including Unitree, have been modified by third parties to be used in military, security or surveillance contexts.
Images of robot dogs equipped with weapons have circulated online several times, although this does not necessarily mean that these configurations were developed directly by Unitree.
And it is precisely this ambivalence that makes advanced robots an increasingly geopolitical topic: the same machine that can inspect a power plant, explore a dangerous area or transport materials can, at least in theory, also be adapted for military or surveillance uses.
The United States represented approximately 13% of Unitree’s revenues in 2025.
A possible tightening of American restrictions could therefore have a significant, but not necessarily decisive, commercial impact.
The Chinese domestic market remains enormous and Beijing considers humanoid robotics one of the strategic sectors on which to build the next generation of the manufacturing industry.
The real challenge, at this point, will be to understand whether Unitree will be able to transform the spectacularity of its robots – and the enthusiasm of investors – into a sustainable industrial business.
Because running, jumping and doing somersaults can win millions of views.
But the decisive leap will be another: moving from viral videos to factories.
