Beijing: China’s fast growing humanoid robot industry has entered a new stage as Unitree Technology prepares to become one of the most closely watched robotics companies in the country’s stock market. The Hangzhou based company is moving ahead with a major listing that could value it at about $9 billion, highlighting the growing investor interest in robots that can move, learn and carry out tasks in the real world.
Unitree has attracted international attention for its four legged robots and humanoid machines. The company was founded in 2016 by Wang Xingxing and initially became known for producing relatively affordable robotic dogs. In recent years, however, it has shifted its focus towards humanoid robots, an area that China sees as an important part of its future technology industry.
The company has developed several humanoid models, including the G1, H1 and R1. Videos of its robots walking, running, dancing and carrying out physical movements have helped Unitree become one of the best known Chinese robotics companies outside the country.
Unitree has now priced its planned Shanghai STAR Market offering at 150.8 yuan per share. The company is expected to raise about 6.1 billion yuan, equivalent to roughly $904 million. The planned valuation of about 61 billion yuan would make the listing an important test of investor confidence in the future of humanoid robots.
The timing is significant because Unitree is not the only Chinese company trying to capture this market. A number of robotics companies are racing to develop machines that can eventually work in factories, warehouses, commercial facilities and possibly homes.
China has several advantages in this competition. The country already has a huge manufacturing industry and extensive supply chains for electronics, batteries, motors and other components needed to build robots. This allows Chinese companies to develop and manufacture machines at a scale that could be difficult for smaller competitors in other countries to match.
Unitree’s financial growth also shows how quickly the industry is developing. The company’s revenue increased more than four times in 2025 to around 1.7 billion yuan. Humanoid robots accounted for about 867.8 million yuan of that revenue, making them the company’s largest source of income.
However, the business is still facing challenges. During the first quarter of 2026, Unitree’s revenue continued to grow, but its adjusted profit fell sharply. The company has been spending heavily on research, development and marketing as it tries to improve its technology and increase production.
One of the most important developments surrounding Unitree is its connection with DeepSeek, the Chinese artificial intelligence company. DeepSeek invested about 140.8 million yuan in Unitree’s public offering and acquired a stake of about 2.31 percent. The two companies are also expected to cooperate in artificial intelligence and embodied intelligence.
Embodied intelligence is becoming one of the most important areas in the robotics industry. It involves connecting artificial intelligence with physical machines so that robots can understand their surroundings, respond to instructions and carry out tasks using their bodies.
This is a much harder challenge than simply making a robot walk or perform a demonstration. A useful humanoid robot must be able to recognise objects, understand its environment, make decisions and move safely while handling unexpected situations.
Unitree is competing with several other Chinese companies, including AgiBot and UBTECH, which are also working to increase humanoid robot production. The competition is expected to become stronger as companies seek investment to build factories, improve artificial intelligence systems and reduce production costs.
There is also a wider international dimension to the competition. The United States and China are already competing in areas such as artificial intelligence, advanced manufacturing and robotics. Chinese robotics companies could face restrictions or other difficulties when trying to expand into overseas markets, particularly if humanoid robots become viewed as strategically important technology.
Despite the excitement surrounding the industry, major questions remain about whether humanoid robots can become profitable on a large scale. A robot performing an impressive demonstration is very different from a robot working safely and reliably for many hours in a factory or warehouse.
Companies still need to improve battery life, reliability, safety, movement, object handling and maintenance. The cost of the machines also needs to fall if businesses are going to use them widely.
Unitree’s listing could therefore become more than a financial milestone for one company. It could provide an early indication of how investors view the future of China’s humanoid robotics industry.
If the listing performs strongly, other robotics companies may find it easier to raise money and expand their operations. If investors become concerned about high valuations and limited profits, companies may face greater pressure to demonstrate real commercial results.
For China, the goal is much larger than producing robots that can walk and dance. The country wants to build a complete industry around artificial intelligence, advanced manufacturing and machines capable of interacting with the physical world.
Unitree is now at the centre of that ambition. Its planned stock market listing, its growing humanoid robot business and its cooperation with DeepSeek show that China’s robotics race is moving from experimental laboratories towards a more commercial stage.
The next challenge will be proving that these machines can do useful work reliably, safely and at a cost businesses can afford. How quickly companies such as Unitree can solve that problem could determine whether humanoid robots become one of the defining technologies of the coming decade.