The world's biggest humanoid robot maker goes on sale today — and for the first time anyone can look up what a robot company is worth
Unitree Robotics opened public subscription on the Shanghai STAR Market this morning, becoming the first humanoid robot maker to list on China's domestic A-share market. The price was set on 6 August at 150.80 yuan a share, which raises about 6.1 billion yuan (roughly $904 million) from 40.45 million new shares — a tenth of the company — and values the Hangzhou firm at about 61 billion yuan, or a little over $9 billion. That is 219 times earnings. The regulatory run was the fastest in the exchange's history: the filing was accepted on 20 March and cleared by the securities regulator on 2 July, 104 days later. Unitree is unusual among humanoid companies in that it makes money. It shipped more than 5,500 humanoid robots in 2025 — about a third of the entire world's output that year, which came to roughly 16,580 units — on revenue that quadrupled to 1.7 billion yuan at gross margins near 60 per cent. The company, founded by the engineer Wang Xingxing and known first for cheap robot dogs, guided to first-half 2026 revenue of about 1.1 billion yuan, growth of 36 to 45 per cent — strong, but slower than the year before.
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