The world’s biggest humanoid robot maker Unitree Robotics made its stock market debut in Shanghai on Wednesday, with its shares ending their first day of trading up by more than 460%.
The Chinese firm’s shares, which were offered to investors for 150.80 yuan (£16.50; $22.36) each, closed at 845 yuan.
The highly anticipated listing on the technology-focused Star Market – which is widely known as China’s Nasdaq – marks a milestone for Beijing’s ambitious plans for the country’s robotics industry.
It comes as the US and China are battling to dominate the global market for robots and artificial intelligence (AI) models that power them.
While Unitree is not the first Chinese humanoid robot maker to list on the stock market, its debut marks the first in mainland China.
Robots like automated industrial equipment and smart vacuum cleaners are already widely used in factories, warehouses and homes.
Now, the humanoid robotics industry is attracting huge amounts of investment as major companies – including Tesla, BYD and Amazon – are developing two-legged machines capable of performing tasks usually carried out by people.
Robots are also seen as a potential solution to issues posed by China’s ageing population, which is expected to lead to a shortage of workers in the country, according to Fei Qin, an associate professor at the University of Bath.
Beijing considers the robotics sector a “strategic priority” in its pursuit of leadership in advanced technology, she said.
“Robots are where AI leaves the screen and enters the economy” in factories, hospitals and, potentially, the home, Qin added.
US robots tend to have more user-friendly software but it is difficult to ignore the lower prices offered by Chinese manufacturers, said Harold Soh, a researcher from the National University of Singapore.
Unitree’s robot dogs start at $2,700, a fraction of the roughly $70,000 price tag for Boston Dynamics’ four-legged device, Spot.
“They’re not exactly comparable because some of Unitree’s dogs are much smaller,” Soh said. “But the price is a big difference.”
Unitree has been selling humanoid robots since 2023, with its $13,500 child-sized G1 model hitting the market the following year.
Meanwhile, major US rivals – including Elon Musk’s Tesla – have yet to start delivering rival products.
