China's Unitree to Begin Trading in Shanghai Following Record IPO

Unitree, the world's largest humanoid robot maker by sales, will begin trading in Shanghai on Wednesday. The company raised 6.1 billion yuan, which is approximately 905 million dollars, in an initial public offering last week. According to one report, the IPO was more than 8,000 times oversubscribed, marking a record for the city's tech focused STAR market.

Ahead of its debut, the Hangzhou based company unveiled a new humanoid robot called Superman. The company states that this robot can run at a speed of 12.66 meters per second and jump as high as two meters. Unitree's product line also includes quadruped robot dogs, which accounted for about 42 percent of its revenue last year. The company reported a net profit of 278 million yuan, or 41 million dollars, last year, with revenue reaching nearly 1.7 billion yuan in 2025.

Unitree is the first humanoid robot maker to list in mainland China. The company is backed by several major firms, including Tencent, Alibaba, Meituan, and DeepSeek. Proceeds from the IPO are intended for factory expansion and the research and development of robot hardware and embodied AI models.

While the company has seen significant growth, analysts note that bipedal robots are still years away from full scale deployment. Filings show that industrial deployments accounted for less than 10 percent of sales in the first three quarters of 2025, with the majority of sales going to research and educational institutions.