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China’s humanoid robots are moving faster. Unitree IPO puts robot boom to the test: Can it beat the US?
Unitree’s IPO tests China’s humanoid robot boom as the company races ahead in production while US firms compete for a lead in the fast-growing market.
Unitree Robotics is becoming a major name in China’s humanoid robot race. The company may not be well known outside China, but its robots have become famous online. Millions of people have watched videos of Unitree machines performing difficult movements that look almost superhuman.
Now Unitree is taking a major financial step. The company is preparing to go public on the Shanghai Stock Exchange. On Thursday, Unitree priced its shares at about $22 each and is seeking to raise around $900 million, according to The New York Times.
The deal values the company at roughly $9 billion. The biggest question is whether the technology can become a huge commercial business. Unitree's robots are improving very quickly, but it is still unclear whether millions of customers will actually buy and use humanoid robots soon.
Unitree IPO tests robot market
The IPO could become a test for the entire industry. Lian Jye Su, an analyst at technology research firm Omdia, said the Unitree stock sale will be an important signal of how financial markets view humanoid robots, which are still a young technology. Unitree is already a major seller by industry standards.
According to the company and market researchers, Unitree shipped more humanoid robots than any other manufacturer last year. But Unitree is still a relatively small company compared with major technology giants. It generated about $250 million in revenue in 2025. Its sales increased more than four times, and the company was profitable, according to The New York Times.
Humanoid robots market grows
Robots need to learn in the physical world. A humanoid robot must understand real people, objects, rooms and physical tasks. This area of technology is often called “embodied AI” or “physical AI.” The potential market is attracting big forecasts. A recent report from investment research firm CLSA estimates that the global humanoid robot market could reach $69 billion by 2030. That compares with about $2 billion this year.
Unitree faces more competition
Some long-term forecasts are much bigger. Unitree said stronger competition and weaker demand slowed its growth in the first quarter of 2026. But profits moved in the opposite direction. Unitree's profit dropped 55% during the period. The company blamed competitive pressure as well as higher spending on research and development, according to The New York Times.
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China vs US robot race
Unitree's listing is still different. It is the first humanoid robotics company to list on mainland China's stock market, making its IPO an important test for China's robot industry. China is moving faster toward mass production. Omdia estimates that Chinese manufacturers shipped about 18,500 humanoid robots in the first half of this year. U.S. companies shipped about 4,000 during the same period.
China has production lead
That gap is one of China's biggest advantages. If China can keep producing robots at a much faster rate and at lower costs, it could build a large manufacturing base before U.S. companies reach mass production. American companies such as Tesla, Figure AI, Agility Robotics and Apptronik are investing heavily in humanoid technology, while Nvidia remains a major force in the chips and AI systems needed to power physical AI, as noted by The New York Times.
If investors strongly support the $9 billion valuation, it could show that markets believe China's humanoid robot industry has a serious chance to grow into a major global business. The industry is still young, and both countries are working on different parts of the technology.
China currently has the lead in production speed, while U.S. companies remain major competitors in AI, robotics and commercialization. A robot performing kung fu or doing a back flip can prove that the machine is technically impressive. It does not prove that companies or households need one.
Its IPO will show how investors value the company's future, but its long-term success will depend on whether customers are willing to pay for robots and use them at scale. The humanoid robot market could become enormous, but it could also take years or even decades to reach mass adoption.
