Unitree Robotics, formally Yushu Technology, priced its offering on Shanghai’s STAR Market last Thursday at 150.80 yuan a share. The Hangzhou company is selling 40.4 million shares, about 10% of its enlarged share capital, raising roughly 6.1 billion yuan, or $904 million. That values it near 61 billion yuan, about $9 billion, and makes it the mainland’s first publicly traded humanoid robot maker.
DeepSeek is among the strategic investors, which is a tidy illustration of how tightly China’s AI and robotics sectors are now braided together.
The backdrop explains the appetite. Chinese manufacturers accounted for more than 97% of global humanoid shipments in the first half of 2026. The whole market moved roughly 19,100 units in that period, up from about 5,100 a year earlier, so it more than tripled while remaining small in absolute terms.
The open question is access. Unitree’s current humanoids and quadrupeds hold US approvals, but the company has acknowledged that future models could be barred from sale there. For a firm whose valuation assumes global reach, that is the risk sitting underneath the listing.
