Unitree becomes the first humanoid robot maker to list on a mainland Chinese exchange with a record-breaking debut
Unitree, the world's largest humanoid robot maker by sales, made its market debut on Wednesday in Shanghai's tech-focused STAR Market. The company's shares closed up 460% on their first day of trading, valuing the firm at approximately $50 billion. This milestone marks Unitree as the first humanoid robot maker to go public on a mainland Chinese exchange, serving as a benchmark for the industry. Founded in 2016, Unitree has gained global recognition for its dancing and kung-fu fighting androids. The company recently unveiled the "Superman" robot, capable of jumping over 6.5 feet high and running at speeds exceeding 28 miles per hour. While Unitree is currently profitable, most of its sales are concentrated in research and educational institutions rather than widespread industrial adoption. Despite its success, Unitree faces challenges from the U.S. government. The company was added to the U.S. Defense Department's blacklist of Chinese military-linked companies, and Washington recently banned new imports of foreign-made robots over national security concerns. These restrictions may impact future overseas sales, as the U.S. market accounted for 13% of the company's revenue last year.