Why Are China’s Humanoid Robot Makers Racing to Go Public?

Chinese robot maker Unitree has priced its Shanghai initial public offering at 150.80 yuan per share, seeking to raise 6.1 billion yuan ($904 million) in a deal that would make it the first mainland-listed humanoid robot manufacturer. The IPO has attracted intense investor interest, with Unitree saying its retail tranche was more than 8,000 times oversubscribed. The listing values the company at 219 times its 2025 earnings and 36 times sales, highlighting the enormous expectations surrounding China’s rapidly developing humanoid robotics industry. What Is Unitree? Founded in 2016 by engineer Wang Xingxing, Hangzhou-based Unitree initially gained recognition for producing relatively…