A stunning first day
Shares in Unitree Robotics soared more than 600% on their first day of trading on Shanghai's Star Market on August 27, 2026. The company is the world's biggest maker of humanoid robots.
The stock opened well above its offer price and kept climbing through the session. Trading was heavy from the opening bell, and the exchange triggered several volatility pauses. Investors rushed to buy shares in a company seen as a leader in a fast-growing industry. The listing ranks among the strongest debuts in China this year.
Why investors are excited
Unitree makes humanoid robots that can walk, run and perform manual tasks. Its machines have appeared in factories, research labs and online videos that went viral. The company is expanding production as manufacturers look for ways to automate repetitive work and fill labor gaps.
Chinese policymakers have backed robotics as a priority industry. Local governments offer subsidies, tax breaks and land for robot makers. Analysts say this support gives Chinese firms an edge in the race to build affordable humanoid machines that can work alongside people. The global market for humanoid robots is expected to grow quickly over the next decade.
Risks remain
Not everyone is convinced the valuation is safe. The stock now trades at a price far above the company's current earnings. Some investors worry that humanoid robots are still years away from wide commercial use, and that early hype could fade once the first machines reach factories.
The company also faces headwinds abroad. US restrictions on Chinese technology firms could limit Unitree's access to some markets and components. Still, the strong debut shows that many investors are willing to bet on the long-term promise of robots in everyday life and industry, even as regulators around the world study how to oversee them.