In 2026, China has emerged as the global leader in humanoid robotics with two giants—Agibot and Unitree Technology—each surpassing 10,000-unit shipment milestones, collectively accounting for the majority of over 22,000 global humanoid robot shipments. Eight additional Chinese unicorns valued at over 10 billion yuan each are competing with differentiated technical approaches, from full-stack self-development to tactile perception hardware, while China's supply chain advantage enables rapid mass production at competitive price points.
Eleven leading robotics companies including Unitree Robotics, Deep Robotics, Leju Intelligent, Dobot, Standard Robots, Youibot, and Galaxies are accelerating their IPO processes on Chinese and Hong Kong stock exchanges as the embodied intelligence sector enters a critical period of transitioning from R&D to commercial monetization. Unitree Robotics is set to become the first A-share humanoid robot stock after raising 6.099 billion yuan at a 61 billion yuan valuation, while others pursue listings through various routes including ChiNext, Shanghai Stock Exchange, and Hong Kong's 18C special technology listing rule.
Unitree Robotics, the world's largest humanoid robot manufacturer by unit shipments, is opening its Shanghai STAR Market IPO subscription on August 10 at a base valuation of $6.22 billion, offering a stark contrast to Figure AI's $39 billion private valuation achieved on near-zero revenue. The company reported $253 million in 2025 revenue with 60.27% gross margins, driven by its vertically integrated quasi-direct-drive actuator manufacturing that competitors cannot match.