China’s Unitree Robotics is planning an initial public offering (IPO) that could value the company at up to 50 billion yuan ($7 billion), according to a report on CNBC. This move highlights the intense global competition in the humanoid robot sector.
Hangzhou-based Unitree has become one of the most prominent in China’s humanoid robotics space. Its planned IPO would make it one of the first companies specializing in this technology to go public, signaling strong investor confidence.
Unitree’s growth is part of a broader, state-backed push in China to lead in advanced technologies like robotics and AI. The government has placed humanoids at the “centre of their national strategy”, supporting the industry through initiatives like a massive trillion-yuan fund for tech startups.
China is actively creating platforms to showcase and test its robotic advances. The country recently hosted the first World Humanoid Robot Games, where over 500 robots from 16 countries competed in sports and practical tasks. Unitree’s robot notably outperformed rivals in a 1,500-meter race at this event.
Unitree’s strategy includes offering its basic humanoid models at a fraction of the price of leading American competitors like Boston Dynamics, making the technology more accessible. However, analysts note that Chinese companies still rely on foreign-made components for top-tier versions.
This focus on humanoids complements China’s existing dominance in industrial robotics, where it now installs more robots than the rest of the world combined.
Why the government is interested
The Chinese government’s keen interest in humanoid robotics is driven by profound economic and strategic necessities, viewing it as a pivotal future industry rather than a passing trend.
This focus was solidified in a 2024 guideline from the Ministry of Industry and Information Technology (MIIT), which outlined an ambition for China to become a “global centre of excellence” for robotics by 2029.
The primary driver is the urgent need to tackle major economic challenges. Humanoid robots are seen as a strategic solution to offset the impacts of an aging population and a shrinking workforce, helping to sustain economic productivity.
Furthermore, the government sees humanoid robotics as a disruptive technology that can stimulate new consumer demand, create fresh industries and jobs, and fuel broader economic growth.
Strategically, humanoids represent a convergence of China’s strengths in various fields. The technology combines advancements in AI, semiconductors, batteries, and advanced materials, allowing China to leverage its established industrial prowess, much as it did with electric vehicles and solar energy.
The government also sees a key advantage in the potential for widespread adoption within its own vast manufacturing sector, using real-world applications to collect data and rapidly improve robotic systems, thereby creating a self-reinforcing cycle of innovation.
