Explainer: What is Unitree and why are China’s humanoid robot makers racing to list?

• China remains the clear leader in the humanoid‑robot market, accounting for more than 97 % of global shipments in the first half of 2026, a share driven by a fully integrated supply chain, new tariff codes for intelligent biomimetic robots and even export‑insurance coverage for projects such as AGIBOT’s embodied‑robot exports.
• Unitree Robotics, the former global leader with 5,500 units shipped in 2025, launched an IPO on Shanghai’s STAR Market in August at 150.8 yuan per share, targeting a valuation of about 61 billion yuan and positioning itself as the first A‑share‑listed humanoid‑robot maker; analysts at Goldman Sachs now forecast worldwide shipments of 76 000 units in 2027 and 502 000 by 2032.
• The United States has moved in the opposite direction, with the FCC in July restricting the import and sale of new foreign‑made humanoid and quadruped robots on national‑security grounds, a measure that could limit Chinese manufacturers’ access to the U.S. market.
• Outside China, commercial pilots are emerging: Tau Robotics in San Francisco is offering a $30‑per‑hour home‑cleaning service using $50 000 humanoids, while analysts note the market could swell from its current $2‑3 billion valuation to $200 billion by 2035 if costs fall and public acceptance rises.
• Honda showcased its new “Avatar” humanoid at the Humanoids Summit 2026, presenting a tele‑operated robot with a dexterous multi‑fingered hand that revives the legacy of ASIMO for remote work in hazardous or inaccessible locations.

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