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Unitree Robotics IPO sparks investor frenzy as policy support fuels capital rush, with sector’s future value tied to continued commercialization_我的网站

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A | 　　记者今天了解到，市场监管总局已经启动2026年质量强链十大标志性项目，预期成果将精准填补关键领域急需空白，进一步加强重点产业的质量支撑。

B |

Unitree Robotics' humanoid robot is displayed at the 14th China Information Technology Expo in Shenzhen, South China's Guangdong Province, on April 10, 2026. Photo: VCG
With just one day to go before Chinese humanoid robotics pioneer Unitree Robotics opens subscriptions for its initial public offering (IPO) on Shanghai's STAR Market, investor attention has extended far beyond the company itself, highlighting a broader capital-market rush into embodied intelligence as the sector moves from technological breakthroughs toward commercialization.
As of press time, discussions surrounding the IPO have pushed the topic to the top of trending lists across multiple stock trading platforms. The debate has focused on Unitree Robotics' disclosed short-term financial performance, as well as the potential opportunities for investors from China's policy push to include embodied intelligence and humanoid robots among key areas of medium- and long-term technology and industrial development.
Experts said the wave of IPOs among robotics companies, including Unitree Robotics, represents a shift that allows robot makers to engage more directly with public markets and investors. It also brings companies at different stages of development and pursuing different technological paths into a common valuation framework, promoting market comparisons and competition.
At the same time, the capital-market boom is likely to accelerate a shakeout, separating companies capable of building sustainable business models from those that struggle to turn technological advances into commercial returns.
On Thursday, Unitree Robotics released its announcement on the IPO of shares and listing on the STAR Market. According to the announcement, the offering price was set at 150.80 yuan per share, valuing the company at approximately 61 billion yuan ($9.04 billion) upon listing.
Secondary-market professionals told the Global Times that demand for Unitree Robotics' IPO subscription could be extremely high, meaning the chances of individual investors securing shares are likely to be very limited.
Robotics is currently one of the few categories that can translate AI capabilities into tangible assets with relatively comparable valuation metrics, creating a unique advantage in valuation narratives. This scarcity is one of the key factors drawing the attention of both large and small investors, Tian Feng, former dean of SenseTime's Intelligence Industry Research Institute, told the Global Times on Sunday.
Unlike large language model companies, whose capabilities are often assessed through benchmarks and demonstrations that are difficult for ordinary secondary-market investors to directly evaluate, robots offer visible and verifiable evidence through tasks such as grasping, walking and dexterous manipulation, Tian said. This tangible demonstration of "embodied" intelligence naturally creates a valuation premium in market narratives, he added.
Tian cautioned that extreme subscription figures, such as RobotHoenix's 14,855-fold oversubscription on its listing and LDRobot's 127.62 percent first-day share price surge, were driven by a combination of institutional advantages and sector scarcity rather than serving as evidence of the commercial validation of robotics products. He noted that there is no direct correlation between oversubscription multiples and the certainty of product deliveries or commercialization prospects.
Beyond Unitree Robotics, a broader financing boom in China's robotics industry has also gained significant momentum, with the Hong Kong Stock Exchange emerging as the main battleground for this latest IPO wave.
Citing industry data provider Wind, the China STAR Market reported that five robotics-related companies have gone public in Hong Kong so far in 2026. Meanwhile, 51 companies with businesses spanning industrial robots, service robots and embodied intelligence solutions are currently in the IPO pipeline in Hong Kong, accounting for 12.7 percent of all companies awaiting listing.
According to data from IT industry research platform ITjuzi.com, financing in China's embodied intelligence sector totaled 93.5 billion yuan in the first half of 2026, surpassing 90 billion yuan and marking a fivefold increase from the same period in 2025. The number of financing deals reached 322, up 137 percent year-on-year.
Tian said that while policy support and clearer commercialization pathways are boosting confidence in the sector, the latest IPO wave should also be viewed through a more cautious lens. The surge comes partly as the primary market's ability to continue funding embodied intelligence companies faces limits, prompting firms to seek new liquidity channels through public markets, rather than solely reflecting a dramatic leap in industrial maturity.
As emerging technology sectors increasingly become the focus of public attention, more objective and professional analysis is also needed to help investors assess companies' technological capabilities, commercialization prospects and long-term value, rather than simply following market enthusiasm, Chinese experts noted.
。　　将延续一批高端仪器仪表、新能源、工业机器人等重点领域，持续深化攻关；同时，紧跟产业迭代发展，拓展一批具身智能机器人、固态动力电池等新方向；瞄准产业发展热点，新增一批工业母机、无人机、先进合成生物制造等重点领域。　　今年，质量强链工程整体布局更加突出战略性、前沿性和实效性，统筹标准、计量、检验检测、认证认可等质量基础设施全链条要素，滚动部署166项攻关任务。　　在标准研制方面，重点推动智能体、脑机接口、氢能等领域国际标准研制，加快制定产业急需的关键技术国家标准，完善产业标准体系。

C | 　　在计量测试方面，聚焦关键量值溯源难题，建立一批国家计量标准和测试装置。　　在标准研制方面，重点推动智能体、脑机接口、氢能等领域国际标准研制，加快制定产业急需的关键技术国家标准，完善产业标准体系。　　在检验检测方面，研制关键检测技术装备和方法，提升产业检测能力。　　在认证认可方面，着力构建新兴产业认证制度，助力优质产品拓展市场。　　我国质量强链项目已经解决产业链质量堵点卡点问题15万个　　2024年正式启动的质量强链一期重大标志性项目已全面收官，累计实施质量攻关重点项目2060个，成功解决产业链质量堵点卡点问题15万个，有力推动重点产业提质升级。　　项目聚焦新能源汽车、高端科研仪器等大国重器焦点领域，实施了十大标志性项目，圆满完成289项攻关任务，取得了一批重大标志性成果。比如：　　产业链质量瓶颈加快突破，电动汽车超充项目以国家标准统一超充认证规则，打通充电不兼容、通信不交互堵点。

D | 　　工业机器人项目精准识别幻觉控制，360公斤级重载机器人精度实现2倍提升。　　关键仪器装置加速落地，成功研制质谱仪、电子显微镜、激光干涉仪等5个领域高端科研仪器新型计量测评装置，达到国际先进水平。　　新型显示项目研制AR近眼显示虚像测量装置，建立了从极端参数到像素级光色的完整校准体系。　　创新成果加快推广应用，动力电池项目实现对73万辆新能源汽车实时监测。　　汽车芯片项目完成了25款关键芯片的认证审查，支撑2000万片芯片规模化上车应用。　　(总台央视记者李晶晶)。

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Published on:17:11:45