Key facts
- Unitree Robotics shares have fallen over 50% from their peak since listing on August 19, 2026.
- The stock reached an intraday high of 1,100 yuan on its debut day.
- By September 10, 2026, shares were trading below 500 yuan.
- The company reported 2025 revenue of 1.70 billion yuan, a 332.64% increase.
- Unitree swung to a profit of 590.75 million yuan in 2025 from a loss in 2023.
- The company develops and produces key robot components in-house.
Shares of Unitree Robotics have seen a significant decline, falling more than 50% from their peak since their debut on the Shanghai Stock Exchange's STAR Market on August 19, 2026. The stock reached an intraday high of 1,100 yuan on its listing day, but by September 10, 2026, it had fallen below 500 yuan, marking a new low since the listing. This drop has erased over 240 billion yuan from its market capitalization from the peak.
Industry insiders suggest the stock's volatility is a market repricing after an inflated listing, rather than a reflection of the company's technological capabilities or the broader humanoid robotics industry, which is described as booming. The debate among observers centers on the appropriate valuation for a robotics firm with over 1 billion yuan in annual revenue in an industry still in its early stages.
Liu Shaoshan, director of Embodied AI at the Shenzhen Institute of Artificial Intelligence and Robotics for Society, noted that Unitree's early valuation had priced in significant future growth ahead of its current revenue and earnings, suggesting the pullback is a reset of expectations. While the market valuation during the initial trading days was considered a bubble, Liu believes the long-term market for humanoid robots is substantial, but current valuations may be pricing in too much success too soon.
Financially, Unitree reported 2025 revenue of 1.70 billion yuan, a 332.64% increase, and swung to a profit of 590.75 million yuan in 2025 from a loss in 2023. This profitability distinguishes it from many humanoid robot peers. However, the pace of revenue growth cooled in the first six months of 2026, increasing by 48.54% compared to the previous year's growth rate. The company also shows manufacturing strength, developing key components in-house, which contributes to a gross margin that rose to about 60.13% in 2025 from 44.22% in 2023.