China’s humanoid robot company Unitree Technology has been listed for 2 trading days with a market value evaporated nearly 70 billion Chinese yuan. AiMOGA Robotics, a subsidiary of Chery Automobile, is also preparing for an IPO. Analysts point out that the development of robot manufacturing companies is facing challenges and political risks.
According to an exclusive report by Reuters on August 21, AiMOGA Robotics, a humanoid robot subsidiary of Chery Automobile, has officially initiated the preparation for an IPO and is currently in discussions with multiple potential listing locations. Zhang Guibing, the International Business President of Chery and General Manager of AiMOGA Robotics, disclosed this news to Reuters during the 2026 World Robotics Conference.
Zhang Guibing stated that going public would provide funding for future technological investments, “We are currently making corresponding preparations and also in discussions with several potential listing locations.”
AiMOGA Robotics sells the four-legged robot dog Argos on the mainland e-commerce platform JD for 15,800 yuan, ranking first in the best-selling list of four-legged robots on JD; the humanoid robot Mornine M1 is priced at 285,800 yuan.
Zhang Guibing believes that the current Chinese humanoid robot industry is similar to the electric car industry a few years ago, with a large number of companies quickly emerging, leading to intense competition. Industry technological strength will be enhanced after consolidation, but cost competition will remain fierce.
With the support of relevant Communist Party policies, the number of robot enterprises in China has more than tripled from 2020 to 2024.
In the coming months, more robot companies including Leju Robotics and AgiBot will follow AiMOGA Robotics and Unitree Technology in going public.
Unitree Technology was listed on the Shanghai Stock Exchange’s STAR Market on August 19, with its stock price soaring over 460% on the first trading day. Unitree Technology sold shares to investors at 150.80 yuan per share and closed at 845 yuan.
On August 20, the stock continued to decline after opening low, closing at 687 yuan, a decrease of 18.7%, with a market value of about 277.9 billion yuan.
On August 21, Unitree Technology’s stock fell to a low of 636 yuan during trading, a decrease of about 42% from the opening price on the first day of listing; it closed at 672.41 yuan, further down by 2.12%. Compared to the closing price on the first day of listing, the company’s market value has evaporated nearly 70 billion yuan.
Some experts have expressed doubts about the application scenarios of humanoid robots. Dr. Harold Soh from the National University of Singapore told the BBC that it will take several years for robots to effectively enter home environments. Companies still need to solve issues such as battery life, privacy protection, and reliability.
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