China Robotics Firms Accelerate IPO Push as Unitree Gets Shanghai Nod

Chinese robotics companies are lining up initial public offerings, with humanoid maker Unitree Robotics receiving Shanghai listing approval on June 1, marking a potential start to a broad capital-raising wave. The move tests investor appetite for the country’s fast-growing “physical AI” sector. Hong Kong alone has at least 46 robotics-related IPO applicants, including Leju Robotics and Deep Robotics, according to a report. Morgan Stanley analyst Sheng Zhong said the offerings will help fund research and development of robot models, especially humanoids. Barclays analysts noted China already accounts for half of global industrial robots and 85% of humanoids in 2025. Shares of OneRobotics (Shenzhen) Co. surged as much as 18% in Hong Kong on June 2, while component maker Leader Harmonious Drive Systems gained 11% on the mainland. However, valuations remain elevated, with the sector trading at about 40 times forward earnings, compared with 14 times for the CSI 300 Index, prompting caution from state media about potential corrections if growth disappoints.