A remote-controlled robot by Unitree Robotics is displayed at the
A remote-controlled robot by Unitree Robotics is displayed at the Unitree Robotics Embodied Intelligence Experience Center in the Jing'an district in Shanghai on August 19, 2026. Shares in Chinese robotics pioneer Unitree soared more than 600 percent on its debut in Shanghai on August 19, after raising more than $900 million in its initial public offering. Hector RETAMAL/Getty Images

Unitree Robotics closed at 564.90 yuan on Shanghai's STAR Market on Monday, down 3.44% on the day and off nearly 50% from the 1,100 yuan level at which China's first listed humanoid-robot maker opened on its Aug. 19 trading debut, according to Sina Finance closing data.

The stock touched an intraday low of 555.80 yuan Monday, a fresh post-listing record and within 6 yuan of the "halving line" traders have been watching. Nine trading days after it opened, Unitree has shed roughly 216.4 billion yuan (about $30 billion) in market value, falling to a 228.5 billion yuan market capitalization from the 444.9 billion yuan it commanded when trading began.

The drop has not come with a change in the underlying business. Unitree turned its first half-year profit — 274 million yuan in net income for January to June, versus a 32 million yuan loss a year earlier — as revenue rose 48.5% to 1.15 billion yuan, China Business Journal reported. But that growth has slowed sharply from the more than 330% revenue expansion Unitree posted for all of 2025, and its profit before one-off items actually fell 19.3% in the first half. Unitree also ceded the title of the world's largest humanoid-robot maker by shipments in the first half, with rival AgiBot delivering about 8,400 units, a 44% global share, against Unitree's roughly 5,900 units and 31% share, according to research firm SAG cited in the same report.

Even after the slide, Unitree trades at a static price-to-earnings ratio of about 877 times, more than 20 times the 38.56x average for China's general equipment manufacturing sector, veteran robotics investor Jin Nan told China Business Journal. "The market is voting with its feet, not because Unitree isn't good, but because the valuation got too high," Jin said.

Unitree shares have swung sharply since, rebounding to 615 yuan the following Thursday before resuming their slide, according to the South China Morning Post. Investors are now watching whether the stock holds above the 550 yuan mark that would mark an outright halving from its debut-day peak.

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