Unitree Robotics shares fell more than 10% intraday, erasing about $28 billion in market value from its IPO-day peak. The company opened with a market capitalization of RMB 444.9 billion ($62 billion) after its STAR Market debut.
Instead of launching a new robot, Unitree introduced a 7-axis bionic robotic arm priced from RMB 9,900 ($1,380), targeting sorting, assembly and research applications.
Founder Wang Xingxing continues to lower expectations, saying the “ChatGPT moment” for embodied AI may still be five years away. The challenge is no longer building robots, but making them truly useful.