Chinese mainland's humanoid robotics firm Unitree Technology made its debut on the Shanghai Stock Exchange's STAR Market on the Aug 19, with its first-day market capitalization surging to RMB 444.9 billion. Founder Wang Xingxing, leveraging his super-voting shares, saw his personal fortune break through the RMB 100-billion-mark, becoming Chinese mainland's first "post-90s" entrepreneur to join the ranks of RMB 100-billion-yuan billionaires.
Born in 1990 into an ordinary family in Fengxian District, Shanghai, Wang Xingxing earned his bachelor's degree in Mechanical Engineering from Shanghai University and pursued graduate studies in Mechanical Design. In 2016, he founded Unitree Technology in Hangzhou, starting with quadruped robots before gradually expanding into humanoid robotics. In just eight years, the company's product shipments have leapt to the top globally, earning it recognition as a benchmark enterprise in the "embodied intelligence" sector.
This IPO adopted a dual-class share structure, with Wang Xingxing controlling approximately 65.31% of the company's voting rights, ensuring he retains firm control over the company's strategic direction even after listing. Based on the first-day closing market capitalization, the value of his personal holdings has exceeded RMB 100 billion — not only setting a new wealth record for a STAR Market founder, but also surpassing several earlier "post-80s" tech tycoons to claim the youngest 100-billion-yuan billionaire in Chinese mainland.
Unitree Technology's IPO was priced at RMB 150.80 per share. The stock opened with a surge of over 629% and briefly touched above RMB 1,100 during intraday trading. The company's 2025 revenue more than tripled year-on-year, while first-half 2026 revenue reached RMB 1.152 billion.
Related News：
OMG | Beijing welcomes the 2nd World Humanoid Robot Games, bringing humanoid rivalries to Aug 22–26
Comment