At the 10th World Robot Conference, which has been continuously attracting attendees from various domestic and international industry stakeholders, the most popular attraction was the demonstration of humanoid (human-shaped robot) combat. In a square ring set up at the Unitree booth, two humanoids, about the height of elementary school students, donned headgear and gloves, throwing punches and delivering kicks, captivating the audience. Due to the crowd standing in multiple lines to witness the match 'in person,' those who didn't secure spots early could only watch the game on the broadcast screen.
Unitree, the developer of this humanoid, is one of the 'Hangzhou Six Dragons' (six major technology companies in Hangzhou) and is currently one of the most notable robot corporations in China. Established in 2016, it has recorded world-class levels in various technology metrics. The company was founded by Wang Xingxing (王兴兴), a 1990-born Chief Executive Officer (CEO) who graduated from Zhejiang University of Science and Technology with a degree in electromechanical engineering and researched and developed quadruped robots during his master's program at Shanghai University.
◇ Reproducing robot movements exactly as seen in movies… Starting commercialization
Unitree focuses on humanoids and quadrupedal robots (robot dogs). The humanoid G1 is the flagship product, and in May, six G1 units participated in a humanoid fighting competition held in Hangzhou, which was broadcast live by the state-run China Central Television (CCTV) Science Channel. The G1 garnered attention for its agile movements without stuttering, mimicking human reflexes. The price is $16,000 (approximately 22.14 million won). Last month, a budget-friendly humanoid called R1 ($5,900, about 8.15 million won) was also unveiled.
Unitree's entry into this market, where it had not produced humanoids until 2022, is due to the rapid advancement of artificial intelligence (AI). In a media interview this month, CEO Wang noted, "I was one of the biggest opponents of humanoids in the past, but the significant development of AI technologies represented by OpenAI's ChatGPT and the growing interest in advanced technologies by figures like Elon Musk have rapidly increased external interest in humanoids, leading us to enter the market."
In addition to humanoid products, the new robot dog A2 is also receiving considerable interest. Developed for planetary exploration, this robot can withstand a maximum weight of 100 kg and is capable of walking, running, jumping, and even performing unipedal rotations. In a video released on Unitree's YouTube channel on the 6th, the A2 was seen executing a backflip while going down steep stairs and effortlessly navigating places that would be difficult for a person to walk through. The price has not yet been disclosed, but the earlier model, 'Go2,' is priced at $1,600 (approximately 2.21 million won).
On the 6th of June, Unitree showcased the robotic hand 'Dex5-1.' Dex5-1 features high joint freedom for smooth movements and is equipped with 94 touch sensors and temperature sensors to accurately measure weight, pressure, and temperature. It can hold up to 4.5 kg, and the hand can withstand a force of up to 20 kg. In a demonstration video released by Unitree, the robotic hand naturally turned pages of a book and tossed an orange with one hand. The price has not yet been disclosed.
According to the company, Unitree has successfully commercialized retail sales of robot dogs, becoming the first in the world to do so. Currently, it accounts for more than 60% of global robot dog shipments. In the humanoid sector, it holds more than 50% of the global market share. According to the STAR Market Daily, Unitree recently signed a mass production contract worth 124 million yuan (approximately 23.9 billion won) with AgiBot (智元机器人). Unitree will supply humanoids and robotic hands worth 46.05 million yuan (approximately 8.9 billion won) to a subsidiary of China Mobile (中国移动), the largest telecommunications company in China.
◇ Accelerating IPO in mainland China… Aiming to be the first domestically listed humanoid corporation
Unitree is currently pushing for a listing on the mainland stock exchange in China. If they succeed in the IPO, they will become the first domestically listed humanoid corporation. Competitor UBTECH is listed on the Hong Kong Stock Exchange instead of the mainland. Unitree registered its listing application last month and has begun the related procedures. The market expects that Unitree is likely to list on the STAR Market between the end of this year and early next year. The company's valuation is estimated to be up to 15 billion yuan (approximately 2.9 trillion won).
The Chinese government has identified robots as a strategic industry following artificial intelligence (AI) and is actively supporting it, indicating a promising outlook for the industry. According to local securities firm East Money(東方財富), CEO Wang noted in a recent interview, "This year, the humanoid market is showing significant vitality. Both finished goods manufacturers and parts manufacturers have seen growth of at least 50% on average, with some even reaching 100%." He added, "The humanoid shipment volume across the entire industry is guaranteed to double each year for the next few years. If a major breakthrough in technology occurs, it could lead to a rapid annual shipment of hundreds of thousands, or even millions, of units within the next 2 to 3 years."
In a recent interview with the People's Daily on the 13th, it was reported that Chinese robots have a competitive edge in global production and manufacturing sectors, stating, "China has relatively high shipment volumes. Because it has advantages in production, manufacturing, and hardware, Chinese robot corporations are more competitive in terms of cost, and the barriers to use are low," adding, "This is advantageous for future large-scale development."
Unitree's ultimate goal is to create 'working' robots. They aim to develop versatile humanoids capable of performing tasks in all areas, whether in factories, performance venues, or homes. He mentioned, "For humanoids, they are currently easier to introduce in performance areas than in labor fields," adding, "Currently, the employees at Unitree are dedicated to training the robots to work in various environments beyond just performance venues."