Zhejiang Fenglong Electric
Shenzhen-listed maker of garden machinery engines, hydraulic controls and auto parts, controlled by UBTech since 2026
- Inside Unitree Robotics, where humanoids now outsell robot dogs but nearly three-quarters go to labs and classrooms
Unitree Robotics, the Hangzhou maker of quadruped and humanoid robots that listed on Shanghai's STAR Market in August 2026, now earns more from humanoids than from robot dogs. Its filings show 73.6% of humanoid revenue in the first nine months of 2025 came from research and education buyers, the central question for a company worth about RMB61 billion at its issue price.
Mentioned - UBTech lifts its stake in Shenzhen-listed Fenglong to 43% as its RMB1.67 billion move into manufacturing closes
UBTech Robotics said on April 24 that it had completed the transfer of shares tendered in its partial offer for Zhejiang Fenglong Electric, taking its holding to 93,979,906 A shares, about 43.01% of the company. The Hong Kong-listed humanoid maker paid RMB17.72 a share in both steps of a deal worth up to RMB1.67 billion and later amended terms to nominate seven of eight Fenglong directors.
Target - UBTech sells 1,079 full-size humanoids in 2025 as robot revenue rises 22-fold to RMB820.6 million
UBTech Robotics said in its 2025 annual results that revenue from full-size humanoid robots rose 2,203.7% to RMB820.6 million on 1,079 units, lifting group revenue 53.3% to RMB2.0 billion. The net loss narrowed to RMB789.8 million, while three share placings raised RMB5.78 billion to fund capacity for more than 6,000 robots a year.
Target