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The stock fell to HK$159.3 (US$20), below its HK$165 (US$21) offering price, wiping out all gains since its trading debut.

The company could go public as soon as 2027, though the size and timing of the offering could still change.

Unitree already markets humanoid robots through its online shop, including the G1 model, linking the project to the company’s hardware business.

Hong Kong-listed QuantGroup, which says it provides foundation models for physical AI, is participating through an affiliate as a limited partner.

The company is increasing spending on AI data centers and open-source models as it prepares for an initial public offering.

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Ant Lingbo previously claimed a robot-sensing breakthrough to cut collisions with glass doors.

It is designed to reduce deployment costs on Nvidia’s SM100 Blackwell graphics processing units and Huawei’s Ascend 950 chips.

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