Industry Chain
The humanoid robot industry chain — from a market cognition map to upstream components, OEMs, capital and applications.
Industry Panorama · Cognition Layer
Set the coordinates before diving into the chain — market pulse / capital markets / shipment landscape / development stages / structural calls / segment map
Market Pulse · Funding
2026 monthly financing vs. annual base
Jan–Jul 2026 humanoid financing reached ~¥164.1B (GG basis), far above the ¥39.8B full-year 2025 total; H1 alone was ¥104.1B (Yuanda), nearly double 2025, with June's ¥31.5B a record. August's monthly tally is pending; disclosed deals already include XPENG Robotics' $900M+ debut round (post-money $6.3B+) and LingChu's $100M+ round.
By 2025, China had 868 active humanoid-robot-related companies, including 140+ whole-machine OEMs and 330+ released products (MIIT, Qichacha; compiled by Analysys).
Capital Markets · Caps & Valuations
Listed caps (Aug 28, 2026 close) & latest primary valuations
Listed 2026-08-19, the first humanoid IPO; priced at ¥150.80, opened +629%, first-day close cap ~¥341.8B; latest close ¥585.00 (-4.88%).
Listed Dec 2023; latest close HK$83.50 (+0.66%); ~¥1.4B orders in 2025, targeting 10k-unit capacity in 2026.
Pursuing HK listing (Aug 2026); 15,000th Genie G2 rolled off in June.
Debut round $900M+ on 2026-08-24, a record for China's embodied AI.
Prior rounds led by Alibaba and NIO (2026-08-21).
Per GG July report; humanoid maker.
¥1B Series B in Feb 2026; ~¥3B raised in total.
~¥2B across two rounds in Feb 2026; ¥10B+ just 26 months after founding.
Tactile sensors; crossed ¥10B in July 2026.
Home robot / dexterous hand; new unicorns as of July 2026.
Capital-market channels are now open: Unitree became the first listed humanoid maker, AgiBot is pursuing a HK listing, RobotEra is reportedly prepping an IPO; Central Huijin holds stakes in 8 core humanoid-chain firms. Primary-market valuations concentrate on shipping leaders — six Chinese firms entered the ¥10B club in early 2026.
Shipment Landscape · Actuals & Forecasts
Omdia 2025 actuals + 2026 output forecasts
Leju, EngineAI and Fourier rank 4th–6th; Chinese vendors lead overall, shipping 84.7% of the global total.
From hundreds to 100k: global shipments grew from a few hundred (2023) to 3,000 (2024) to ~13,000 (2025); China's 2026 output is expected to pass 100k. Foshan runs China's first 10k-unit annual line (one robot every 30 minutes); AgiBot went from its 10,000th to 15,000th unit in just over two months.
Industry Coordinates · Stages
Five-stage evolution of China's embodied-AI industry (Analysys)
- 2026 is 'year one' of both mass production and capital markets: Unitree listed on the STAR Market, more IPOs in the pipeline
- MIIT & SASAC launched a live-scenario deployment action: 10k-unit scale and 100+ high-value scenarios by end-2026
- Humanoids now work routinely at BYD, Zeekr and Foton Cummins plants; Q1 exports hit ¥11.3B (+210%), sold in 148 countries
- Morgan Stanley, Goldman and Deutsche Bank all raised shipment forecasts; MIIT expects 100k+ units built this year
Structural Calls
Trend judgments from research reports and latest market moves
Global shipments: a few hundred (2023) → 3,000 (2024) → ~13,000 (2025); China's 2026 output may pass 100k. Foshan's 10k-unit line ships one robot every 30 minutes; Unitree's humanoid price fell from ¥593k (2023) to ¥29.9k — the cost curve is clearing the path to scale.
Unitree's first-day cap hit ~¥341.8B as the first listed humanoid maker; AgiBot is pursuing a HK listing, RobotEra is reportedly prepping one, and Central Huijin holds 8 chain names. Capital now follows firms that actually ship — fundraising heat is coupling with delivery.
Chinese vendors shipped 84.7% of the world's humanoids in 2025; Q1 2026 exports reached ¥11.3B (+210%) across 148 countries; Shanghai ports handled ¥8.6B of robot exports in the first five months — 42.5% of China's total.
MIIT and SASAC launched a 10k-unit live-deployment action targeting 100+ high-value manufacturing and livelihood scenarios, while NDRC warns against a blind rush. The commercial battleground has shifted from shows to 3C inspection, logistics sorting and auto manufacturing.
Chain Map · Segment Navigator
ZoSi Research directory basis: companies covered per segment, tap to jump
Sources: market caps from Tencent/Eastmoney (Aug 28, 2026 close); shipments from Omdia 'General Embodied Robot Market Radar' (Jan 2026); funding from GG Humanoid monthly reports (Jan–Jul 2026) and Yuanda H1-2026 statistics; output and forecasts from MIIT (WAIC 2026), Morgan Stanley, GGII and Deutsche Bank; company counts and 2025 baselines from Analysys and ZoSi Research '2026 Embodied-AI Robot Industry Chain Panorama'. Public information, for reference only.
Humanoid Anatomy
10 core segments mapped onto the robot body · tap a number to jump
Tap a numbered hotspot to jump to its segment
Upstream Core Components
16 key segments · highest cost share & tech moats
LiDAR
3Head-mounted LiDAR adds mapping and navigation redundancy for mobile scenarios.
Vision & 3D Sensing
4Stereo, structured-light and ToF depth cameras are the robot's eyes.
Precision Reducers
6Harmonic/RV reducers set joint precision and life; the biggest rotary-joint cost.
Encoders
4High-precision encoders close the loop on joint-angle control.
Frameless Torque Motors
4High torque-density frameless motors directly drive rotary joints.
Coreless Motors
3Coreless motors are small and fast, the mainstream finger-drive choice.
6-Axis Force/Torque Sensors
6Wrist/ankle 6-axis F/T sensors give contact-force awareness for force control.
Tactile Sensing & E-Skin
8Fingertip tactile arrays and e-skin detect slip for dexterous manipulation.
Dexterous Hands
10Multi-DoF dexterous hands are the end-effector of general manipulation.
Battery
4High C-rate packs set runtime and peak power; humanoids carry 1-2 kWh.
Controllers & Motion Control
4Real-time controllers and servo drives handle balance and tracking.
IMU
3High-performance MEMS IMUs feed attitude data to balance algorithms.
Bearings
3Cross-roller and thin-section bearings carry joint and screw loads.
Actuators & Joint Modules
10Rotary/linear actuators integrate motor, reducer, screw and sensing.
Planetary Roller Screws
7Planetary roller screws convert rotation into linear force.
Structure & Lightweight Materials
5PEEK, carbon fiber and die-casting cut weight, boosting runtime.
Embodied AI & Foundation Models
VLA, world models and sim data form the embodied-AI software stack.
Humanoid OEM Directory
115 companies · Beijing / Shanghai / Shenzhen / Hangzhou + 20 cities
北京
32Founded by Dr. Wang He, assistant professor at Peking Un
Founded by Jiang Zheyuan, a 1998-born Tsinghua PhD stude
Founded by Professor Chen Jianyu, doctoral supervisor at
Jointly established in November 2023 by UBTECH, Jingchen
Founded by researchers from the German Aerospace Center,
Founded by Liu Fang (SJTU CS master's, among Google's ea
Led by CEO Zhang Yufeng, former Horizon Robotics VP and
Founded by Zhang Rui, who previously worked at Beihang U
Founded by Cheng Hao, Tsinghua bachelor's and master's g
Co-founded by CEO Chen Yan (Southeast University CS grad
Founded by Dr. Zhang Zhengtao, researcher and PhD adviso
Co-founded by Dr. Lian Wenzhao (CAS researcher, former F
A wholly-owned subsidiary of listed company XinXing Equi
Co-founded by Wang Kun, former founding member of JD's u
A humanoid robotics company founded and led by CEO Tang
Founded by Tsinghua University's top motion control team
Founded by Dr. Liu Nianfeng (CAS Institute of Automation
Founded by Gao Jiyang, Tsinghua Electronics Department u
Founded by Beijing理工大学's humanoid robotics team, with fo
JD.com's smart robotics division, established in March 2
Founded by Li Xiang, founder of Autohome. In May 2026, L
Founded by Yang Hongbing (Tsinghua graduate, former Tenc
Founded by Zhang Haixing, former founding leader of Tesl
Founded by Ren Xiaoyu and co-founder Mao Shuhan (both Ts
Founded by Zheng Suibing, RealMan's core team comprises
Co-founded in December 2024 (operations began March 2025
Founded in Beijing in Sep 2015 by Xu Huayang, Tsinghua m
Founded by Dong Xiaojian, with core R&D from leading sem
Operated independently as Beijing Xiaomi Robotics Techno
Founded in 2022, headquartered in Beijing; founder Tang沐
Co-founded by Academician Ren Luquan (Jilin University)
Incubated by the Chinese Academy of Sciences, with CEO S
上海
22Founded by Peng Zhihui (aka "稚晖君"), former Huawei "Geniu
Founded by Gu Jie, a Shanghai Jiao Tong University mecha
Founded in Shanghai in Nov 2020 by Wang Dezhao, former t
Founded by Bill Huang, former CTO of UTStarcom and head
Founded by Cambridge PhD Niu Tengfei, formerly an autono
Founded by Professor Li Qingdu, executive dean of the Ma
Founded by Zhang Yi, former founder of Zhangmen Educatio
Founded by CEO Qi Jianwei, the first Chinese employee at
A state-backed R&D institution co-founded by leading ent
China's leading collaborative robot maker, JAKA ranked f
The world's No.1 shipper of commercial service robots (I
Founded by Dr. Liang Conghui, formerly a T12 expert rese
Co-founded by Yang Hua, founder of Puremi Technology, an
Founded by Dr. Wang Lei, a Tsinghua electronic engineeri
Founded by Huang Yi (born 2004), who entered Harbin Inst
Founded by CEO Shi Yunlei, a student of German Academy o
One of China's largest automotive groups, SAIC Motor beg
Founded in May 2014 with dual HQs in Shanghai and Shenya
Originally an advanced materials company, Swancor entere
Founded by Dr. Chen Yilun, former Huawei Autonomous Driv
TIS Robot focuses on high-performance lightweight joint
An AI-robotics education company whose founding team has
深圳
27Founded by Dr. Guo Yandong, formerly a researcher at Mic
Founded by Dr. Jia Kui, tenured professor at CUHK-Shenzh
Founded by Zhao Tongyang, a humanoid-robotics veteran of
Founded by Zhang Wei, tenured professor at SUSTech and f
Founded by Waseda University PhD Xu Jincheng, with found
Founded by Zhou Jian in 2012, who serves as Chairman and
Led by CEO Wang Qian (Tsinghua, USC robotics PhD), CTO W
Founded by Zhang Xinliang, a Harbin University of Scienc
Founded by Lai Jie, first employee of Tencent Robotics X
Founded by Chen Siwei, a National University of Singapor
The world's largest NEV maker, founded by Wang Chuanfu.
Founded in July 2024, Cyborg focuses on all-terrain, all
Founded by Shen Jian, a veteran of 20+ years in top IT e
Shenzhen bionic-intelligence and humanoid company founde
Co-founded by Liu Peichao (Shandong University mechanica
Co-founded in August 2016 by Wu Qilin and peers, with fo
The global smart-device giant spun off from Huawei in 20
Founded by legal representative Yu Jie with a 50-99 pers
Founded by a Harbin Institute of Technology PhD team — C
Founded by Xiao Kai, who was inspired by Musk's humanoid
Founded by Yu Chao, former head of Dreame's humanoid bus
A leading global precision functional-parts maker founde
Founded in Shenzhen in 2025 by CTO Huang Qingqiu (Tsingh
Founded by Li Zhichen, who graduated from Harbin Institu
Founded by Zhang Tao, an HKUST mechanical engineering gr
Founded in Shenzhen in Nov 2018 by Dr. Geng Kaiping. Com
A special-industry embodied-AI company founded in Shenzh
杭州
11Co-founded by Zhu Qiuguo, a Zhejiang University PhD and
Led by CEO Han Fengtao, former co-founder and CTO of Rok
Founded by Wang Xingxing, a Zhejiang native with degrees
Founded by ex-Alibaba VP Bai Huiyuan as CEO, with chief
Founded and controlled by chairman and general manager G
Founded by CEO Wang Hongtao, a Tsinghua- and Harvard-edu
Wholly owned by Ant Group with RMB 100M registered capit
Founded by Hu Luhui, former Meta chief engineering lead
Incubated from Zhejiang University's academician team an
Co-founded by Dr. Wang Donglin, deputy director of Westl
Jointly established by the Automation Research Institute
Other cities
45Incubated by GAC Group and founded in February 2026 as t
Incubated by Dreame Technology and now led by CTO Chen C
Founded by CEO Song Tao (2026 Capek Award 'Entrepreneur
Uses teleoperated robots for warehouse sorting and packi
One of China's 'Big Four' automakers, Changan is shiftin
Led by founder-chairman Dr. Xiao Xiangjiang, former dire
One of China's 'Big Four' automakers, Chery has explored
Makes the mobile robot Proxie for collaborative cart and
Automates lab assays in drug discovery, with robots and
One of China's 'Big Four' automakers, Dongfeng designate
Efort Intelligent Equipment is a leading Chinese industr
Founded by legal representative Feng Zhenyu, EIR Technol
Incubated by Estun Automation, one of China's 'four litt
China's first state-owned automaker, FAW debuted its sel
One of China's major automakers, GAC began its humanoid
Makes climbing robots and AI software to inspect power p
Controlled by Dou Qiaoqi and co-developing the 'Laborer'
Makes AI-driven surface-processing robots for sanding, g
Jointly established by Dongyanggwang Group, AgiBot, Peki
UK general-purpose humanoid maker targeting industrial a
Founded in Suzhou in Dec 2024 by Guo Renjie (Xi'an Jiaot
Founded by Zhao Wei, a Southeast University PhD who bega
Korean consumer-electronics giant formally entering phys
Led by CEO Li Weichong, Li-Gong is a national 'Little Gi
Develops robotic factories for complex metal-part manufa
Builds autonomous factories to assemble drones and robot
Builds general-purpose humanoids for hazardous and heavy
Founded by CEO Yan Xunge (David Yan) and CTO Cui Haotian
Founded by Tuo Hua (born 1983, Peking University master'
Seres Group is an automaker in deep partnership with Hua
A Harbin-Engineering-University-lineage deep-sea robotic
Makes the wheeled home robot Memo. Backed by Bain Capita
Maker of the Optimus humanoid. In August 2026 Elon Musk
Established on December 31, 2024, with iSoftStone holdin
Incubated by founder Hu Tianlian from a 2009 Southwest U
Founded by Yang Fengyu, a Yale CS PhD born in 2000 with
Makes solar-powered miniature robots that deliver fertil
Spun out of the Toyota Research Institute, Walden Roboti
Originally PengXing Intelligence, acquired and integrate
Founded by Fan Yong, former researcher at CAS Institute
Founded by Zhang Zhaohui, a robotics PhD candidate at Xi
Founded by He Liang, former deputy director of the Shang
Founded by post-2000 members of Tsinghua University's AI
Co-founded by a research team led by Zhejiang University
Delivery-drone operator moving medical supplies, food an
Capital & Milestones
Embodied Applications
Workforce Structure
Team sizes and R&D mix disclosed by leading humanoid makers, China and abroad · undisclosed firms are not estimated
Domestic OEMs
Unit: people · dark segment = R&D staff · bracket = as-of date
International leaders
Unit: people · dark segment = R&D staff · bracket = as-of date
Structural observations
R&D shares among disclosing firms span 36% to over 80%: Unitree 36.5% (175), DEEP Robotics ~40%, Fourier above 40% (200+), DexForce above 70%, RobotEra and MagicLab above 80%, Agibot over 70% (~1,100 working on embodied foundation models). Algorithm and model teams are the core asset of embodied AI.
UBTECH's 2024 report shows RMB 941M total compensation, about RMB 430K per person; Liepin data puts the average new robot-industry posting at ¥328K/yr and humanoid roles at ¥406K, with bachelor-level salaries up 240% YoY.
Noetix grew from ~50 to ~170 people in four months, average age under 25; Agibot's parent already employs 1,570+ and expects to pass 2,000 by end-2026; Unitree grew from 480 at its prospectus date to 516 by end-2025. International leaders are scaling too: 1X Technologies added ~251 people in a year and Apptronik grew 21.3% YoY (Revelio Labs estimates).
Liepin's 2026 robotics talent report: humanoid job postings +215.8% YoY, the wider robot field +75.26%; master's-level postings grow fastest (+87.8%); 63.1% of robot-trainer demand sits in Beijing, Shenzhen, Shanghai and Hangzhou.
Sources: Unitree / DEEP Robotics STAR Market prospectuses, UBTECH 2024 annual report, Eastmoney (2026-08-20), iFeng Tech (2025-05-12), Baobian (2025-09-20), Liepin '2026 Robotics Talent Supply & Demand Trends'; international figures from Neura Robotics' website, PitchBook, Revelio Labs workforce estimates (2026-03) and media coverage. Only firms with credible public disclosures are shown; undisclosed firms are left blank rather than estimated.
Sources: MechAwakening '2026 China Humanoid Company List' (2026-08) and public industry research; A-share tickers limited to high-confidence names.