China Physical AI Roundup: Unitree Earnings, AgiBot Robot Launch, XPeng Robotaxi Update, Plus Funding & Xiaomi’s New Hand

Insider Brief

• Unitree reported third-quarter 2026 revenue of 665 million yuan (about $94 million), up 69.93%, while net profit fell 17.37% as research and development more than tripled.
• PIA Automation raised 1.025 billion yuan (about $145 million) in a STAR Market placement, with 542.1 million yuan (about $77 million) earmarked for intelligent-robot work including the Jarvis humanoid.
• AgiBot launched the G2 Max heavy-duty wheeled robot, CASBOT and MoSense closed funding rounds, XPeng won Guangzhou L4 robotaxi demo approval and Xiaomi disclosed a 21-DoF factory hand.

China’s robotics industry continues to ride a wave of investment, product launches and commercial deployments. New developments include Unitree’s surging revenue and research spending, fresh funding for humanoid and tactile-sensing technologies, and advances in robotic manipulation and autonomous driving.

Unitree

Unitree said third-quarter 2026 revenue reached 665 million yuan (about $94 million), up 69.93% from a year earlier, as the Hangzhou robotics company posted its first quarterly results since listing on Shanghai’s STAR Market.

The 2026 third-quarter report shows net profit attributable to shareholders of 112.7 million yuan (about $16 million), down 17.37%. Third-quarter research and development spending rose 249.58% to 127 million yuan (about $18 million), or 19.10% of revenue, which Unitree (688836.SH) linked mainly to embodied-intelligence models, compute and new products. The financial statements are unaudited.

PIA Automation

PIA Automation sold 144 million new A shares at 7.12 yuan each for gross proceeds of 1.025 billion yuan (about $145 million), according to its STAR Market issuance-result filing. The prospectus earmarks 542.1 million yuan (about $77 million), or 52.9% of proceeds, for an intelligent-robot research and industrialization project as the Ningbo automation supplier develops its Jarvis humanoid with partners including AgiBot, JAKA and Galbot.

AgiBot

AgiBot launched the AGIBOT G2 Max, a safety-certified heavy-duty dual-arm wheeled robot with a 20-kilogram rated load per arm, a 50-kilogram peak dual-arm load and ±0.5 millimeter repeat positioning accuracy, according to coverage citing the company. AgiBot said the machine is validating on fast-moving consumer goods, e-commerce and food lines and feeds the Qiyuan T1 line at Huguang Shares at a 2.5-minute takt. The company had scheduled the G2 Max for Oct. 26 in its AI WAVE series.

CASBOT (Zhongke Huiling)

Zhongke Huiling, also called CASBOT, closed an A++ round of several hundred million yuan (tens of millions of dollars) from Zhilai Investment, Yonghua Investment, Maotian, Yuanhe Chenkun, Guoke Keji and Luning, ChinaVenture reported. The exact amount was undisclosed. Proceeds go to mass-production delivery, embodied-brain research and overseas expansion. The Beijing humanoid maker said shoe-making robot orders on hand exceed 400 million yuan.

MoSense

MoSense closed a 100 million yuan-level (about $14 million-plus) angel-plus round co-led by CDH Investments and Oasis Capital, with LimX Dynamics among the followers, Jiemian reported. The exact amount was undisclosed. The Shanghai startup builds whole-body multimodal tactile sensing for robots.

XPeng

XPeng Group received Guangzhou approval for citywide Level 4 robotaxi demonstration operations, according to company WeChat messages cited by CLS. The invitation-only service moves from technical validation toward operations and business-model tests. Fleet size and safety-driver status were undisclosed.

Xiaomi

Xiaomi disclosed a 21-degree-of-freedom bionic dexterous hand for factory work, with 26 motors and 1,500-point full-palm tactile sensing, according to IT Home citing Xiaomi Tech. The design drew on 1,827 of 2,579 standard operating procedures across 16 work sections at Xiaomi’s auto plant pilot center. No product pricing was given.