Humanoid robots represent the highest form of embodied intelligence. In 2025, the boom of embodied intelligence sector in China has exceeded even insiders’ expectations. Embodied intelligence refers to an intelligent system that perceives and acts through a physical body, and humanoid robots are the most complex in terms of technology and craftsmanship.
Embodied intelligence has become the hottest trend in the capital market. According to Huaxin Capital, a technology investment platform, in the first seven months of 2025, total financing in the embodied intelligence industry exceeded 30 billion yuan in the primary market—compared with just 7.5 billion yuan in the first half of 2024. The secondary market is also heated. On the A-share market, 110 listed companies under the humanoid robot concept saw their share prices rise by an average of 67.63% this year, with 18 stocks doubling in value compared with the end of last year.
Caijing has learned that several embodied intelligence companies are already advancing toward IPOs. Investors are actively investing along the embodied intelligence value chain, including data and component suppliers. But beneath the frenzy, bubbles are already forming.
