The Belt 
Beijing has put a binding legal floor under L3 and L4 self-driving, effective July 2027. The race is no longer about features on the demo reel, but about a compute architecture that stays compliant five years out.
As Unitree lists at a near 61 billion yuan valuation, Wang Xingxing’s three years of public candour, from ‘we do not do humanoids’ to G1’s price bomb, read as the prospectus of China’s first humanoid stock.
Oaknut Robotics closed an angel round led by China Merchants Venture and NIO Capital, betting on instinct-driven, touch-first manipulation rather than the dominant VLA data-driven path.
Moxing AI closed an A round led by Yida Capital and sells trillions of tokens a day, arguing that efficient deployment, not open weights, is the real barrier in the inference-factory boom.
Zhongke Yuandongli, a national little-giant in agricultural robots, closed a nine-figure B2 round led by Chery, linking car-grade engineering to L4 autonomous farm machinery.
Jieluo Intelligent broke ground on a 1.2 billion yuan Suzhou base to make 2,000 trackless-navigation AMRs a year, serving about 70 per cent of the world’s top chip makers.
Deep Robotics filed its STAR Market IPO reply, seeking 2.502 billion yuan even though its profit comes from quadruped dogs and its humanoid sold just 4 units in two years.
Estun will pay 487 million yuan for 100 per cent of loss-making Cuzhuo at a 901 per cent premium, betting on collaborative and humanoid robots to complete its range.
Canchen Tech closed a tens-of-millions yuan seed-to-angel series to build AI virtual-organ digital twins that may replace parts of animal testing, backed by a new Chinese regulatory pilot.
PaXini has raised a new 1 billion yuan strategic round, taking total funding to 3.5 billion yuan, with a trillion-yuan semiconductor giant and sovereign funds now on the cap table.