TL;DRChina shipped 90 per cent of the world’s humanoid robots in 2025 and has more than 150 companies in the sector, but only 23 per cent of surveyed enterprises are satisfied with the products available. Morgan Stanley warns of a shake-out as billion-dollar IPOs collide with two-hour battery life and a market that delivered just 14,000 units last year. China has more than 150 humanoid robot companies. It shipped roughly 90 per cent of the world’s humanoid robots in 2025. Its two largest makers, Unitree and AgiBot, are preparing initial public offerings that would value them at a combined 13...