Unitree, a Chinese robotics company, successfully priced its Shanghai initial public offering at 150.8 yuan ($22.34) per share, bringing its total valuation to approximately 61 billion yuan ($9.04 billion). This milestone makes Unitree the first mainland-listed producer of humanoid robots in China. The company, also known as Yushu Technology, aims to raise 6.1 billion yuan through this offering, surpassing its initial target of 50 billion yuan.
Amid escalating trade and technology disputes between the United States and China, Unitree faces potential challenges related to U.S. market access and technology restrictions. While their current humanoid and four-legged robots have received U.S. approvals, future models may encounter sales limitations in the American market. The company, based in Hangzhou, plans to issue 40.45 million new shares, equivalent to 10% of its expanded share capital, on Shanghai’s STAR Market.
DeepSeek, a Chinese AI firm, is among the strategic investors participating in Unitree’s IPO. Subscription for the IPO is set to commence on August 10, with proceeds intended for enhancing robot software and hardware, introducing new products, and establishing a manufacturing facility, as outlined in the company’s prospectus.
Unitree disclosed that sales in the U.S. contributed to 13.3% of its revenue in the previous year. Factors such as U.S. tariffs, procurement restrictions, export controls, or the potential loss of current approvals could impact international growth and disrupt the supply chain. Despite robust revenue growth in 2025, which exceeded 1.7 billion yuan, profit margins decreased in the first quarter of this year due to heightened investment in research and marketing.
With humanoid robots emerging as the primary revenue stream for Unitree, the company remains optimistic about its growth trajectory, albeit acknowledging the need to mitigate potential risks associated with U.S. market uncertainties. Unitree’s journey into the IPO market reflects its commitment to innovation and expansion in the competitive robotics industry.
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