Chinese robot manufacturer, Unitree Robotics, has successfully passed a crucial milestone on its path to entering the stock market. The Shanghai Stock Exchange’s STAR Market listing committee has given the green light to its initial public offering (IPO) application, setting the stage for its stock market debut. This decision was announced on Monday. Remarkably, the approval was granted a mere 73 days after Unitree submitted its IPO application on March 20. This makes it the speediest IPO review process completed in China this year.
Unitree Robotics is aiming to raise an impressive 4.2 billion yuan (approximately $584 million), according to information outlined in its prospectus. With a target of making at least 10% of its shares public, the company’s fundraising goal indicates a valuation of around 42 billion yuan. Established in 2016 by Wang Xingxing, a young entrepreneur born in the 1990s, Unitree is headquartered in Hangzhou and specializes in the development of quadruped and humanoid robots, along with robotic components. Among these, humanoid robots are emerging as the fastest-growing sector within the robotics industry.
According to Unitree’s prospectus, its revenue is projected to soar from 159 million yuan in 2023 to an impressive 1.7 billion yuan in 2025. Similarly, the company anticipates a significant shift in net profit from a loss of 11 million yuan in 2023 to a profit of 278 million yuan in 2025. The company’s disclosure highlights that it dispatched over 5,500 units of its humanoid robots in 2025, securing the top spot globally. Notably, Unitree stands out as one of the few profitable entities in China’s rapidly expanding domain of embodied AI and robotics.
Given the company’s steady progress toward its stock market listing, investors are expected to closely monitor its journey, especially as numerous domestic robotics startups are eyeing public market financing opportunities. The CEO of Tesla, Elon Musk, recently expressed admiration for Unitree’s piloted mech robot, labeling it as “cool.”(Unitree is set to introduce life-cycle tracing ID numbers for humanoid robots.)
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