Unitree Robotics

Robotics · Embodied AI · IPO

IPO

Unitree Robotics launches $622M IPO on Shanghai's STAR Market

The listing would make it the first pure-play humanoid robotics stock on China's A-share market, arriving days after a US ban on foreign robot imports.

• Unitree Robotics kicked off its STAR Market IPO process on July 30, planning to issue 40.45 million shares (10% of its enlarged capital) to raise roughly 4.2 billion yuan ($622M), implying a post-money valuation near $6.2 billion.
• Founded in 2016 in Hangzhou, Unitree is China's top maker of quadruped and humanoid robots, holding an estimated 60-70% share of the global quadruped robot market.
• Preliminary price inquiries run August 5, with online and offline subscriptions opening August 10; CITIC Securities is sponsor and lead underwriter, and founder Wang Xingxing will retain 65.31% of voting rights post-listing.
• Unitree shipped over 5,500 humanoid robots in 2025, the most globally, and expects first-half 2026 revenue of 1.05-1.13 billion yuan, up 35.6% to 45.4% year-over-year, with a 60.13% gross margin on core products.
• Unitree's application-to-approval process took just 104 days, one of the fastest in STAR Market history, as peers Leju Robot and Deep Robotics also had listing applications accepted in May.
• The speed of approval signals Beijing is fast-tracking capital access for embodied-AI hardware makers, positioning China's robotics sector against U.S. rivals just as Washington moves to restrict foreign robot imports.