Unitree Robotics is a Chinese technology company specialising in advanced robotics, best known for its relatively inexpensive quadruped and humanoid robots.
In a bid to raise 6.1 billion yuan ($904 million) and become the first mainland-listed manufacturer of humanoid robots, Chinese robot maker Unitree has priced its Shanghai IPO at 150.8 yuan ($22.35) per share. Subscriptions will begin on Monday, according to a report by Reuters.
The Hangzhou-based company, founded in 2016 by engineer Wang Xingxing, first gained recognition for its relatively inexpensive quadruped robots, also known as robot dogs.
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Viral demonstrations of its G1, H1 and R1 humanoids running, dancing and practising martial arts have attracted international attention. The company faces competition from Boston Dynamics, Tesla and a growing number of Chinese firms developing robots that could eventually operate in homes and industrial settings.
In 2025, Unitree's revenue more than quadrupled to nearly 1.7 billion yuan. It is profitable, with an adjusted net profit of about 600 million yuan, unlike many humanoid robotics startups. More than 40% of its sales during each of the reporting periods disclosed in its prospectus came from overseas markets.
Unitree: Why Is It Important?
By leveraging China's extensive supply chains for motors, sensors, batteries and other components, Unitree has demonstrated how the country can produce sophisticated robots at costs significantly lower than those of many overseas competitors.
It has also become a symbol of Beijing's push to dominate embodied intelligence, an emerging field that combines AI models with machines capable of moving and interacting with the physical world.
However, Unitree's financial success does not yet prove that humanoid robots can replace human workers. Current demand comes largely from universities and government-backed initiatives using robots for teaching, research and demonstrations.
Reliability, dexterity and the ability to perform a wide range of tasks for extended periods without human assistance remain challenges for humanoid robots.
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Why Are Listings Sought By Robot Makers?
Developing humanoid robots requires significant investment in engineers, robot-training data, AI models and manufacturing capacity, years before demand from businesses or households becomes clear.
As a result, public markets can provide companies with the funding needed to continue advancing their technology while investor interest and government support remain strong.
The Kuavo humanoid manufacturer Leju Robotics submitted an application in May to list on the ChiNext market in Shenzhen.
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