Unitree Robotics Plans $9 Billion IPO on Shanghai Stock Exchange

Unitree Robotics, also known as Yushu Technology, is preparing for an initial public offering (IPO) on the Shanghai Stock Exchange’s STAR Market, targeting a valuation of around 61 billion yuan (approximately $9 billion). This listing marks a significant milestone as it will be the first humanoid robot company to go public on mainland China's exchanges.

The company plans to raise about 6.1 billion yuan ($904 million) by issuing 40.45 million new shares, priced at 150.8 yuan ($22.3) each. The IPO pricing period is set for August 6-7, 2026, following a remarkably swift regulatory review process that concluded in just 104 days after the application was accepted on March 20, 2026.

Unitree has experienced substantial growth, reporting 2025 revenue of approximately 1.7 billion yuan, a fourfold increase year-over-year, and shipping around 5,500 humanoid units while maintaining gross margins of about 60%. The proceeds from the IPO will be allocated towards AI model training, new product development, and expanding manufacturing capacity.

As the robotics sector in China heats up, Unitree is not alone in its pursuit of public markets. Other companies are also eyeing listings amid increasing competition with American firms in the field of embodied artificial intelligence. The Chinese government has been actively supporting the robotics industry through various initiatives, which has contributed to the favorable conditions for Unitree’s IPO.

Wang Xingxing, the founder of Unitree, retains approximately 23.8% equity and 69% voting rights in the company, indicating that public investors will largely be placing their trust in his vision for the company's future.