Unitree Robotics Seeks $610 Million in Shanghai IPO Amid Robot Sales Boom
Unitree Robotics files for a $610 million IPO on Shanghai's STAR Market after selling over 5,500 humanoid robots and turning its first profit in 2025. The company plans to use the funds to massively expand its production capacity over the next five years.
Unitree Robotics, widely considered the world's largest maker of humanoid robots, files for an initial public offering on Shanghai’s STAR Market that aims to raise up to 4.2 billion yuan, or $610 million. The Hangzhou-based company reports explosive growth for 2025, with revenue surging 335 percent to 1.71 billion yuan and adjusted net profit reaching 600 million yuan to mark its first profitable year. This financial milestone highlights the rapid commercialization of humanoid machines in the global market.
The company's prospectus reveals that Unitree sells over 5,500 humanoid robots to end customers in 2025, easily claiming the top global market share. Humanoid robots quickly become the company's core business, growing from a mere 1.9 percent of revenue in 2023 to over 51 percent by the third quarter of 2025. Meanwhile, the average selling price of these robots drops significantly from $85,000 to $25,000, yet gross margins improve to nearly 60 percent because Unitree develops its own core components in-house.
Unitree plans to use the IPO proceeds to fund research, develop new products, and expand manufacturing capacity to produce 75,000 humanoid robots and 115,000 quadrupeds annually over the next five years. The company benefits from a streamlined pre-screening mechanism on the STAR Market designed specifically to support hard technology enterprises. Industry analysts note that this landmark IPO triggers an expected market consolidation, predicting the current pool of more than 100 Chinese humanoid robot companies will soon shrink to just a few dozen dominant players.