Unitree Seeks $610 Million in Shanghai IPO to Fuel Humanoid Robot Expansion
Chinese robotics startup Unitree files for a major Shanghai IPO, aiming to raise $610 million as humanoid robots become its primary revenue driver. The company currently holds nearly a third of the global humanoid market.
Chinese startup Unitree Robotics files an initial public offering application with the Shanghai Stock Exchange, seeking to raise 4.2 billion yuan, or $610 million. This highly anticipated listing serves as a major test of investor appetite for the humanoid robot sector. The company currently leads the global market after shipping over 5,500 units last year, capturing 32.4% of worldwide market share.
Humanoid robots drive Unitree's impressive financial growth, with the category accounting for over half of its main business revenue in the first nine months of 2025. The firm's operating income surges 335% year-on-year to 1.708 billion yuan, while net profit jumps by 674%. Recently, the company's advanced robots showcase their capabilities by performing complex martial arts choreography during a televised state media gala.
China heavily promotes embodied artificial intelligence as a strategic frontier industry, and this IPO aligns with national efforts to fund domestic tech champions. However, real-world factory integration remains limited despite these ambitious plans. Currently, Unitree generates most of its humanoid application revenue from enterprise reception and tour-guide services, which account for roughly 50% to 70% of that specific income stream.