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Xiaofei Xu

Wency Chen

Unitree Robotics will launch its initial public offering (IPO) in Shanghai next week, the firm announced late on Thursday, as China’s robotics start-ups race to go public amid an intense rivalry with their counterparts in the United States.
The Hangzhou-based company plans to sell 40.45 million shares, or 10 per cent of its enlarged share capital.
It is another closely watched debut on Shanghai’s Star Market, following the recent listing of ChangXin Memory Technologies (CXMT), whose market capitalisation briefly exceeded 4 trillion yuan (US$592 billion) on Friday, making it the most valuable company listed on a mainland Chinese exchange.
After the listing, Unitree founder Wang Xingxing and related parties will hold 31.29 per cent of the company’s shares and 65.31 per cent of its voting rights.
Unitree will begin book-building on August 5 and set an offer price the following day, with the final results set to be published on August 14.


Unitree’s announcement came days after the United States announced an effective ban on imports of new foreign-made robots, in a move widely seen as a response to China’s rapid advances in the sector.
Unitree said in an IPO filing updated on Friday that its G1, H2 and R1 humanoids and Go2, B2 and A2 quadrupeds had received Federal Communications Commission certification, meaning the models would not be impacted by the new ban.
The US accounted for 18.4 per cent, 19.5 per cent and 13.3 per cent of Unitree’s revenue in 2023, 2024 and 2025, respectively, the company said.
It earlier announced a partnership with Nvidia on a new humanoid model named Isaac GR00T or H2+, due later this year. The restrictions raise questions over whether it will secure US authorisation.
Unitree warned that further adverse US trade, tariff or regulatory measures could hurt growth. It remains on a Pentagon list of Chinese military companies, restricting US defence procurement.
The ban will apply to new “advanced robotic devices” made in several countries including China, covering humanoids, quadrupeds and a broad class of connected mobile machines – including robot vacuum cleaners.
Chinese companies accounted for more than 80 per cent of the humanoid robots installed globally last year, according to a report by Counterpoint Research.
One of China’s most high-profile robotics firms, Unitree had its listing application accepted by the Shanghai Stock Exchange in March. China’s securities regulator cleared the registration on July 2.
The company’s accounts showed a profitable business in a sector that mostly burned cash. Unitree booked revenue of 1.7 billion yuan last year and adjusted profits of 591 million yuan.
By contrast, its peer UBTech Robotics – which is listed in Hong Kong – generated revenue of 2 billion yuan over the same period, but made a loss of some 700 million yuan.
Unitree has achieved huge popularity in China after its humanoid robots performed during the country’s Spring Festival Gala – one of the world’s most watched television shows – for the past two years.
The firm is one of several Chinese robotics firms pursuing plans to go public. AgiBot was preparing for a Hong Kong listing, people familiar with the matter said, and Leju Robotics and Deep Robotics had their listing applications accepted in Shenzhen and Shanghai.


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The Hangzhou-based firm will launch its listing in Shanghai next week, as a string of Chinese robotics start-ups pursue plans to go public


The Hangzhou-based firm will launch its listing in Shanghai next week, as a string of Chinese robotics start-ups pursue plans to go public.


Unitree to launch IPO next week as US-China robotics rivalry intensifies

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}The Hangzhou-based firm will launch its listing in Shanghai next week, as a string of Chinese robotics start-ups pursue plans to go public

The Hangzhou-based firm will launch its listing in Shanghai next week, as a string of Chinese robotics start-ups pursue plans to go public