China’s Unitree Robotics Plans $7 Billion Shanghai IPO

Unitree Robotics, a leading Chinese humanoid robot maker based in Hangzhou, is preparing for an initial public offering (IPO) targeting a valuation of up to 50 billion yuan ($7 billion), which would rank among the largest Chinese tech IPOs in recent years. The company, which has been profitable since 2020 and generated over 1 billion yuan in revenue, plans to list on Shanghai's STAR Market in the fourth quarter of 2025. Backed by major investors including Alibaba, Tencent, and Geely, Unitree has gained global attention for its affordable humanoid robots that significantly undercut competitors like Boston Dynamics in price, selling over 23,000 units in 2024. The IPO reflects China's broader push to support domestic AI and advanced manufacturing sectors amid efforts to strengthen technology self-sufficiency. Unitree's humanoid robots are widely used in Chinese universities, entertainment, and sports events, reinforcing its leadership in the robotics industry. The company's founder, Wang Xingxing, has also engaged with Chinese leadership, signaling strong government support for the robotics sector.