Unitree’s IPO timeline and valuation
Based in Hangzhou, Yushu Technology, better known as Unitree Robotics, is preparing for a major public offering on the STAR Market in Shanghai. The company filed a stock exchange document this week, showing a planned issue price of 150.80 yuan per share. With 40.4 million shares on offer, the IPO will represent about ten percent of the company’s ownership. Unitree’s filing with the Shanghai stock exchange indicates the firm is aiming to raise approximately 6.1 billion yuan. If the offering succeeds, the company will become the first publicly listed manufacturer of humanoid robots in all of mainland China.
The subscription period is set to start on August 10th, with the overall valuation of the company estimated at 61 billion yuan. The IPO is part of a broader wave of excitement around humanoid robotics, with such technology seen as a key area in the global race for artificial intelligence dominance. Unitree, which has already become a leading player in the field, is gaining attention for its strategic positioning in this fast-growing industry.
Strategic investors and AI collaboration
A key aspect of the IPO is the allocation of 20 percent of shares for strategic partners. This includes a notable investment from Hangzhou DeepSeek Artificial Intelligence. The firm secured a stake of 2.31 percent for 140 million yuan, which comes with a lock-up period of three years. Through this partnership, Unitree will leverage DeepSeek’s AI capabilities to build more advanced models for its humanoid robots. The collaboration also allows DeepSeek to purchase robots from Unitree and get support in model architecture, computing infrastructure, and data center operations.
Tencent is also among the major players in the IPO, with an investment vehicle of the company acquiring 2.23 percent of Unitree for 136 million yuan. The tech giant plans to work closely with Unitree to develop AI-driven models for humanoid robots, aiming to speed up their integration into diverse environments. This collaboration shows both companies’ interest in pushing the boundaries of embodied intelligence and robotics.
Growth and financial performance
Unitree has achieved significant success in recent years, becoming the top seller of humanoid robots globally. It has also sold more than 33,000 four-legged robots cumulatively, further demonstrating its market reach. The company's rapid growth is backed by strong financial results. Revenue hit 1.7 billion yuan in 2025, a sharp increase from 393 million yuan the previous year.
Profitability is also rising, with a net profit of 278 million yuan in the last fiscal year. The company maintained a strong gross margin of over 60 percent, indicating efficient operations. Funds from the IPO will be used to develop AI models, conduct research into new humanoid robots, launch new products, and expand production. The company’s founder, Wang Xingxing, will maintain a strong presence, with him and his affiliated entities expected to own around 31.29 percent of the company after the offering.