Unitree Robotics has set a schedule for its Shanghai IPO. According to the filing, subscriptions will open on August 10 at a valuation of some 42 billion yuan, or $5.7 billion, for the Hangzhou robot maker.
The company would become the first major producer of humanoid robots to be listed on the Chinese mainland, providing investors with a public yardstick for an embodied AI sector that until now has run on venture money and demo-day theatrics.
Unitree prices the deal and turns a rare profit
The preliminary price consultations start Wednesday, online and institutional subscriptions open August 10, and payment is due August 12.
Unitree is looking to raise 4.202 billion yuan, or $618 million, by floating 40.45 million new shares, a stake representing 10% of its enlarged share capital, on the STAR Market of the Shanghai Stock Exchange. That target implies a valuation of ~42 billion yuan, although the final number is determined through book building.
The path opened in early July when the China Securities Regulatory Commission approved Unitree’s registration, Cryptopolitan reported at the time.
Most competitors aren’t profitable, but Unitree is. As previously covered by Cryptopolitan, the company booked 1.7 billion yuan, or $250 million, in revenue for 2025 and 591 million yuan, or $87 million, in adjusted profit.
Revenue rose from 159 million yuan in 2023 to 393 million yuan in 2024, then jumped about fourfold last year, and net profit jumped 674% year over year. Sales were driven by humanoids, which accounted for more than half of sales in the first nine months of 2025.
UBTech Robotics, a rival listed in Hong Kong, had revenue of 2 billion yuan in the same period but fell to a net loss of ~700 million yuan.
Unitree’s factory plans meet Nvidia and Washington
Unitree will use the money raised from the prospectus to develop robot “brains,” research on robot bodies, new products, and a manufacturing base to produce 75,000 humanoid robots and 115,000 quadruped robots a year.
About 90% of Unitree’s supply chain is in China, a cost lever that also accelerates iteration. The firm thinks the stock may be worth up to 109 billion yuan on the secondary market eventually.
Nvidia has chosen the Unitree’s G1 humanoid as the foundation for its Isaac GR00T research platform, which combines the robot with Nvidia’s Jetson Thor computer and is being tested at Stanford, UC San Diego, and ETH Zurich.
Cryptopolitan reported that Japan Airlines started a three-year experiment with two Unitree robots in May 2026 at Tokyo’s Haneda Airport to handle baggage and cabin work.
US lawmakers questioned Unitree about alleged ties to the Chinese government and proposed restrictions on its use in federally funded research.
Wang Peng, a senior researcher at the Beijing Academy of Social Sciences, called this “a milestone for China’s embodied AI industry” that could change the way the sector is valued. China already dominates the manufacturing side of the industry, building 84.7% of the ~17,000 humanoid robots shipped worldwide in 2025.