Unitree Robotics, one of China’s most high-profile startups, is preparing for an initial public offering that could value the company at up to 50 billion yuan ($7 billion), according to people familiar with the plans.
The company gained global attention last year after videos of its robots performing human-like tasks such as walking, climbing and carrying loads went viral. Its founder, Wang Xingxing, was among the select tech executives who met President Xi Jinping in February, a meeting seen as a sign of Beijing’s stronger support for the technology sector.
China is pouring billions into robotics, semiconductors and artificial intelligence as it faces an ageing population and growing competition with the United States in advanced technologies. The popularity of startups like Unitree and AI firm DeepSeek reflects this push.
Unitree recently announced on its X account that it is actively moving forward with IPO preparations and plans to file listing documents in the fourth quarter. If successful, the IPO would be one of the largest tech listings in China in recent years and would strengthen Beijing’s efforts to fund its technology champions through domestic markets.
Chinese stock exchanges are slowly reviving after a regulatory crackdown and market volatility had stalled listings for nearly two years. Onshore IPO proceeds have reached $7 billion so far this year, a 40 percent rise from last year but still far below the levels seen between 2020 and 2023.
Unitree, which holds unicorn status with a valuation above $1 billion, plans to list on Shanghai’s STAR Market. In its June funding round, the company secured backing from major investors, including Alibaba, Tencent and Geely Holding Group. While Geely confirmed its investment, the other companies have not commented on the IPO plans.
Industry observers say Unitree’s IPO will be a test of investor appetite for humanoid robots, a field China is well positioned to dominate due to strong supply chains and government subsidies. The firm’s expected valuation marks a sharp rise from its 12 billion yuan value during its last funding round in July.
Founded in 2016, Unitree is already profitable and reports annual revenue above 1 billion yuan. Its robots are widely used by Chinese universities, research institutions and entertainment events. The company began its IPO tutoring process in July with CITIC Securities as its advisor.
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