Hangzhou-based Unitree Robotics, which makes robot dogs and humanoid robots, priced its initial public offering on Shanghai’s Star Market at 150.8 yuan (US$22) a share on August 6.

The deal values the company at 61 billion yuan, or about US$9 billion, and will raise 6.1 billion yuan (US$904 million) through the sale of 40.45 million new shares.

Backers in the strategic placement include Tencent Holdings and DeepSeek.

DeepSeek invested 141 million yuan (US$20.9 million) and is subject to a three-year lock-up period.

Unitree said it and DeepSeek will jointly develop AI models and embodied-intelligence technology.

The two companies will also give each other priority access in areas including robot procurement and AI model services.

Leap VC founder Zheng Hualiang said Unitree’s listing could become a valuation benchmark for other embodied AI companies.

🔗 Source: South China Morning Post

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