Hangzhou-based Unitree Robotics, a Chinese developer of humanoid and quadruped robots, passed review for its initial public offering application on Shanghai’s STAR Market on June 1, the Shanghai Stock Exchange said.

The company plans to raise 4.2 billion yuan (US$621 million) for research and development, new products, and a manufacturing base.

Its prospectus said revenue rose from 159 million yuan (US$23.5 million) in 2023 to 393 million yuan (US$58.1 million) in 2024 and nearly 1.7 billion yuan (US$251 million) in 2025.

It projected first-half 2026 revenue of 1.1 billion yuan (US$156 million) to 1.1 billion yuan (US$167 million), and net profit attributable to shareholders of the parent company, excluding non-recurring gains and losses, of 236 million yuan (US$34.9 million) to 283 million yuan (US$41.8 million).

Unitree was the second company to file an IPO application under a STAR Market pilot pre-review mechanism for technology companies.

Under the mechanism, the exchange can review listing materials before formal submission and speed up the later process.

For comparison, listed peer UBTECH reported 2 billion yuan (US$297 million) in 2025 revenue and a 790 million yuan (US$117 million) net loss.

Full-size embodied AI humanoid robots and related solutions became its largest revenue stream.

🔗 Source: Xinhua

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