Unitree humanoid IPO values robot maker at about $9B
Unitree Robotics has priced its planned Shanghai initial public offering at 150.8 yuan (about $22.34) per share, valuing the Hangzhou based humanoid and quadruped robot maker at about 61 billion yuan (about $9.04 billion), according to VnExpress, citing a company filing and Reuters.
The Unitree humanoid IPO would make the company, also known as Yushu Technology, China’s first mainland listed humanoid robot manufacturer, according to the report. Forbes estimates that founder, chairman and CEO Wang Xingxing now has a fortune of $2.4 billion based on his ownership stake, making him China’s first humanoid robotics billionaire.
Key facts
- IPO price: 150.8 yuan per share, about $22.34
- Valuation: about 61 billion yuan, or about $9.04 billion
- Planned raise: 6.1 billion yuan, roughly $904 million
- Humanoid shipments: more than 5,500 units in 2025, according to the prospectus
- Quadruped shipments: more than 33,000 units sold between 2023 and 2025
Shipments give Unitree a rare public market story
Unitree plans to raise 6.1 billion yuan (roughly $904 million) through the listing, with Chinese AI startup DeepSeek named among strategic investors in the filing. The prospectus says proceeds will be used for new product development and improvements to software algorithms.
Founded by Wang in 2016 after a short period at DJI, Unitree has released more than a dozen products across quadruped robot dogs and humanoid robots. The company also supplies components including lidar sensors and dexterous robotic hands.
The most material figure in the filing is shipment volume. Unitree shipped more than 5,500 humanoid robots in 2025, described in the prospectus as the highest volume globally. For a sector where many companies still disclose pilots, reservations or demonstration videos rather than delivered robots, that makes Unitree one of the few humanoid companies entering public markets with meaningful unit volume on the record.
Wang flags models, components and regulatory risk
At an online investor meeting on Aug. 7, Wang said Unitree would keep working on embodied AI foundation models, scenario based data collection and analysis, reinforcement learning, robot foundation models, in house core components and high performance actuators, according to Global Times.
He also said the company is expanding its lineup across humanoid, quadruped and mecha robots, aiming for use in physically demanding and high risk environments. Unitree’s public profile rose sharply in early 2025 after its humanoids appeared at China’s Spring Festival Gala, where they demonstrated walking, running and martial arts movements.
Wang also addressed U.S. regulatory exposure after a question about recent Federal Communications Commission restrictions on advanced robotics equipment. He said Unitree had disclosed risks from trade tensions and regulatory measures in its prospectus and other filings, and said current humanoid and quadruped models have U.S. approvals while future models could face sales restrictions there.
The listing comes as several Chinese robotics startups, including Deep Robotics, Leju Robotics, AgiBot, X Square Robot and LimX Dynamics, prepare for public markets. CCTV News reported that China has more than 140 humanoid robot manufacturers, with annual humanoid shipments reaching 14,400 units and Chinese companies accounting for roughly 80% of global shipments.
Source: e.vnexpress.net
