Unitree Robotics, a Hangzhou-based company, is preparing to list on the Shanghai Stock Exchange’s STAR Market with a valuation of approximately 61 billion yuan ($9 billion). The firm, which would become the first humanoid robotics company listed on mainland China’s exchanges, plans to raise roughly 6.1 billion yuan ($904 million) by issuing 40.45 million new shares. In 2025, Unitree generated revenue of approximately 1.7 billion yuan, quadrupling year-over-year, while shipping around 5,500 humanoid units and maintaining gross margins of about 60%. Founder Wang Xingxing retains 23.8% equity and approximately 69% of voting rights, with IPO proceeds earmarked for AI model training, new product development, and expanding manufacturing capacity.
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