Chinese robot maker Unitree has priced its Shanghai initial public offering (IPO) at 150.8 yuan per share, with subscriptions set to begin on Monday. The company is aiming to raise 6.1 billion yuan (about $904 million). If completed as planned, Unitree would be the first humanoid robot manufacturer to list on China’s mainland market.
Unitree is a Hangzhou-based firm founded in 2016 by engineer Wang Xingxing. It initially built a customer and media following with relatively affordable quadruped robots, often described as “robot dogs,” and later drew wider attention for its humanoid models (including G1, H1 and R1) demonstrated performing tasks such as running, dancing and martial-arts moves. Multiple outlets frame the IPO as part of a broader push by Chinese humanoid robot makers to access public capital to scale research and development.
Reporting also highlights Unitree’s financial profile compared with peers: revenue rises sharply (fourfold to nearly 1.7 billion yuan in 2025) and the company reports adjusted net profit of about 600 million yuan. Sources further note that overseas revenue accounts for more than 40% of sales, indicating international demand.
One outlet emphasizes Unitree’s role as a “leading” example in an “IPO race” among robotics firms, while others focus on what the listing implies for funding future development and on Unitree’s business background in lower-cost robots before moving into humanoids.
