China’s leading robotics firm Unitree Robotics has taken a pivotal step toward going public, with the Shanghai Stock Exchange (SSE) accepting its application for an initial public offering (IPO) on the STAR Market on the evening of March 20. The company is seeking to raise approximately 4.202 billion yuan ($586 million) in the offering, aiming to cement its position as the first publicly listed pure-play humanoid robotics enterprise in China’s A-share market.
Financial and Operational Milestones in 2025
Unitree’s prospectus filings reveal a period of explosive growth in 2025, underpinned by surging demand for its humanoid and quadruped robots. The company reported 1.708 billion yuan in annual revenue, a staggering 335.36% year-over-year increase, and a non-recurring profit after tax of 600 million yuan—up 674.29% from the prior year. Company officials attribute the sharp financial gains to record sales volumes of its core robotic platforms, a sign of accelerating adoption in industrial and commercial sectors.
In the first nine months of 2025, humanoid robotics emerged as Unitree’s largest revenue driver, accounting for 51.53% of total core business income, with quadruped robots contributing 42.25%. The split underscores a strategic shift toward humanoid systems, which the firm has identified as its primary growth engine for the next five years.
IPO Preparation and Corporate Restructuring
Unitree’s march to the public markets began in mid-2025, when it completed IPO tutoring registration with CITIC Securities in July, formalizing its listing roadmap. The company streamlined its corporate structure in October by rebranding from Hangzhou Unitree Robotics Co., Ltd. to the simplified Unitree Robotics Co., Ltd., a move designed to align with its national and global expansion goals. It wrapped up all mandatory IPO tutoring requirements in November 2025, clearing the final pre-application hurdles.
Product Line Expansion and Mass Production Breakthroughs
Parallel to its IPO push, Unitree has aggressively expanded its robotic product portfolio and scaled manufacturing capacity—key pillars of its growth story for investors. In July 2025, the firm launched the Unitree R1, a new bipedal humanoid robot with a starting price of just 39,900 yuan ($5,500), a landmark price point that significantly lowers the barrier to entry for small and medium-sized enterprises (SMEs) looking to adopt humanoid automation.
The company followed with the Unitree H2 in October, an upgraded version of its H-series general-purpose humanoid robot, boasting improved mobility, payload capacity and scenario adaptability for industrial use cases. In November, it unveiled the G1-D, a wheeled humanoid robot purpose-built for data collection in unstructured environments, expanding its reach beyond traditional industrial automation.
These product launches have translated into tangible sales success: Unitree reported over 5,500 units of pure humanoid robots shipped in 2025, with total mass-produced units rolling off production lines exceeding 6,500. Critically, these figures exclude wheeled humanoid and dual-arm robotic models, highlighting the standalone demand for the company’s bipedal humanoid platforms.
A Defining Moment for China’s Humanoid Robotics Sector
Unitree’s IPO bid comes at a transformative time for the global humanoid robotics industry, as players like Boston Dynamics (valued at $20 billion and eyeing a 2027 IPO) and Silicon Valley’s RoboForce scale their commercial efforts. For China, Unitree’s potential listing would mark the first major A-share IPO for a humanoid robotics specialist, a milestone that could unlock more capital for the country’s domestic robotics ecosystem and accelerate industrial deployment of embodied intelligence technologies.
The company’s filing also reflects broader trends in China’s robotics sector, where policy support for advanced manufacturing and AI-driven automation has spurred rapid innovation and scaling. With its IPO proceeds, Unitree plans to invest in R&D for next-generation humanoid robots, expand manufacturing capacity and build out global sales and service networks, according to preliminary prospectus details.
The SSE is expected to review Unitree’s IPO application in the coming months, with a potential listing as early as late 2026.
