Unitree Robotics is accelerating its initial public offering on the Shanghai Stock Exchange's tech-focused Star Market, targeting a valuation of about 42 billion yuan (US$6.2 billion) [1, 2, 3]. The Shanghai Stock Exchange’s listing committee is scheduled to review Unitree’s IPO application on June 1, 2026 [1, 2, 3].
The company formally submitted its IPO application in March 2026 and recently saw its application accepted by the exchange, signaling rapid progress [2, 3]. The announcement of the IPO review date on May 25 triggered increased stock buying by Unitree’s pre-IPO investors and supply chain partners like Shanghai Dazhong Public Utilities, Beijing Capital Development, and Kingfa Science & Technology [1].
Founded initially to build quadrupedal robot dogs, Unitree launched its first humanoid robot in 2023. Humanoid robots now represent the company’s main growth driver, accounting for 51.5% of revenue in the first nine months of 2025, surpassing quadrupedal robots at 42.2% [2, 3]. Unitree’s revenue surged to 1.17 billion yuan in the first nine months of 2025, up sharply from 392 million yuan for all of 2024, a year in which the company also turned profitable [2, 3].
The humanoid robotics industry in China is transitioning from technological breakthroughs to scaled commercialization. Cai Zilin, analyst at Wanlian Securities, said, "With policy support and the AI large models, humanoid robots are expected to become an emerging industry with huge potential. The year of 2026 is a critical window to corroborate mass production and adoption" [1].
Investment in Chinese embodied AI startups reached 57.7 billion yuan in the first five months of 2026, exceeding the total for 2025, highlighting growing investor interest in the sector [2, 3]. An unnamed investment banker noted, "Unitree’s accelerated IPO is not surprising. There is a limited supply of AI-related targets in the A-share market, and embodied AI is currently the absolute hot spot" [2].
Unitree’s IPO review by the Shanghai Stock Exchange on June 1 marks a key milestone in its plan to raise capital and expand its presence in the AI robotics market [1, 2, 3].
