Unitree, a Hangzhou-based humanoid robot maker, is seeking to raise 4.2 billion yuan (about US$620-621 million) through an initial public offering on Shanghai’s STAR Market by offering at least 40.4 million shares, representing a minimum 10% stake [1, 2].
The company filed for the IPO on March 20, 2026, and after completing two rounds of regulatory inquiry and an onsite inspection, it cleared the hearing approval stage. The IPO now awaits registration and issuance by the Shanghai exchange [1].
Unitree reported revenue of 1.7 billion yuan and net profit of 590.8 million yuan in 2025, the highest profit level among China's humanoid robot companies [1]. Its flagship model, the H2 humanoid robot, stands nearly 6 feet tall, weighs roughly 150 pounds, and features 31 degrees of freedom on the robot and 25 degrees on each hand, with mechanical hands made by Singapore-based Sharpa [2].
The H2 integrates Nvidia’s Jetson Thor hardware and Blackwell GPU, delivering advanced on-device AI capabilities. Nvidia CEO Jensen Huang said, "Today, we're announcing the Nvidia Isaac Root, a reference humanoid robot, all fully integrated... 25 degrees of freedom on each hand made by Sharpa, 31 degrees of freedom on the robot, six feet 150 pounds, just like me." He added, "This platform runs the new Thor, and our entire software stack... all integrated into a robot that is designed for everyone to use" [2].
Nvidia also unveiled the Isaac GR00T AI models and simulation systems to support research using the H2 platform. Rev Lebaredian, Nvidia VP of physical AI simulation, said the technology is "taking frontier humanoid research out of the hands of only the world's largest tech companies and AI unicorns, and putting it in reach of every lab" [2].
Unitree noted more than 40% of its revenue comes from markets outside China [2]. It plans to release an upgraded H2 Plus humanoid robot for purchase in October 2026. At least four research institutions including Ai2 in Seattle, ETH Zurich, and Stanford University have committed to using the H2 Plus [2].
Unitree joins other Chinese robotics firms pursuing IPOs on domestic exchanges, including Dobot, Leju Robotics, and Deep Robotics [1]. Morgan Stanley’s Zhong Sheng said, "The humanoid IPO wave will raise market interest in robotics equities" [1].
The Shanghai exchange scheduled a review of Unitree's IPO application on August 17. Final IPO registration and issuance decisions are pending, with the company advancing its plans to expand market reach and product offerings in humanoid robotics [2].
