China’s leading humanoid robotics company, Unitree Robotics, is preparing for an initial public offering (IPO) that could value the firm at 50 billion yuan ($7 billion), marking one of the largest technology listings in the country in recent years. The IPO is expected to test investor appetite for humanoid robots, a sector where China is positioning itself as a global frontrunner.
Founded in 2016 by Wang Xingxing, Unitree has rapidly evolved into one of China’s most high-profile startups. Its humanoid robots, capable of walking, climbing, and carrying loads, have gained visibility not only in research labs but also in entertainment and sports arenas across the country. Earlier this year, Unitree captured the national spotlight when its robots performed a synchronized dance during China Central Television’s Lunar New Year’s Eve Gala, an event watched by over one billion people.
Backed by China’s Tech Giants
Unitree’s growth trajectory has attracted some of China’s most powerful investors. Its June funding round brought in backing from Alibaba, Tencent, and Geely Holding Group, alongside more than 30 other investors. By July, the company’s valuation had reached 12 billion yuan, meaning its targeted IPO figure represents a sharp, rapid increase. Unitree has also confirmed that it is already profitable, with annual revenues surpassing 1 billion yuan.
The company began its formal IPO preparation process, known as “IPO tutoring”, in July with CITIC Securities as its guiding institution. Sources told Reuters that the listing is planned for the Shanghai STAR Market, China’s Nasdaq-style board dedicated to science and technology companies.
A Sector Aligned With National Strategy
China has been investing heavily in robotics and artificial intelligence, viewing these fields as strategic industries critical to addressing demographic challenges and competing in global technology markets. Unitree, alongside AI startup DeepSeek, was part of a select group of entrepreneurs invited to meet President Xi Jinping in February, signaling Beijing’s endorsement of the sector’s importance.
The company’s IPO also highlights how China’s self-sufficient manufacturing ecosystem, coupled with favorable local government subsidies, has enabled rapid scaling in advanced hardware industries like humanoid robotics.
Reviving China’s IPO Market
Unitree’s listing could also contribute to the revitalization of China’s IPO market, which had slowed under stricter regulatory reviews and stock market volatility. So far this year, onshore IPOs have raised around $7 billion, a 40% increase year-on-year, though still far below the levels seen between 2020 and 2023.
If successful, Unitree’s offering would be one of the biggest onshore tech IPOs in years, further supporting Beijing’s effort to keep its most promising “unicorns”, startups valued at over $1 billion, listed domestically rather than overseas.
Outlook
The IPO will serve as a barometer for investor confidence in the humanoid robotics industry, a field blending hardware, AI, and automation at a time when nations are racing to dominate frontier technologies. For Unitree, the challenge will be to sustain growth while scaling production and broadening applications for its humanoid robots.
With strong backing from both China’s tech giants and policy makers, Unitree’s IPO could not only solidify its leadership in humanoid robotics but also mark a milestone in China’s ambition to lead the global robotics race.