China’s Unitree Robotics, a high-profile robotics unicorn based in Hangzhou, is planning an initial public offering (IPO) with a target valuation of up to 50 billion yuan ($7 billion), according to sources familiar with the company’s plans.
Unitree gained global attention last year with videos showcasing robots capable of human-like mobility—walking, climbing, and carrying loads. Its innovative designs have captured the imagination of both consumers and investors, positioning Unitree as a leader in China’s fast-growing robotics sector.
The company’s founder, Wang Xingxing, along with executives from AI startup DeepSeek, attended a rare meeting with President Xi Jinping in February, signaling Beijing’s support for technology innovation and advanced manufacturing.
Unitree is preparing to file its IPO listing documents in Q4 2025, with plans to list on Shanghai’s STAR Market, a technology-focused exchange. If successful, the IPO would be one of the largest onshore tech listings in recent years and a major milestone for China’s robotics industry.
The IPO comes amid a gradual revival of China’s equity markets, with onshore IPO proceeds reaching $7 billion in 2025, up 40% year-on-year, following a nearly two-year pause due to tighter regulatory scrutiny.
Unitree has over 30 investors, including tech giants Alibaba, Tencent, and automaker Geely Holding Group, and reported annual revenue exceeding 1 billion yuan as of June. Its profitability, market position, and unicorn status make it a key test case for investor appetite in humanoid robotics—a frontier industry where China holds significant competitive advantages.
The IPO valuation target of 50 billion yuan marks a substantial increase from the company’s last fundraising round in July, when it was valued at 12 billion yuan, reflecting the market’s confidence in Unitree’s growth potential and the sector’s outlook.
Founded in 2016, Unitree has become a preferred choice for universities researching robotics, as well as a familiar presence in entertainment and sporting events across China. Its IPO will not only raise capital for further expansion but also cement China’s leadership in the global humanoid robotics market.