Chinese robotics startup Unitree Robotics has applied for an initial public offering on the Shanghai Stock Exchange, aiming to raise around 4.2 billion yuan (approx $610 million).
The move comes as investor interest in humanoid robots continues to rise.
The Hangzhou-based company plans to use the funds to improve its AI models, develop new robot products, and expand its manufacturing capacity.
Unitree has recently gained strong public attention in China. Its humanoid robots were featured in a major Spring Festival TV event, where they performed complex martial arts routines alongside human dancers, reports CNBC.
The IPO could become one of the largest tech listings in China in recent years, supported by government efforts to boost advanced industries like robotics, AI, and automation.
335% in revenue growth
Founder Wang Xingxing is firmly in control, with a 23.8 per cent direct equity stake and nearly 69 per cent of voting rights.
Financially, the company has seen rapid growth. Its revenue rose 335% in 2025 to reach 1.71 billion yuan, while net profit jumped sharply by over 600%.
Humanoid robots have become the main driver of this growth, contributing more than half of total revenue in 2025, up from around 28% the previous year.
However, a shift toward more affordable models has slightly reduced profit margins, as Unitree focuses on scaling production and adoption.
Currently, many of Unitree’s robots are used in areas like enterprise reception, guided tours, inspections, and light manufacturing tasks. Tour-guide applications alone make up a large portion of its business.
Unitree shipped more than 5,500 robots last year, capturing over 32% of the global humanoid robot market.
Unitree humanoid robots, specifically the G1 and H2 models, are being used to push the boundaries of AI-driven mobility and embodied AI, using martial arts as a primary test platform to demonstrate advanced balance, agility, and durability.
In early 2026, these robots were featured in public performances executing complex, coordinated martial arts routines (Kung Fu) in Beijing, showcasing their ability to handle dynamic movements and maintain stability
Who are Unitree Robotics’ shareholder?
External shareholders include Meituan, HongShan China (formerly Sequoia China), and Matrix Partners China, holding about 9.6%, 7.1%, and 5.5% respectively, according to the report.
Major tech companies like Tencent, Alibaba, Ant Group, Xiaomi, and ByteDance have also invested, along with firms like BYD and Geely, and state-backed funds from cities like Shanghai and Beijing.
