An intelligent robot demonstrates Chinese calligraphy skills at a park in Hangzhou, Zhejiang province, in East China. DONG XUMING/FOR CHINA DAILY
Chinese humanoid robot maker Unitree Robotics has received regulatory approval to proceed with its initial public offering, clearing the final hurdle to become China's first publicly listed humanoid robotics company.
The China Securities Regulatory Commission approved on Thursday Unitree's registration for its IPO on Shanghai's STAR Market, allowing the company to launch investor bookbuilding and share issuance within the next 12 months after completing the country's listing review process.
The approval came just 104 days after the IPO application was accepted on March 20, with the company passing its listing hearing in 73 days, marking the fastest review under the STAR Market's pre-review mechanism.
Unitree plans to raise 4.202 billion yuan ($619.8 million) to expand production of humanoid robots, strengthen embodied artificial intelligence research and development, and build new manufacturing facilities.
