Humanoid robots have spent years as a punchline, stumbling across stages at tech conferences while executives promised a revolution that kept not quite arriving. Unitree Robotics would like to change the conversation, and it plans to do so with a $904 million IPO on China’s A-share market.
The Hangzhou-based company has priced its offering at 150.80 yuan per share, targeting a raise of approximately 6.1 billion yuan. If the listing proceeds as planned, Unitree will become the first embodied-intelligence company to trade on the A-share market.
From dog-like bots to the global humanoid leader
CEO Wang Xingxing founded the company in 2016 with a focus on quadrupedal robots. Around 2023 and 2024, the company pivoted toward humanoid designs. In 2025, Unitree shipped over 5,500 humanoid robots, a figure that placed it at the top of the global rankings for the segment. Revenue grew 335% year-over-year.
The company now employs over 1,000 people.
