Unitree Robotics, the Hangzhou-based company behind some of China’s most recognizable quadruped and humanoid robots, is gearing up for an IPO on the Shanghai Stock Exchange’s STAR Market. The listing would make it the first humanoid robot company to go public on mainland China’s exchanges, with a targeted valuation of roughly 61 billion yuan, or about $9 billion.
The company plans to raise approximately 6.1 billion yuan ($904 million) by issuing 40.45 million new shares priced at 150.8 yuan ($22.3) each.
From quadrupeds to a $9 billion valuation
Unitree, also known as Yushu Technology, has been on a tear. The company’s 2025 revenue hit approximately 1.7 billion yuan, quadrupling year-over-year. It shipped around 5,500 humanoid units during that period while maintaining gross margins of about 60%.
The IPO pricing was set during August 6-7, 2026, following what has been described as a record-fast regulatory review. Unitree’s application was accepted on March 20, 2026, and the entire review process wrapped up in just 104 days.
