(ECNS) - Chinese humanoid robot maker Unitree Robotics has cleared a key hurdle toward a stock market debut after its initial public offering application was approved by the Shanghai Stock Exchange's STAR Market listing committee, the exchange said Monday.
The approval came just 73 days after the exchange accepted Unitree's IPO application on March 20, making it the fastest IPO review completed in China so far this year.
Unitree plans to raise 4.2 billion yuan ($584 million), according to its prospectus. Based on a planned public float of at least 10%, the fundraising target implies a valuation of about 42 billion yuan.
Founded in 2016 by Wang Xingxing, a post-90s entrepreneur, the Hangzhou-based company develops quadruped and humanoid robots, as well as robotic components. Humanoid robots have become the fastest-growing segment of the robotics industry.
Unitree's prospectus shows revenue rising from 159 million yuan in 2023 to 1.7 billion yuan in 2025, while net profit swung from a loss of 11 million yuan in 2023 to a profit of 278 million yuan in 2025.
The company said shipments of its humanoid robots exceeded 5,500 units in 2025, ranking first globally.
Unitree is one of the few profitable companies in China's rapidly expanding embodied AI and robotics sector.
Its swift progress toward listing is expected to be closely watched by investors as several domestic robotics startups pursue public market financing.
(By Zhang Jiahao)
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