Unitree Set to Launch STAR Market IPO in Shanghai at About 42 Billion Yuan

Unitree Robotics, a maker of humanoid and quadruped robots, is set to list on the STAR Market of the Shanghai Stock Exchange. According to disclosures, the company plans to issue 40.45 million new shares, about 10 percent of its expanded share capital, aiming to raise around 4.202 billion yuan, with an overall valuation of about 42 billion yuan, or roughly 5.7 billion US dollars. It would mark another landmark moment for China's robotics industry.

The listing timeline

Under the schedule, Unitree's preliminary pricing began on July 31, online and institutional subscriptions are set for August 10, and payment is due on August 12. The company, headquartered in Hangzhou, Zhejiang province, is one of China's representative players in embodied AI.

On capacity, the manufacturing base the company has planned could produce up to 75,000 humanoid robots and 115,000 quadruped robots a year. About 90 percent of its supply chain is domestically sourced, pointing to strong local support.

A milestone for the industry

Wang Peng, a researcher at the Beijing Academy of Social Sciences, said the significance of Unitree's listing goes beyond the company itself and would be a milestone for China's embodied AI industry. Voices from the Ministry of Science and Technology noted that the real challenge is turning technical strength into a sustainable commercial advantage against international rivals such as Boston Dynamics.

On the market landscape, there were about 300 humanoid robotics companies worldwide in 2025, with global shipments of roughly 17,000 units, of which China accounted for about 84.7 percent. CCB International estimates Unitree's valuation could climb further to 109 billion yuan. Whatever the final price, the listing is seen as a signal of an industry moving from prototypes to mass production and from concept to commercialization.