Gasgoo Munich- On July 2, the China Securities Regulatory Commission (CSRC) published an approval document on its website, formally granting Unitree Technology Co., Ltd. registration for its initial public offering on the STAR Market. The approval moves Unitree a step closer to becoming the A-share market’s first “humanoid robot stock.”
The approval document stipulates that Unitree must proceed strictly in accordance with the prospectus and underwriting plan submitted to the Shanghai Stock Exchange (SSE). The registration approval is valid for 12 months, and the company is required to report any significant events to the exchange immediately should they occur between issuance and listing.
Just weeks earlier, in early June, Unitree’s STAR Market IPO application passed review by the SSE Listing Committee—setting a record for the fastest approval since the bourse’s pre-review mechanism was implemented.
Image source: Unitree Technology
According to the prospectus, Unitree plans to issue at least 40.45 million shares to raise 4.202 billion yuan. Based on a public offering ratio of no less than 10%, the company’s overall valuation is estimated at approximately 42 billion yuan.
Proceeds from the IPO will be allocated to four major projects: intelligent robot model R&D, robot body development, new intelligent robot product development, and the construction of a manufacturing base. Notably, nearly half of the funds are dedicated to overcoming core technical challenges in embodied intelligence models.
In 2025, Unitree shipped over 5,500 humanoid robots, ranking first globally, while cumulative sales of quadruped robots exceeded 33,000 units, with overseas revenue consistently accounting for over 40% of the total. During the same period, annual revenue reached 1.699 billion yuan, and the gross margin for core business hit 60.13%. Unitree is one of the few hardware manufacturers in the industry to achieve profitability at scale, with products applied across diverse scenarios such as industrial inspection, emergency rescue, and commercial services.
Industry analysts believe that as Unitree completes its listing, capital markets are poised to provide more substantial long-term funding for humanoid robotics enterprises. This could accelerate the shift of domestic robots from technical prototypes to large-scale commercial application—and potentially speed up the replacement of imported upstream core components like reducers and servo motors with domestic alternatives.
