China’s Unitree Robotics rides humanoid tide as it targets US$610m IPO
Prospectus reveals that company’s revenue jumped 335 per cent last year, while net profit surged nearly eight times
Unitree Robotics, a Hangzhou-based maker of quadruped and humanoid robots, has filed for an initial public offering (IPO) on Shanghai’s Star Market, seeking to raise 4.2 billion yuan (US$610 million) as revenue and profits surge on the back of rising interest in embodied artificial intelligence.
The listing application has been formally accepted by Shanghai’s exchange following a “preliminary review” on Friday.
The 10-year-old company recorded revenue of 1.71 billion yuan last year, up 335 per cent from a year earlier, while net profit on an adjusted basis rose nearly eight times to 600 million yuan, according to its prospectus published on Friday.
The IPO comes as embodied intelligence – the integration of AI with physical systems – becomes a global buzzword, particularly in China and the US.
Unitree said the listing would “strengthen capital resources and further enhance its end-to-end innovation capabilities and overall competitive edge in embodied intelligence”, with proceeds earmarked for developing robot bodies, AI models and manufacturing facilities.
Between 2022 and September 2025, Unitree shipped more than 30,000 quadruped robots, including enterprise and consumer-grade products. Over the same period, it delivered more than 4,000 humanoid robots, and the total for 2025 reached 5,500 units – ranking first globally, the company said, citing industry data.
Humanoid robots accounted for more than half of total revenue in the first nine months of last year, underscoring their growing importance to the business.