Unitree Robotics opened subscriptions for an initial public offering on the Shanghai Stock Exchange STAR Market on Monday [2, 3].
The move marks a significant milestone for the industry as Unitree seeks to become the first publicly listed humanoid robot company in China. The capital injection is intended to accelerate the development of humanoid robot technology at a time when China holds a dominant position in the sector.
Based in Hangzhou, Unitree is pursuing a raise that sources said varies between $619 million [2] and $900 million [1]. The lower figure of $619 million, or 4.2 billion yuan, was the amount for which the company previously won approval [2].
Investor interest in the offering has been substantial. Retail investors have oversubscribed the IPO by more than 8,000 times [3]. Following the pricing of the IPO, the company's valuation is estimated to be nearly $9 billion [4].
The company enters the public market while China maintains a commanding lead in the global humanoid robot market. Last year, China accounted for around 90 percent of global humanoid robot sales [1].
Unitree intends to use the funds to expand its humanoid robot business. The company already produces both four-legged and humanoid models, positioning itself to scale production as the demand for automated labor increases across various industries.
“Unitree seeks to become the first publicly listed humanoid robot company in China.”
The scale of the oversubscription and the nearly $9 billion valuation indicate a high level of investor confidence in the commercial viability of humanoid robots. By transitioning to a public company, Unitree is attempting to solidify China's existing 90 percent market share and create a financial blueprint for other robotics firms in the region to scale their hardware production.
