Unitree Robotics has cleared the Shanghai Stock Exchange's STAR Market listing review, clearing the path to become the first pure-play "embodied artificial intelligence" company to list on China's A-share market. The company is targeting a valuation of roughly 42 billion yuan ($6.2 billion).
A fast-tracked listing
The STAR Market listing committee approved Unitree's application just 73 days after the exchange formally accepted its filing on March 20, leveraging a pre-review mechanism reserved for priority "hard-tech" sectors. Unitree plans to raise about 4.2 billion yuan ($620 million) to fund intelligent-robot model research, hardware development, new-product innovation and a smart-manufacturing base.
Humanoids drive the numbers
Unitree posted revenue of 1.17 billion yuan over the first nine months of 2025 with net profit of 105 million yuan, and humanoid robots became its largest revenue source at 51.5% of sales. The company, known for its agile quadrupeds and full-size humanoids, has gained mass recognition after televised performances on China's Lunar New Year gala.
China's embodied-AI listing wave
The approval is a milestone for China's robotics sector and adds to a global IPO thaw that includes Japan's GO Inc. debut. It also caps a strong run for Chinese humanoid makers scaling production, from UBTECH's Walker S2 to AGIBOT's GO-2 foundation model, while Western rivals such as Sanctuary AI push physical-AI benchmarks.
Reporting based on coverage from Caixin Global and CGTN.