Unitree Robotics has received the green light from China’s securities regulator for an initial public offering in Shanghai, potentially setting a new valuation standard in the rapidly growing embodied AI sector. Following approval from the China Securities Regulatory Commission and a prior review by the Shanghai Stock Exchange’s listing committee, the Hangzhou-based company is preparing its underwriting plan, pricing, and share subscriptions for a possible debut as early as late July. Unitree aims to raise approximately 4.2 billion yuan (US$618.4 million) by offering at least 40.4 million shares, representing a minimum 10% stake and suggesting an initial valuation of around 42 billion yuan. The funds will be directed towards developing new robot models, conducting robot-body research, and expanding manufacturing capacity. Unlike many in the industry, Unitree is profitable, having generated 1.7 billion yuan in revenue and 591 million yuan in adjusted profit last year. In contrast, its competitor, UBTech Robotics, listed in Hong Kong, reported 2 billion yuan in revenue but suffered a net loss of about 700 million yuan, with a market capitalization of approximately HK$54.8 billion (US$6.9 billion) as of last Friday.
Will Unitree’s IPO set a new valuation benchmark in China’s robotics sector?
