Unitree Robotics has priced its initial public offering on Shanghai’s STAR Market at 150.80 yuan per share, valuing the Hangzhou-based company at approximately 62.4 billion yuan, or about $8.7 billion. The public float aims to raise 6.1 billion yuan, marking a milestone as mainland China’s first humanoid stock amid intense competition and rising geopolitical scrutiny.
The long-awaited public debut of Unitree Robotics has moved from planning to execution according to a filing released Thursday evening. The company priced its initial public offering on Shanghai’s STAR Market at 150.80 yuan per share. The valuation eclipses earlier estimates that ranged from roughly $6 billion to $7 billion, positioning the firm at an implied valuation of approximately 62.4 billion yuan, or about $8.7 billion, with some international reports valuing the company as high as US$9 billion.
Strategic Placement Investors and the DeepSeek Partnership
The offering features significant backing from high-profile technology and state-backed entities. Artificial intelligence unicorn DeepSeek joined the strategic placement through its parent company, Hangzhou DeepSeek Artificial Intelligence Basic Technology Research Co. DeepSeek was allocated 933,400 shares with an allocation amount of 141 million yuan, bound by a three-year lock-up period.
Beyond taking a financial stake, the two companies agreed to co-develop AI models and embodied-intelligence technology. Unitree noted that the partnership would give both firms priority access in areas such as robot procurement and AI model services. According to filings cited by globaltimes.cn, nine investors participated in the strategic placement, including Tencent, PetroChina, and China Southern Power Grid Co., alongside state-backed entities like the National Council for Social Security Fund.
Financial Growth and Manufacturing Ambitions
Unitree plans to issue approximately 40.45 million new shares to raise 6.1 billion yuan, exceeding an initial 4.2 billion yuan target. Subscription for the offering starts on August 10, with payment due by August 12. The newly issued shares represent 10 percent of the company’s enlarged share capital after the offering.
The proceeds are earmarked for a broad expansion of the company’s manufacturing and research footprint. Planned investments include 2.02 billion yuan for intelligent robot model research and development, 1.11 billion yuan for robot body development, and 624 million yuan for a new manufacturing base.
The financial backing arrives as Unitree experiences rapid revenue acceleration. Humanoid robots contributed just 1.88 percent of the company’s revenue in 2023, but by 2025 that category generated 868 million yuan and accounted for more than half of total revenue. Unitree shipped more than 5,500 humanoid robots in 2025, reporting total revenue of 1.7 billion yuan and an adjusted net profit of approximately 590 million yuan. For the first half of 2026, the company projected revenue growth of between 35.62 percent and 45.41 percent year over year.
Disruptive Pricing and the Global Robotics Landscape
Unitree built its market presence by undercutting Western competitors, pricing quadrupeds and humanoids far below traditional lab equipment costs. That affordability moved advanced robots out of research laboratories and into universities, developer communities, and commercial settings.
Omdia chief analyst Lian Jye Su observed that Unitree is one of the world’s leading vendors in mobile robots and it will likely be a top player in the humanoid robotics sector,
according to his assessment reported by CNBC. Domestically, the company faces competition from rivals such as Agibot and Galbot, with corporate buyers including BYD deploying humanoid robots in manufacturing showrooms and production lines.
Geopolitical Headwinds and Regulatory Scrutiny
While Chinese investors celebrate the offering as a benchmark for the domestic embodied-AI sector, international markets present a contrasting regulatory environment. As reported by eWeek, the United States Federal Communications Commission has adopted new restrictions adding qualifying foreign-produced connected mobile robots to its Covered List, complicating future market entry in North America.
The regulatory friction highlights a split-screen reality for the industry. Domestic stakeholders treat the public float as a strategic win under Beijing’s push for technological self-reliance, while Western regulators scrutinize connected robotic systems over cybersecurity and national security concerns.
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