Unitree set for Shanghai listing after $905 million IPO raise

Unitree is set to list in Shanghai on Wednesday after an initial public offering that CNN reports raised 6.1 billion yuan ($905 million) and was more than 8,000 times oversubscribed. The market debut would make the Hangzhou-based company the first mainland China-listed humanoid robot maker. Its prospectus says proceeds will fund embodied-AI and robot-hardware research and factory expansion. Unitree reported nearly 1.7 billion yuan in 2025 revenue and 278 million yuan in net profit, but industrial deployments were under 10% of sales in the first three quarters of 2025.