Hangzhou-based Unitree Robotics has filed for an IPO on Shanghai’s Star Market, aiming to raise 4.2 billion yuan (US$610 million) amid surging interest in embodied AI. The company’s revenue jumped 335 per cent last year to 1.71 billion yuan, with adjusted net profit rising nearly eight times to 600 million yuan.
Unitree Robotics, a Hangzhou-based maker of quadruped and humanoid robots, has filed for an initial public offering (IPO) on Shanghai’s Star Market, seeking to raise 4.2 billion yuan (US$610 million) as revenue and profits surge on rising interest in embodied artificial intelligence. The listing application was formally accepted by Shanghai’s exchange following a “preliminary review” on Friday, with the prospectus published on the same day. The 10-year-old company recorded revenue of 1.71 billion yuan last year, up 335 per cent from a year earlier, while adjusted net profit rose nearly eight times to 600 million yuan. Unitree said the listing would “strengthen capital resources and further enhance its end-to-end innovation capabilities and overall competitive edge in embodied intelligence”, with proceeds earmarked for developing robot bodies, AI models and manufacturing facilities. Between 2022 and September 2025, Unitree shipped more than 30,000 quadruped robots, including enterprise and consumer-grade products. Over the same period, it delivered more than 4,000 humanoid robots, with 2025 totals reaching 5,500 units – ranking first globally, the company said, citing industry data. Humanoid robots accounted for more than half of total revenue in the first nine months of last year, underscoring their growing importance to the business. The IPO comes as embodied intelligence – the integration of AI with physical systems – becomes a global buzzword, particularly in China and the US.
