Unitree Could Be Worth Over 50 Billion Yuan After Shanghai IPO, Citic Says

Unitree, a Chinese robot maker, is expected to be valued at more than 50 billion yuan ($7.4 billion) after its planned initial public offering in Shanghai, according to a valuation report from its IPO sponsor, Citic Securities.

The Hangzhou-based company, legally registered as Hangzhou Yushu Technology Co., Ltd., competes with Tesla and Boston Dynamics in the humanoid robot space and aims to raise 4.2 billion yuan to fund innovation and production expansion.

Citic Securities' report, distributed to investors and seen by Reuters, estimates Unitree could be worth between 50.6 billion to 55.9 billion yuan within six to 12 months after its listing later this month. This valuation is roughly 20 times this year's expected sales and about 80 times forecast earnings.

The IPO comes amid heightened technological rivalry between China and the United States. In June, the U.S. added Unitree to a list of companies it believes are aiding Beijing's military. Washington has also recently added foreign-made advanced robots to its Covered List, restricting their ability to obtain U.S. sales authorization.

Citic Securities described Unitree, which also produces quadruped robots, as “a globally-renowned, world-leading maker of high-performance, general purpose robotics,” highlighting its prudent R&D investment strategy and leading position in the embodied intelligence ecosystem.

Unitree will set its IPO price on Thursday and accept investor subscriptions on Friday, marking a significant milestone for the company and China's strategic robotics sector.