Unitree Robotics to Launch IPO in Shanghai as US-China Competition Intensifies

Unitree Robotics has announced plans to launch its initial public offering (IPO) on Shanghai's Star Market next week, marking a major financial milestone for the Chinese robotics company as global competition in humanoids and autonomous systems accelerates.

The Hangzhou-based enterprise plans to sell 40.45 million shares, representing approximately 10 percent of its enlarged share capital. Following the listing, founder Wang Xingxing and related parties will hold 31.29 percent of company shares and 65.31 percent of total voting rights.

Unitree will begin book-building on August 5 and set an offer price the following day, with final results scheduled for publication on August 14.

The public filing follows recent U.S. restrictions on foreign-made robots. Unitree stated in its updated IPO filing that its G1, H2, and R1 humanoids, alongside Go2, B2, and A2 quadrupeds, have received FCC certification, shielding those existing models from the new import ban.

The U.S. market accounted for 18.4 percent, 19.5 percent, and 13.3 percent of Unitree's revenue across 2023, 2024, and 2025, respectively. The company has also partnered with Nvidia on the Isaac GR00T humanoid model due later this year.

Unitree warned that further adverse U.S. trade or tariff measures could impact growth. The firm remains on a Pentagon list of Chinese military companies, restricting U.S. defense procurement.

Unitree reported revenue of 1.7 billion yuan last year with adjusted profits of 591 million yuan, demonstrating commercial profitability in a sector where many peers burn cash. By contrast, Hong Kong-listed UBTech generated 2 billion yuan in revenue but posted a 700 million yuan loss.

Unitree is one of several Chinese robotics developers pursuing public listings, with AgiBot preparing for a Hong Kong debut and Leju Robotics and Deep Robotics advancing listing applications in Shenzhen and Shanghai.