Unitree Robotics, the ten-year-old Hangzhou-based maker of quadruped and humanoid robots, has filed to list on Shanghai's Star Market at a target raise of 4.2 billion yuan ($610 million), with the exchange formally accepting the application after a preliminary review on Friday.
The company's financials underscore the pace of demand for embodied AI hardware. Revenue reached 1.71 billion yuan in 2025, a 335% increase on the prior year, with profits also rising according to the filing.
Unitree has become one of the more visible names in the humanoid robotics space, with its machines regularly appearing in demonstrations by Chinese technology companies and at state-level showcases. The Star Market, Shanghai's Nasdaq-style board for high-technology companies, has become the preferred venue for Chinese robotics and AI listings.
The IPO will serve as an early test of how public market investors price pure-play humanoid robotics businesses, a sector that has attracted substantial venture capital but limited listed comparables globally.
