Unitree, a leading Chinese humanoid robotics company, is expected to have a highly successful initial public offering (IPO).
On August 6, Unitree announced that it has set its IPO price at 150.80 yuan per share, according to a report by the China Securities Journal on August 7. Based on this price, Unitree's current market capitalization stands at 60.9 billion yuan (approximately $12.8 billion). The company plans to issue 40.44 million new shares, aiming to raise a total of 6.1 billion yuan, with most of the funds earmarked for research and development and expanding production capacity.
Unitree allocated 8.08 million shares to strategic investors, 25.88 million shares to institutional investors, and 6.47 million shares to individual investors. Notable strategic investors include major state-owned enterprises such as the China Social Security Fund, PetroChina, State Grid, and China Telecom. Additionally, 313 institutional investors applied for subscriptions, with total subscription requests reaching 6.7 billion shares, resulting in an astonishing subscription rate of 2,618 times.
According to Chinese media outlet Zhongcaiwang, "Although the offering price is set quite high, the competition among institutional investors has exceeded expectations," adding that "with a limited number of shares available for trading, market supply and demand will be very tight on the first day of trading." Unitree is set to officially list on the Shanghai Stock Exchange's STAR Market on August 14.
Unitree is recognized as a leading humanoid robotics company in China, possessing core technologies in robot bodies, motion control algorithms, and large language models (LLMs). The company also develops and produces over 90% of its key components, including electric motors, reducers, and controllers, in-house.
Last year, Unitree ranked first in global humanoid robot shipments, reporting revenues of 1.7 billion yuan and a net profit of 600 million yuan. The industry views Unitree as one of the few humanoid companies that have achieved both mass production and profitability.
Founded in 2016 by Wang Xingxing, a 1990-born entrepreneur from Zhejiang Province, Unitree is headquartered in Hangzhou, Zhejiang. Wang has stated, "We will bring robots into ordinary households, and today's robots are at the same stage as PCs were 30 years ago."
* This article has been translated by AI.
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