BRIEF: Unitree aims to complete IPO by mid-2026

Hangzhou Unitree Robotics’ IPO process is proceeding on track, with a listing on one of China’s domestic A-share markets expected between April and June, Caixin reported on Monday, citing a person familiar with the matter. The company has denied media reports saying its access to an IPO “green channel” had been revoked, saying it had never applied for the fast-track mechanism.

The source said rumors about a green channel application had been circulating for one to two months. However, Unitree does not qualify for such treatment, as the humanoid robots it manufactures are not classified as a “chokepoint” technology. The company also already meets standard profitability requirements for a listing, making special policy support unnecessary. Unitree is the first robotics company in China to formally initiate a domestic IPO, having completed its listing tutoring in November last year, a key step required before a company can list.

Founded in 2016, Unitree initially focused on quadruped robots and captured nearly 70% of the global market in 2023. Its robots gained widespread attention during the Hangzhou Asian Games. The company entered the humanoid robot segment in 2023 and later launched its G1 model priced at 99,000 yuan ($14,300), significantly undercutting industry prices.

Unitree has attracted even greater attention over the last year, with its humanoid robots appearing on the CCTV Spring Festival Gala last January and the opening of an offline retail store in Beijing. As investment activity in the humanoid robotics sector accelerates, peers including Hong Kong-listed Ubtech (9880.HK), Hangzhou-based Deep Robotics, and Shanghai-based AgiBot have also moved rapidly toward capital markets, underscoring the sector’s rapid commercialization.

By Lee Shih Ta

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