Robotics sector surges! Unitree Robotics' STAR Market IPO registration takes effect

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The China Securities Regulatory Commission has officially approved the registration of Unitree Robotics’ STAR Market IPO, leaving this leading humanoid robot manufacturer just one step away from listing on the A-share market. Driven by this news, the robot concept sector surged strongly in the afternoon, with market sentiment heating up noticeably.

On July 2, the CSRC disclosed that it has approved Unitree Robotics Co., Ltd.’s registration for its initial public offering of shares, with the approval valid for 12 months, requiring the company to strictly implement the prospectus and issuance underwriting plan submitted to the Shanghai Stock Exchange. This means Unitree Robotics has completed all regulatory review processes, and the pricing and issuance phase is about to begin.

As a result, the A-share robotics sector rose significantly in the afternoon. Over 40 stocks, including Leader Harmonic, Top Group, Joyson Electronics, Guangyang Co., and Fengguang Precision, hit their trading limits, while dozens of others such as Wanda Bearing, Haozhi Electromechanical, Fengli Intelligence, and Obizhongguang saw gains of over 10%.

104 days to complete the full process, setting the fastest review record of the year

Unitree Robotics’ listing journey this time has been exceptionally efficient. The company submitted its STAR Market IPO prospectus to the Shanghai Stock Exchange on March 20 and was accepted; its initial offering application was approved by the listing committee on June 1; and on July 2 obtained CSRC registration approval, taking a total of 104 days.

Among these, only 73 days elapsed from acceptance to approval, setting the fastest IPO review record so far in 2026. In contrast, the highly watched Changxin Technology took 148 days during the same period to pass its review.

The Shanghai Stock Exchange listing committee determined that Unitree Robotics meets the issuance conditions, listing conditions, and information disclosure requirements. The A-share market is about to welcome its first listed company with humanoid robot manufacturing as its main business, marking a milestone in the capitalization process of the embodied intelligence sector.

Raising over 4.2 billion yuan, overall valuation may far exceed 42 billion yuan

According to the previously released prospectus, Unitree Robotics plans to raise 4.202 billion yuan in this IPO, choosing a listing standard with an expected valuation not less than 10 billion yuan. The company’s most recent post-money valuation after market-oriented equity financing was 12.7 billion yuan.

Based on an issue proportion of no less than 10%, the company’s overall valuation is estimated to reach at least 42 billion yuan, with industry expectations that actual market value will be much higher. The funds raised will mainly be used for intelligent robot model and body R&D, development of new intelligent robot products, and construction of an intelligent robot manufacturing base.

From a shareholder structure perspective, the second largest institutional shareholder Meituan holds 9.6488%, which, based on the above valuation, means equity value of over 4 billion yuan, with expected floating profit from early investment exceeding 3 billion yuan. Early institutional investors such as Sequoia China and Matrix Partners also simultaneously enter the exit window.

Profitable manufacturer, claims global number one in humanoid robot shipments

Unitree Robotics was founded in 2016 by post-90s entrepreneur Wang Xingxing. It is one of the so-called "Hangzhou Six Dragons" leading embodied intelligence companies, and is among the few industry manufacturers to achieve sustained profitability.

Financial data indicates that in 2025, the company’s operating income was about 1.7 billion yuan, net profit about 278 million yuan, and net profit after excluding non-recurring items grew rapidly. Meanwhile, the company’s shipments of humanoid robots exceeded 5,500 units, self-proclaimed as the global leader.

Unitree Robotics states that this listing aims to strengthen its capital base, continue enhancing its independent innovation capabilities and comprehensive competitive advantage across the full embodied intelligence industry chain, expand its product matrix, and lead technological innovation and large-scale application trends in the high-performance general-purpose robot industry.

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