On Monday, Unitree Robotics has cleared the listing committee review for its initial public offering (IPO) on China’s STAR Market, marking one of the fastest approvals in the board’s history. The company completed the regulatory process in 73 days from acceptance on March 20 to approval and set a fast-track record for STAR Market listings, according to the exchange filing.
Unitree plans to raise 4.202 billion yuan ($620 million). Based on a minimum 10% public float requirement, its initial market capitalization is expected to be at least 42 billion yuan ($6.2 billion). In its prospectus, the robotics company reported 2025 revenue of 1.699 billion yuan ($250 million) and net profit of 278 million yuan ($41 million). It said it shipped more than 5,500 humanoid robots during the period.
The shareholder base includes major Chinese tech and investment firms. Meituan-backed entities hold a combined 9.65% stake, making it the largest external shareholder, followed by Sequoia China with 7.11%. Tencent, Alibaba and Ant Group are also investors in the company. [TechNode reporting]