Unitree IPO to test valuations as venture capital floods China robotics

The robot maker plans to raise 4.2 billion yuan by selling at least 40 million shares that implies a valuation of around 42 billion yuan Unitree Robotics has secured approval from China’s securities regulator for a Shanghai initial public offering that is poised to set a valuation benchmark for China’s sizzling embodied AI sector. The nod from the China Securities Regulatory Commission came about a month after the Hangzhou-based company cleared a review by the Shanghai Stock Exchange’s listing committee. Unitree is now finalising its underwriting plan, pricing and share subscriptions for a potential debut as early as late July. The robot maker plans to raise about 4.2 billion yuan (US$618.4 million) by selling at least 40.4 million shares – a minimum 10 per cent stake that implies an initial valuation of around 42 billion yuan. The proceeds will fund robot model development, robot-body research, new products and manufacturing capacity, according to its prospectus. Unitree’s financials offer a rare look at a profitable player in the space. The company generated 1.7 billion yuan in revenue and 591 million yuan in adjusted profit last year.

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