Humanoid robots from Unitree Robotics after a boxing match at the World Smart Industry Expo 2025 held at the Cheong Gin International Expo Centre, Cheong Gin Province, China on September 7, 2025.
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One of China’s hottest tech startups, Unitree Robotics is planning an initial public offering that could potentially value the company for up to 50 billion yuan ($7 billion), establishing it as a global leader in humanoid robots.
So-called humanoid robots are artificial intelligence driven machines designed to resemble human-like appearance and movement, and have applications in the industrial and services sectors.
Zhijiang-based Unitree has established itself as a leader in China’s humanoid robot space, and its listing plans could become one of the first companies to specialize in technology being published.
The new valuation goal first reported by Reuters would mark a sharp jump from the latest fundraising round reported in June, citing two people who know the plan. At the time, the company was attracting major supporters such as Geely, Alibaba and Tencent.
In a post on the Aug. 27th X Account, Unitree outlined its plans for the IPO, said it was actively preparing the list and hopes to submit application documents in the fourth quarter of the year.
It remains unclear how many Unitrees are trying to procure the IPO. The company recently told local Chinese media that it has been profitable since 2020 and currently has revenues of over 1 billion yuan ($140.35 million).
Unitree did not respond to CNBC’s request for comment.
This size offering is one of the largest list of Chinese technology in recent years. Mainland stock markets have gradually revived over the years of regulatory scrutiny and volatility.
Unitree’s listing plan will also be carried out to help Beijing strengthen its efforts to support local champions in the artificial intelligence industry. Its founder Wang Xingxing is reportedly among a group of technical leaders who attended a rare meeting with Chinese President Xi Jinping earlier this year.
In 2023, China’s Ministry of Industry and Information Technology issued guidelines for humanoid robots in 2025, calling for “large-scale production.”
The competition gets hot
Unitree is part of a wave of Chinese humanoid robotics companies, including Beijing-based robotics startup, and Agibot, also known as Galbot, a Hong Kong government-backed Beijing-based robotics startup.
These companies are in a hurry to deploy their robots to factories in China. EV makers such as BYD and Geely are reportedly already deploying some of Unitree’s humanoid robots on their production lines.
Meanwhile, Chinese humanoid robots have taken the central stage at recent publication events such as the World Robot Conference and the World Humanoid Robot Games.
According to Lian Jye SU, chief analyst at independent analyst and consulting firm Omdia, IPOs could help humanoid robots stand as China’s leading company as these companies quickly deploy robots to factories across China.
“Unitree is one of the world’s leading vendors of mobile robots and could become a top player in the humanoid robot sector,” he said.
Omdia estimates that a total of 15,000 units will be shipped this year, with Unitree’s share second only to its domestic competitor Agibot.
Competition is intensifying internationally as well. The US has seen its own burgeoning humanoid robot players, including Boston Dynamics and Figure AI. However, Tesla’s Optimus appears to be leading the pack in commercial preparation. CEO Elon Musk previously stated that he plans to produce around 5,000 units this year.
However, analysts previously told CNBC that China has established an early lead in the humanoid robots field in terms of commercial products and pricing.
Morgan Stanley’s research notes last month said that the Unitree G1 is likely the most used humanoid robot, given its low starting price of $16,000. Tesla’s Optimus Gen2 humanoid robot is expected to cost at least $20,000.
Meanwhile, Unitree recently announced its new humanoid, the Unitree R1, with a starting price of $5,900. According to Morgan Stanley, these inexpensive humanoids may not be the most advanced, but it is worthwhile for Unitree to gather the critical data needed to train next-generation robot models.
Still, China may have an early lead in the commercial success of humanoid robots, but analysts point out that the US has its strengths in the wider AI robotics environment.
I love powerful chipset makers in the US nvidia and IntelHyperscolor etc. Google and Metaand robotics software vendors such as Physical Intelligence and Skild AI will provide an overall humanoid robot ecosystem “if equal, if not more robust,” Omdia analyst Su said.
For example, Chinese humanoid robot makers, including Unitree Robotics, have become early adopters of Nvidia’s humanoid robot technology. This includes the Jetson AGX Thor Platform, which Nvidia released recently. This allows the machine to interact intelligently in real time with people.
In a recent research note, analysts at Merrill Lynch estimated that in 2025, the company would reach 18,000 units, from 2,500 units the previous year. It also estimates the global population of 3 billion robots by 2060.
