Unitree Robotics Files for STAR Market IPO, Aiming to Be China’s First Humanoid Robot Stock

On March 20, Unitree Robotics officially submitted its IPO application to the Shanghai Stock Exchange’s STAR Market, seeking to raise RMB 4.202 billion. This positions Unitree to become the first humanoid robot company listed on China’s A-shares.

IPO Highlights

• Accepted under the STAR Market’s “pre-review” system, which shortens exposure time and protects sensitive technical information.
• Funds will support expansion in humanoid and quadruped robotics, as well as key components such as dexterous hands, collaborative robotic arms, and LiDAR sensors.

Product & Market Leadership

• Product lines include quadruped robots (Go, A, B series) and humanoid robots (H, G, R series).
• Since launching the H1 humanoid robot in 2023 and G1 medium humanoid in 2024, sales have grown rapidly.
• In 2025, Unitree shipped over 5,500 humanoid robots, ranking first globally in shipments (excluding wheeled dual-arm robots).
• One of the few companies worldwide to achieve scaled sales and profitability in high-performance general-purpose robotics.

Financial Performance (2025)

• Revenue: RMB 1.708 billion, up 335.36% year-on-year.
• Net profit (excl. non-recurring items): RMB 600 million, up 674.29% year-on-year.

Technical Achievements

• A1 quadruped robot (2020): 3.3 m/s running speed, fastest mid-sized quadruped in China at the time.
• H1 humanoid robot (2025): over 5 m/s running speed, setting a world record for full-size humanoids.
• G1 humanoid robot (2025): achieved electric-powered standing side flip, another industry breakthrough.
• At the World Robot Games (2025), H1 and G1 won 11 medals, leading in both gold and total medal count.

Unitree’s IPO marks a milestone for China’s robotics industry, signaling the arrival of humanoid robots as a commercially viable and globally competitive sector.