Robot-Maker Unitree Steps Closer to China IPO
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A Unitree Robotics G1 humanoid robot at the New York Stock Exchange on Nov. 10. Photo: VCG
Chinese robotics firm Unitree Robotics has completed its pre-listing tutoring, moving a step closer to a domestic initial public offering (IPO).
According to a disclosure on the China Securities Regulatory Commission’s website, the status of Unitree’s IPO tutoring, conducted by Citic Securities Co. Ltd., has been updated to “guidance acceptance.”
Based on the routine arrangements, Citic Securities and related accounting firms will assess Unitree’s listing qualifications from October to December. The firms’s IPO application will then undergo a review by the stock exchange and the securities regulator, suggesting a listing could take place in late autumn or afterward.
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- Unitree Robotics completed IPO pre-listing tutoring, aiming to list domestically, with Citic Securities' assessment scheduled for October–December 2024.
- Founded in 2016, Unitree held about 70% of the global quadruped robot market in 2023 and recently expanded into competitively priced humanoid robots.
- In 2024, Unitree raised around 1 billion yuan in Series B2 funding and, with AgiBot, won a 120 million yuan contract from China Mobile.
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Who’s Who
- Unitree Robotics
- Unitree Robotics, a Chinese firm founded in 2016, is a leading quadruped robot commercializer, holding nearly 70% of the global market share in 2023. They've expanded into humanoid robotics, known for aggressive pricing. Unitree is pursuing a domestic IPO, with pre-listing tutoring complete. Founder Wang Xingxing holds a 34.8% stake. The company aims for a listing in late autumn 2025 or afterward.
- Citic Securities Co. Ltd.
- Citic Securities Co. Ltd. (中信证券) is a Chinese financial services company. They are involved in the pre-listing tutoring of Unitree Robotics for its domestic IPO. They are responsible for assessing Unitree's listing qualifications from October to December, in conjunction with related accounting firms.
- AgiBot
- AgiBot, a Tencent-backed embodied intelligence firm, announced plans to acquire a significant stake in Swancor Advanced Materials Co.Ltd. In July, AgiBot and Unitree jointly secured a 120 million yuan procurement project from China Mobile Ltd., which involved orders for humanoid robots, computing backpacks, and dexterous robotic hands.
- Swancor Advanced Materials Co.Ltd.
- Swancor Advanced Materials Co.Ltd. is a company that manufactures high-performance corrosion-resistant materials and wind turbine blade components. It is listed on Shanghai's STAR Market. In July, Tencent-backed embodied intelligence firm AgiBot announced plans to acquire at least 63.62% stake in Swancor.
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What Happened When
- 2016：
- Unitree was founded.
- 2023：
- Unitree held nearly 70% global market share for four-legged robots, according to GGII.
- 2023：
- Unitree robots featured at Hangzhou Asian Games, carrying javelins and discus equipment.
- August 2023：
- Unitree unveiled its first humanoid robot model.
- February 2024：
- Unitree completed Series B2 fundraising round, raising about 1 billion yuan.
- May 2024：
- Unitree launched its humanoid robot G1, priced at 99,000 yuan.
- Early 2025：
- Unitree humanoid models performed at the Lunar New Year Gala.
- February 2025：
- CEO Wang Xingxing attended a high-level entrepreneurs’ forum.
- June 2025：
- Unitree completed a Series C fundraising round.
- July 2025：
- Unitree filed a pre-listing tutoring report with Citic Securities, signaling intent to go public as early as autumn 2025.
- July 2025：
- AgiBot announced plans to acquire at least 63.62% stake in Swancor Advanced Materials Co. Ltd.
- July 2025：
- Unitree and AgiBot jointly won a 120 million yuan procurement project from China Mobile Ltd.
- September 2025：
- Unitree posted on social media X to emphasize non-military technology and announced plans to submit IPO documentation between October and December 2025.
- By October 2025：
- Unitree completed its pre-listing tutoring; status updated to 'guidance acceptance' by China Securities Regulatory Commission.
- Between October 2025 and December 2025：
- Citic Securities and accounting firms will assess Unitree's listing qualifications; Unitree plans to submit IPO documentation.
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