Unitree gains Shanghai IPO approval amid China's humanoid robot surge
Unitree, a robotics company from Hangzhou, has reached an important step for its IPO on Shanghai's Star Market. They filed their listing application on March 20, 2023, and after two rounds of reviews and an on-site inspection, they got the green light for a hearing, allowing the IPO to proceed to registration. The firm aims to raise 4.2 billion yuan (about US$621 million) by selling at least 40.4 million shares, representing a minimum 10% stake. This move reflects Unitree's dedication to investing in robotic intelligence as China's humanoid robotics market expands. Competitors like Dobot, already listed in Hong Kong, are also planning public market entries. In 2022, Unitree earned 1.7 billion yuan, leading in net profits at 590.8 million yuan.
Key facts
- Unitree cleared regulatory hurdle for Shanghai Star Market IPO
- Filed to list on March 20, 2023
- Aims to raise 4.2 billion yuan ($621 million) by offering at least 40.4 million shares
- Competitors Dobot, Leju Robotics, Deep Robotics also pursuing IPOs
- Zhong Sheng of Morgan Stanley commented on the humanoid IPO wave
- Unitree generated 1.7 billion yuan revenue last year, net profit 590.8 million yuan
- Unitree robots performed kung fu at Hong Kong exhibition in April
Entities
Institutions
- Unitree
- Shanghai Star Market
- Morgan Stanley
- Dobot
- Hong Kong Stock Exchange
- Shenzhen ChiNext board
- Leju Robotics
- Deep Robotics
- UBTech
- Jiangsu Azure Corp
- Hunan Meihu Intelligent Manufacturing
- AsiaWorld-Expo
- Unitree Robotics
- Star Market
Locations
- Hangzhou
- China
- Shanghai
- Hong Kong
- Shenzhen