Unitree heads to Shanghai listing hearing as Q1 profit drops 52%

The Shanghai Stock Exchange's Listing Review Committee is set to review Unitree Robotics' STAR Market IPO on June 1, just 73 days after accepting the application - an unusually fast track for what would be China's first listed humanoid-robot company, with the firm seeking to raise about 4.2 billion yuan (~$619M). The hearing comes despite a brutal Q1 in which Unitree's revenue jumped roughly 68% YoY to RMB 422.8M but adjusted net profit collapsed 52% to RMB 40.3M, as price competition with rivals like Tesla, Figure, and a wave of Chinese challengers compressed margins.