Unitree wins approval for landmark Shanghai humanoid-robot IPO

China's securities regulator approved Unitree Robotics' initial public offering on the Shanghai STAR Market on July 3, clearing the way for the Hangzhou company to raise about 4.2 billion yuan (roughly $618 million) and become the A-share market's first pure-play humanoid-robot stock. The registration cleared in a record 104 days after Unitree filed in March, and a market debut could come as early as late July at an initial valuation near 42 billion yuan. Humanoid robots made up 51.5% of Unitree's revenue in the first nine months of 2025, and the company shipped more than 5,500 humanoid units that year - far more than any Western rival.