Unitree Robotics wins approval for Shanghai IPO

Unitree Robotics has won approval from China’s securities regulator for an initial public offering on Shanghai’s STAR Market, reports Caixin.  The move sees one of the country’s most prominent humanoid robot makers move closer to a public listing.

The China Securities Regulatory Commission said on Thursday that it had received the Shanghai Stock Exchange’s review opinion and Unitree’s registration documents and approved the company’s IPO registration.

The decision comes as Chinese robotics companies race to tap public and private capital, with investors betting that humanoid robots could become a major new manufacturing and consumer technology platform. A Unitree investor said the company’s IPO valuation could reach about RMB 40 billion ($5.9 billion), setting a possible benchmark for other Chinese robot makers seeking listings.