Chinese humanoid robotics maker Unitree moved one clunking step closer to a Tesla (TSLA)-challenging IPO today.
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IPO Preparation
According to the China Securities Regulatory Commission, Unitree has completed a four-month long pre-initial public offering tutoring process, which is an important step ahead of an official listing.
It includes determining the fundraising amount for its IPO and the draft of an investment plan for the capital to be raised.
The filing did not specify the fundraising target or listing timeline, but it is understood that Unitree is eyeing up a valuation of around $7 billion when it lists on Shanghai’s Nasdaq-style Star Market.
The company has previously said it planned to file a formal IPO application between October and December.
China’s IPO tutoring period typically lasts between six and 12 months, Shen Meng, director at Beijing-based investment firm Chanson & Co told the South China Morning Post.
As such Unitree’s completion of this process within just four months is understood to signal strong government support for the technology and innovation sector.
Xi Support
“Some tech companies are receiving exceptional government support, as policymakers have made it clear that they aim to build an economic growth model based on high-quality productive forces anchored in innovation,” Shen said. “Technology has become a core element in the global competition for national prowess.”
That has been spurred on by the tariff trade spat between President Trump and China’s President Xi. Both men are determined to lead their nations to number one spot in the AI race.
When it comes to humanoids, the American great hope is Tesla’s Optimus. Chief executive Elon Musk hopes that they will be 80% of the company’s long-term value.
However, he faces growing competition from China with the likes of BYD (BYDDY) and XPeng (XPEV) also developing humanoids.
Unitree is also well in the race. It released a number of videos last year showing its robots walking, climbing and carrying loads. It also won multiple medals at the World Humanoid Robot Games this summer, including the 4X100 relay.
This year at the China International Import Expo, itd displayed new models, including the lightweight, consumer-facing R1, a taller and more facially human-like H2, and an upgraded industrial-grade legged robot, the A2.
According to International Data Corporation, shipments of commercial humanoid robots in China were projected to reach around 5,000 units in 2025 before rising to nearly 60,000 units by 2030.
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