Unitree Robotics to Launch STAR Market IPO Next Week, Reporting RMB 1.7 Billion in Revenue Last Year
N.R. Finch
Unitree Robotics (宇树科技) will launch its STAR Market IPO next week, offering 40.4 million shares — 10% of post-offering equity; the company posted ¥1.7 billion in 2025 revenue and ¥591 million in adjusted profit, making profitability its key edge in a sector where most peers still lose money.
What does the IPO timeline look like?
Preliminary price inquiry (bookbuilding) starts August 5; the offer price is set August 6.
Offline and online subscription opens August 10, payment due August 12, final results announced August 14.
This means → fewer than 10 days from bookbuilding to result — a tight window that compresses the pricing game.
How much control does the founder keep?
After the offering, founder Wang Xingxing and related parties will hold 31.29% of shares but control 65.31% of voting rights.
In plain terms = one-third of the equity, two-thirds of the votes — a weighted-voting structure that keeps the founder firmly in charge post-listing.
Why can Unitree list ahead of its peers?
2025 revenue reached ¥1.7 billion with adjusted profit of ¥591 million — at a stage when most robotics startups are still burning cash, Unitree is already profitable.
This means → profitability is Unitree's strongest card against peers, and the central reference point for IPO pricing.
The listing application cleared the SSE review committee in March; the CSRC approved registration on July 2 — roughly four months from clearance to launch.
What is the bigger picture?
The IPO lands as US-China competition in robotics intensifies and Chinese robotics startups accelerate their push into capital markets.
This reflects Unitree's position as one of the first high-profile robotics firms to reach the A-share market, potentially setting a tempo for peers that follow.
Content is for reference only, not financial advice.