Chinese robotics company Unitree has priced its Shanghai initial public offering at 150.8 yuan per share, valuing the humanoid and quadruped robot developer at approximately 61 billion yuan ($9.04 billion) as it seeks to raise 6.1 billion yuan on the STAR Market. Subscription opens August 10 for 40.45 million new shares representing 10% of enlarged capital.
Hangzhou-based AI firm DeepSeek has invested 140.8 million yuan for a 2.31% strategic stake, with the companies planning to combine DeepSeek's AI models with Unitree's mechanical engineering expertise. Nearly half the proceeds will fund research into intelligent robot models.
The listing arrives amid escalating U.S.-China technology tensions. U.S. sales accounted for 13.3% of Unitree's revenue last year, and the company has warned future models could face American sales restrictions. Revenue quadrupled to 1.7 billion yuan in 2025, driven by humanoid robots which now generate over half of sales.