Unitree Robotics chairman and chief technology officer Wang Xingxing announced that the company achieved global leadership in humanoid robot shipments during its Science and Technology Innovation Board initial public offering roadshow in Shanghai, highlighting firm financial growth ahead of its market debut.
Unitree Robotics moved closer to its public market debut on August 7, 2026, holding its Science and Technology Innovation Board initial public offering online investor roadshow at the Shanghai Securities News, China Securities Net, and the Shanghai Securities Roadshow Center. Company executives, including chairman, general manager, and chief technology officer Wang Xingxing, chief financial officer Wang Feng, board secretary Fu Fenghua, and sponsor representatives, met with investors to discuss strategy, financial performance, and fundraising plans, according to financial reporting from Tencent News.
Financial Performance and Valuation Ahead of the Listing
The company enters the public market following a period of rapid financial expansion. Unitree reported that its operating revenue climbed from 1.59 billion yuan in 2023 to 3.93 billion yuan, before surging to 16.99 billion yuan by 2025, marking a three-year compound annual growth rate of 226.78 percent, news.qq.com. Deducted non-net profit shifted from a loss of -1801.91 million yuan in 2023 to a positive 5.91 billion yuan in 2025, with the firm crossing the profitability threshold in 2024.
For the first half of 2026, the company projected operating revenue between 10.52 billion and 11.28 billion yuan, representing year-over-year growth of 35.62 to 45.41 percent. Deducted non-net profit for the same half-year window is expected to reach between 2.36 billion and 2.83 billion yuan. While revenue growth has moderated, the significantly larger revenue base indicates that the enterprise is transitioning from rapid expansion into a phase of scaled commercial operation.
Pricing for the public offering was finalized on August 6, 2026, setting the share price at 150.80 yuan with a corresponding market capitalization of approximately 609.93 billion yuan. The offering of 4,044.6434 million shares accounts for 10 percent of the post-issue total share capital. The total anticipated fundraising haul reached approximately 60.99 billion yuan, exceeding the previously planned target of 42.02 billion yuan. Nine strategic investors participated in the share allocation, securing a total of 808 shares, the reporting shows.
Global Shipment Leadership in Humanoid Robotics
The roadshow presentation emphasized the shifting revenue structure within Unitree, where humanoid robots have transitioned from exploratory products into the company’s primary revenue pillar. In 2023, humanoid robots accounted for just 1.88 percent of total revenue. By 2025, that share jumped to 51.53 percent, generating 8.67 billion yuan in sales. Meanwhile, quadruped robots maintained steady performance with cumulative sales exceeding 33,000 units across consumer and industrial product lines, news.qq.com.
Unitree captured the leading position in worldwide humanoid shipments for 2025. Prospectus data cited during the sessions indicated that global humanoid robot shipments totaled approximately 17,000 units in 2025, with Unitree delivering over 5,500 pure humanoid units—excluding wheeled dual-arm robots—capturing roughly 32.4 percent of the global market share, news.qq.com.
Core Technology Strategy and Industry Outlook
During the roadshow event covered by Rccaijing, Wang outlined the technological roadmap guiding the firm’s R&D investments. The company intends to focus its engineering efforts on embodied large-scale models, scene data acquisition and analysis, reinforcement learning, embodied body models, self-developed core components, and high-performance actuators. Management also plans to explore expanded product categories, including advanced humanoid configurations, quadruped systems, and mechanical armor platforms designed to handle high-intensity, high-risk physical labor.
The current results are merely a starting point. The overall embodied intelligence industry is still in its early developmental stage, comparable to the early days of personal computers. The generalization capability of equipment to adapt to unfamiliar environments still requires joint efforts from practitioners across the entire industry to elevate. Wang Xingxing, Chairman, General Manager, and Chief Technology Officer, Unitree Robotics
Operational execution relies on a mixed manufacturing approach combining build-to-order planning with safety stock management. Unitree performs final assembly of complete machines and core subassemblies internally, while relying on customized procurement and outsourced processing for non-core parts and specific manufacturing steps. This organizational model allows the enterprise to maintain rigorous quality control over key components while optimizing cost efficiency, according to financial disclosures detailed during the investor exchange.
Entering the capital markets is a brand-new starting point for Unitree Robotics. In the future, we will adhere to our original aspiration, diligently polish core technologies, continuously cultivate the research and development and industrial implementation of general embodied intelligent robot core technologies, and enable smart robots to serve the whole society earlier and better. Wang Xingxing, Chairman, General Manager, and Chief Technology Officer, Unitree Robotics
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