NextFin News — Unitree Technology will begin preliminary price inquiries on Wednesday for its initial public offering on the Shanghai STAR Market, with online and offline subscriptions scheduled for Aug. 10.
The company plans to issue 40.446434 million new shares, equal to 10 percent of the enlarged share capital of 404.46434 million shares after the offering. The deal combines strategic placement, offline institutional placement and online retail issuance, with CITIC Securities acting as sponsor and lead underwriter. Initial strategic placement is set at about 8.09 million shares, or 20 percent of the total offering, while the remaining shares are allocated between offline and online tranches subject to potential clawback. Proceeds are earmarked mainly for intelligent-robot model research, robot-body development, new product programs and construction of a manufacturing base, with the company targeting roughly RMB4.202 billion in gross proceeds.
Unitree, a Hangzhou-based maker of quadruped and humanoid robots, cleared the STAR Market listing committee in June and obtained China Securities Regulatory Commission registration in early July, completing the process in about 104 days from acceptance. The actual controller, Wang Xingxing, will retain majority voting power after the listing through a dual-class structure. The offering marks one of the first pure-play embodied-AI listings on the Chinese mainland equity market and sets a public valuation benchmark for the sector as institutional and retail investors prepare to bid.
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