World's Largest Humanoid Robot Maker to List

The world's largest humanoid robot maker is set to go public. Hangzhou-based Unitree Robotics, which last year became the world's largest seller of humanoid robots, filed for an initial public offering (IPO) on the Shanghai Stock Exchange in March, restofworld.org reports.

The company hopes to raise 4.2 billion yuan ($610 million) through the IPO, money it will use for research and development, as well as to expand its production capacity.

"Unitree's listing will test investors' appetite for humanoid robots,” said Ethan Qi, associate director at Counterpoint Research, quoted by Rest of World, noting: "Currently, there are over 100 humanoid robot companies in China. The number will likely drop to a few dozen with further consolidation following the listing of the first batch of such companies, including Unitree.”

Unitree rose to prominence in early 2025 when it featured its humanoid robots dancing on one of China's most-watched television shows. In 2024, Unitree's humanoids were among nine robots that Nvidia CEO Jensen Huang showcased on stage at the company's annual conference to demonstrate the changing nature of "physical artificial intelligence.”

Unitree's IPO comes as the race for humanoid robots intensifies. Earlier this year, American billionaire Elon Musk said that his company Tesla will launch retail sales of its flagship Optimus robots by the end of 2027.

Unitree's IPO is likely to be closely watched as an indicator of the market readiness for humanoid robots.

According to the IPO prospectus, Unitree started making a profit last year. In 2025, the company recorded an adjusted net profit of 600 million yuan ($90 million), up 674.3% from 2024, its first profitable year. The company's revenue rose to 1.71 billion yuan ($250 million) in 2025, from 392 million yuan in 2024. Between 2022 and 2024, export revenue accounted for more than 55% of the company's total revenue. However, in 2025, domestic revenue exceeded foreign sales. The absolute value of exports, however, more than doubled.

Unitree accounted for a third of global humanoid robot sales last year. Over the next five years, the company plans to produce 75,000 humanoid robots and 115,000 quadrupeds annually. However, it is cautious about the effect of "trade and geopolitical uncertainties” on the raw materials it imports, which currently account for about 20% of its supply chain. The humanoid robots rely heavily on Nvidia chips and systems for their "brains” and computing power.