Unitree, the Leading Chinese Robotics Company, Begins Mainland Listing Process
CEO Wang Xingsing Holds Approximately 35% Stake
"Company Valuation Reaches 1.9 Trillion Won"
Unitree, a leading Chinese robotics company (Yushukeji), is proceeding with the process to be listed on the Chinese stock market.
According to Chinese economic media outlets such as Cailianshe and Securities Times on July 19, the China Securities Regulatory Commission (CSRC) announced on its website the previous day that Unitree has completed registration for listing guidance (tutoring) with the Zhejiang Securities Regulatory Bureau. Listing guidance is a mandatory procedure for companies seeking an initial public offering (IPO) on the Chinese stock market.
On January 7, the opening day of CES 2025, the world's largest electronics and information technology (IT) exhibition, the humanoid robot Unitree G1 is greeting visitors at the Nvidia exhibition hall in the Fontainebleau Hotel, Las Vegas, Nevada, USA. Photo by Yonhap News
According to the disclosed report, the largest shareholder of Unitree is its founder Wang Xingsing. He directly holds a 23.82% stake in the company and indirectly controls another 10.94% through the joint venture Shanghai Yuyi Enterprise Management Consulting Partnership, bringing his total stake to 34.76%. Between October and December, the guidance institution (China Securities) plans to conduct a comprehensive assessment to determine whether Unitree meets the IPO requirements and will assist in preparing the listing application documents in accordance with relevant regulations.
Previously, as speculation about Unitree's listing surfaced, local media reported that the company's valuation could reach 10 billion yuan (approximately 1.94 trillion won).
Earlier this year, Unitree became a major topic of conversation after showcasing a spectacular group performance by humanoid robots at the CCTV Spring Festival Gala. Following this, the company experienced a sell-out of its consumer robots, an unusual commercial success in the robotics industry. Immediately after the Spring Festival, in February, Unitree began pre-sales on the Chinese e-commerce platform JD.com for its humanoid robots G1 and H1, priced at approximately 20 million won and 13 million won respectively, and both models sold out as soon as sales began. The G1 model later drew further attention last month when it appeared at the world's first robot fighting competition held in Hangzhou. Standing 1.3 meters tall and weighing 35 kilograms, this robot demonstrated eight sophisticated fighting moves, including straight punches, hooks, and kicks, learned from professional fighters.
Over the past five years, Unitree has secured more than 90 contracts from the Chinese government and universities, with a total contract value reaching 39 million yuan (approximately 7.57 billion won). About half of these contracts were signed in the past year.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
