Key facts
- Chinese robot maker Unitree Technology is expected to be valued at over 50 billion yuan ($7.4 billion) after its planned Shanghai IPO.
- Citic Securities, the IPO sponsor, provided the valuation guidance.
- The company aims to raise 4.2 billion yuan to fund innovation and production.
- Unitree competes with Tesla and Boston Dynamics in the humanoid robot market.
- The U.S. has restricted advanced foreign-made robots from U.S. sales and added Unitree to a list of companies aiding Beijing's military.
Chinese robot maker Unitree Technology is poised for a significant valuation, potentially exceeding 50 billion yuan ($7.4 billion) following its planned initial public offering on the Shanghai Stock Exchange. A valuation report by Citic Securities, the IPO sponsor, suggests a post-listing valuation of 50.6 billion to 55.9 billion yuan within six to 12 months.
Unitree, which produces both humanoid and quadruped robots and competes with industry players like Tesla and Boston Dynamics, intends to raise 4.2 billion yuan through the IPO to bolster its innovation and production capabilities. The company is described by Citic Securities as a "globally-renowned, world-leading maker of high-performance, general purpose robotics" with a strong position in the embodied intelligence ecosystem.
The IPO proceeds amid a backdrop of heightened technological rivalry between China and the United States. Recently, the U.S. has imposed restrictions on foreign-made advanced robots and added Unitree to a list of companies it believes are assisting Beijing's military.
Citic Securities' report values Unitree at approximately 20 times its expected sales for the current year and about 80 times its projected earnings. Unitree is scheduled to set its IPO price on Thursday and begin accepting investor subscriptions on Friday.