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Unitree Robotics prices IPO at 150.8 yuan, raising 6.1 billion yuan
The Hangzhou-based company sold 40.45 million new Star Market shares, pricing at 150.8 yuan, after raising more than its initial 4.2 billion yuan target.
Unitree Robotics has priced its long-awaited initial public offering on the Shanghai Star Market at 150.8 yuan per share, valuing the Hangzhou-based firm at 60.99 billion yuan (US$9 billion), according to SCMP Economy.
The company will sell 40.45 million new shares to raise 6.1 billion yuan, exceeding its initial 4.2 billion yuan target. The IPO is positioned as a valuation benchmark for China’s embodied-AI and robotics sector, where investors have shown heightened interest.
DeepSeek, which invested 141 million yuan and is subject to a three-year lock-up period, agreed to co-develop AI models and embodied-intelligence technology with Unitree. Unitree also said the two firms will provide each other priority access in areas including robot procurement and AI model services.
The IPO is expected to act as a valuation anchor, effectively setting a ceiling for other companies in the embodied-intelligence space, according to Zheng Hualiang, founder of Leap VC, a Hangzhou venture capital firm focused on AI hardware and foundational models.