Two leading Chinese humanoid robotics startups, AI² Robotics and Unitree Robotics, are rapidly advancing their initial public offering plans, marking a significant moment for the country's embodied artificial intelligence sector. AI² Robotics, a Shenzhen-based unicorn valued at nearly $3 billion, is in discussions with advisers for a Hong Kong listing expected next year, while Hangzhou's Unitree has set August 10 for subscription openings on Shanghai's STAR Market at a $5.7 billion valuation.
AI² Robotics, founded just three years ago by CEO Yandong Guo, recently completed a joint-stock restructuring—a typical precursor to going public—and raised nearly 5 billion yuan ($736 million) in June. The company builds wheeled humanoid robots called AlphaBot and its proprietary Alpha Brain vision-language-action system. Guo previously projected tenfold annual revenue growth and had stated ambitions to go public within one or two years. According to Caixin Global, up to 50 Chinese robotics startups are currently planning listings, including AGIBOT, the country's largest robot vendor, which targets a Hong Kong IPO later this year at a valuation between HK$40 billion and HK$50 billion.
Unitree, meanwhile, has already secured regulatory approval. It plans to raise 4.202 billion yuan ($618 million) by issuing 40.45 million new shares, equal to 10% of its enlarged capital. Unitree stands out as one of the rare profitable firms in the sector, with 2025 revenue of 1.7 billion yuan and adjusted profit of 591 million yuan, driven largely by humanoid robot sales that comprised over half of revenue in early 2025. The company will use IPO proceeds to develop robot “brains,” new products, and a manufacturing base capable of producing 75,000 humanoid and 115,000 quadruped robots annually. Nvidia has integrated Unitree’s G1 humanoid into its Isaac GR00T research platform, and Japan Airlines launched a three-year trial with Unitree robots at Haneda Airport. At the same time, U.S. lawmakers have raised national security concerns, proposing limits on Unitree’s use in federally funded research.
The combined moves highlight the maturation of China’s robotics industry, which already manufactures 84.7% of the world's humanoid robots shipped in 2025, and could reshape how the sector is valued globally.
