China's humanoid leader Unitree is raising $904M

The offer will sell 10% of the enlarged company, at a $9B valuation.

Unitree's prospectus says it shipped more than 5,500 humanoids in 2025, ranking first globally by volume.

Revenue reached approximately $251.8M, attributable net profit was $41.2M, and main-business gross margin was 60.13%.

Unitree's prospectus acknowledges that earlier investment in those models, real-world data collection, and factory training was limited.

Now it plans for intelligent-robot model research, its largest project, and has partnered with DeepSeek on model development.

First-quarter 2026 revenue rose 68.5%, but adjusted profit fell 52.6% as R&D and marketing spending climbed.

---

bloomberg .com/news/articles/2026-08-06/china-s-unitree-seeks-904-million-in-first-mainland-robotic-ipo