World's largest humanoid robot maker Unitree's founder becomes billionaire ahead of IPO

According to a filing on Aug. 6, Unitree priced its initial public offering at 150.8 yuan (US$22.34) per share, valuing the company at about 61 billion yuan (US$9.04 billion). The deal will make the Hangzhou-based firm China's first mainland-listed humanoid robot manufacturer, Reuters reported.

Based on his ownership stake, the 36-year-old has amassed an estimated fortune of $2.4 billion, according to Forbes.

The company, also known as Yushu Technology, plans to raise 6.1 billion yuan through the IPO, with Chinese AI startup DeepSeek among its strategic investors, according to the filing.

According to the prospectus, the proceeds will be used to develop new products and improve software algorithms.

Unitree's founder Wang Xingxing. Photo from Unitree's website

Founded by Wang in 2016 after a brief stint at Chinese drone giant DJI, Unitree has launched more than a dozen products, including quadruped robot dogs and humanoid robots. It also supplies components such as lidar sensors and dexterous robotic hands.

The company's profile rose sharply in early 2025 after its humanoid robots appeared at China's Spring Festival Gala, demonstrating capabilities including walking, running and performing martial arts.

The increased visibility was followed by rapid business growth. According to the prospectus, Unitree shipped more than 5,500 humanoid robots in 2025, the highest volume globally. Between 2023 and 2025, it also sold more than 33,000 quadruped robots, reinforcing its position as the world's largest supplier in that segment.

Speaking at an online investor meeting on Aug. 7, Wang said the company will continue advancing key technologies, including embodied AI foundation models, scenario-based data collection and analysis, reinforcement learning, robot foundation models, in-house core components and high-performance actuators, according to Global Times.

He said Unitree is also expanding its product lineup to include humanoid, quadruped and mecha robots, with the goal of deploying robots in physically demanding and high-risk environments while allowing people to focus on more creative work.

Addressing an investor's question about recent restrictions by the U.S. Federal Communications Commission on advanced robotics equipment, Wang said the company had already disclosed the risks posed by rising trade tensions and regulatory measures in its prospectus and other public filings.

He said Unitree's current humanoid and quadruped robots have received U.S. approvals, but future models could face restrictions on sales in the country.

Unitree's listing comes as a growing number of Chinese robotics startups, including Deep Robotics, Leju Robotics, AgiBot, X Square Robot and LimX Dynamics, prepare to enter public markets.

China is home to more than 140 humanoid robot manufacturers. Annual shipments reached 14,400 units, with Chinese companies accounting for roughly 80% of humanoid robots shipped worldwide, CCTV News reported.