Unitree Robotics is a Hangzhou-based civilian robotics company building quadrupeds, humanoids, dexterous hands, robot arms, and core robot components. After leading the market for publicly sold quadruped robots, Unitree expanded aggressively into humanoids with H1, G1, R1, and H2 at price points far below most Western peers, becoming the world's top humanoid seller by volume in 2025 (5,500+ units sold at ~32% global share). Its STAR Market prospectus reports 1.71 billion yuan (~$250 million) of 2025 revenue, adjusted net profit around 590–600 million yuan at a 60% gross margin, and more than 30,000 quadrupeds shipped from 2022 to September 2025. On July 3, 2026 Unitree secured CSRC registration approval for a Shanghai STAR Market IPO — clearing review in a record 104 days — and plans to raise about 4.2 billion yuan (~$618 million) at an initial valuation near 42 billion yuan (~$6 billion), with a debut possible as early as late July that would make it the first listed Chinese humanoid-robot maker. Nvidia adopted Unitree's H2 body for its Isaac GR00T reference humanoid (unveiled at COMPUTEX in June 2026), while a June 2026 U.S. Pentagon Section 1260H listing has created headwinds for Unitree's U.S. research and government-affiliated customers.
Compact humanoid platform designed for embodied-AI development, education, and research. Unitree positions G1 as a low-cost humanoid avatar with optional dexterous hands, 3D LiDAR, depth cameras, and 23 to 43 total joints depending on configuration.
In market since 2024 and positioned primarily for developers, universities, and research labs. G1 also sits under Unitree's newer competition, data-training, and robot-combat variants.
Unitree's first universal full-size humanoid robot and the platform that put the company on the global humanoid map. It remains a high-mobility research platform with 3D LiDAR, depth sensing, and record-setting running performance.
Still offered alongside the heavier H1-2 configuration and newer H2 platform. Primarily used for research, robotics development, and public demonstrations.
Second-generation full-size humanoid platform aimed at broader embodied-AI and service use cases. H2 adds a bionic head, higher onboard compute, longer battery life, and a more capable upper body than H1. The H2+ variant — unveiled with Nvidia and Sharpa at COMPUTEX Taipei on June 1, 2026 — pairs the H2 body with Nvidia Blackwell-class compute, the Isaac GR00T stack, and Sharpa's 25-DoF dexterous hands as Nvidia's reference humanoid platform.
Unveiled in October 2025 and listed publicly with a base price in 2026. The H2+ Nvidia/Sharpa research variant becomes available in October 2026 with initial deliveries to Allen AI, ETH Zürich, Stanford and UC San Diego.
Low-cost lightweight humanoid designed to push embodied-AI development toward broader developer and consumer experimentation. R1 integrates voice and image multimodal interaction with a smaller, cheaper body than G1 or H2.
Launched in July 2025 as Unitree's lowest-cost humanoid platform, with Air, standard, and EDU variants.
Unitree's mainstream consumer and developer quadruped platform. Go2 pairs low pricing with 4D LiDAR, OTA updates, app control, and enough mobility to make quadrupeds accessible outside elite labs and enterprise buyers.
Core quadruped product line since 2023, with Air, Pro, X, and EDU configurations sold globally across consumer, education, and developer markets.
Industrial quadruped built for power inspection, emergency response, and harsh-environment field work. B2 pushes far beyond consumer quadrupeds on load, endurance, and climbing ability.
Industrial flagship since late 2023, with optional wheeled-foot configuration for higher-efficiency field deployment.
Unitree's most advanced industrial quadruped, launched August 2025 as a rugged all-terrain platform for inspection, logistics, and field operations. The A2 ("Stellar Hunter") pairs dual front-and-rear 3D LiDAR for 360-degree awareness with hot-swappable batteries and a heavy standing-load capacity that pushes well beyond the B2.
Premium industrial flagship unveiled August 7, 2025, positioned above the B2 for demanding inspection and logistics work; sold as an enterprise, quote-based platform (reported around $100,000). A wheel-leg configuration is available for higher-efficiency field mobility.
Weight37 kg (unloaded)
Standing / Walking Load100 kg / 25 kg
Top SpeedApprox. 5 m/s
Endurance20 km / 5 h unloaded (12.5 km / 3 h fully loaded)
LiDARDual front + rear 3D LiDAR
What's Next
Price and trade the Shanghai STAR Market IPO
The Shanghai listing review was approved June 1, 2026, CSRC registration approval followed on July 2–3, 2026, and the Shanghai Stock Exchange marked the registration 'effective' on July 6 — the final regulatory clearance, completed in a record ~104 days. As of July 11, 2026 the issuance has not yet priced or begun trading: the underwriting/issuance plan goes to the exchange before pricing, and a final share price and subscription date have yet to be set (typically weeks after registration), with a market debut possible as early as late July or August 2026, which would make Unitree the first listed Chinese humanoid-robot maker. As of July 12, 2026 no price range or subscription date had yet been set. The targeted ~4.2 billion yuan raise (at least ~40.4M shares, ~10% stake, implying a ~RMB 42B / ~$6B valuation) is earmarked for robot model R&D, robot-body R&D, new product development, and a manufacturing base build-out.
2026
Ship Isaac GR00T H2+ in October
Deliver the Nvidia/Sharpa-co-developed H2+ Isaac GR00T reference humanoid starting October 2026 to anchor research customers including Allen AI, ETH Zürich, Stanford's Robotics Center and UC San Diego, then scale the platform into commercial customers. As of mid-July 2026 the October ship target stands with no status change since the June 1 COMPUTEX unveiling.
October 2026
Scale manufacturing capacity toward 20,000 humanoids in 2026
Near-term target is 20,000 humanoid robots shipped in 2026 (vs 5,500 in 2025) — a nearly 4x increase. Medium-term goal over five years is 75,000 humanoids and 115,000 quadrupeds annually (190,000 total). IPO proceeds are earmarked for a smart manufacturing base to replace the current manual/outsourced assembly model and achieve modular, flexible mass production at scale.
2026-2030
Broaden the embodied-AI product stack and navigate Pentagon listing
Continue expanding from finished robots into embodied models, dexterous hands, robotic arms, and sensors. The Pentagon's June 8, 2026 Section 1260H listing restricts direct DoD contracting with Unitree from June 30, 2026 and indirect procurement from June 2027, creating near-term uncertainty for U.S. government-affiliated research labs (the majority of the current U.S. humanoid buyer base) while domestic China and non-U.S. government markets remain unaffected. As of mid-July 2026 Unitree had issued no public legal challenge to the listing, even as Beijing imposed broad retaliatory trade measures over the U.S. designations.
Unitree wins approval for landmark Shanghai humanoid-robot IPO
China's securities regulator approved Unitree Robotics' initial public offering on the Shanghai STAR Market on July 3, clearing the way for the Hangzhou company to raise about 4.2 billion yuan (roughly $618 million) and become the A-share market's first pure-play humanoid-robot stock. The registration cleared in a record 104 days after Unitree filed in March, and a market debut could come as early as late July at an initial valuation near 42 billion yuan. Humanoid robots made up 51.5% of Unitree's revenue in the first nine months of 2025, and the company shipped more than 5,500 humanoid units that year — far more than any Western rival.
Jul 4
Unitree wins approval for $618M Shanghai STAR Market IPO
Chinese robot maker Unitree Robotics received registration approval on July 3 for an initial public offering on Shanghai's STAR Market, clearing the listing in a record 104 days. The company plans to raise about 4.2 billion yuan (roughly $618 million) by selling at least 40.4 million shares, a minimum 10% stake that implies a valuation of around 42 billion yuan. Proceeds will fund robot model development, robot-body research, new products and manufacturing capacity, with a market debut possible as early as late July.
Jun 9
Pentagon blacklists BYD, NIO, and Unitree as Chinese military firms
The U.S. Department of Defense published an updated Section 1260H list on June 8, naming 188 companies it says support China's military-civil fusion strategy — including EV giants BYD and NIO, humanoid-robot maker Unitree, and Alibaba, Baidu, CALB, EVE Energy, RoboSense, and TP-Link. The FY2024 NDAA prohibits DoD from contracting directly with any listed entity starting June 30, 2026 — fewer than three weeks away — with bans on indirect procurement through third parties following a year later; affected companies called the designations baseless and vowed legal action. The list had briefly appeared in the Federal Register in February before being unexpectedly withdrawn, making the June 8 republication official.
Nvidia and Unitree unveil Isaac GR00T H2+ humanoid reference platform
At COMPUTEX Taipei on June 1, Nvidia CEO Jensen Huang and Unitree announced the Isaac GR00T reference humanoid robot, combining Unitree's 1.8-meter, 68-kg H2 body (31 DoF) with Singapore-based Sharpa's 25-DoF dexterous hands and Nvidia's Blackwell-class compute and Isaac GR00T stack. The H2+ will be available starting in October, with initial deliveries going to AI labs including Allen AI, ETH Zürich, Stanford's Robotics Center, and UC San Diego — anchoring Unitree as Nvidia's flagship humanoid hardware partner just as the Chinese firm advances toward its Shanghai IPO.
Jun 3
Unitree clears Shanghai STAR Market review for $620M humanoid IPO
Shanghai Stock Exchange's Listing Review Committee approved Unitree Robotics' STAR Market IPO on June 1, just 73 days after acceptance — the fastest STAR Market track in recent memory — clearing the path for what would be China's first listed humanoid-robot company. Unitree is targeting roughly RMB 4.2B (~$620M) in proceeds at a ~RMB 42B (~$6.2B) initial market cap and disclosed 2025 revenue of RMB 1.70B and net profit of RMB 278M on shipments of more than 5,500 humanoid robots.
Operations & Revenue
StatusOperational — IPO cleared, Pentagon-listed
Profitable in FY2025 with 1.71B yuan revenue and ~590–600M yuan adjusted net profit (60.1% gross margin). Humanoids reached 51.5% of core revenue in 2025, with 5,500+ units sold globally at 32.4% market share. Q1 2026 shows revenue up 68% YoY to RMB 422.8M but adj. profit down 52% to RMB 40.3M as humanoid prices drop rapidly (average unit price fell from 593,400 yuan in 2023 to 167,600 yuan in 2025); the prospectus guides H1 2026 to RMB 1.05–1.13B revenue and RMB 236–283M adjusted net profit, a sequential margin recovery from the Q1 trough. The STAR Market listing review was approved June 1, 2026, CSRC registration approval followed on July 2–3, 2026, and the Shanghai Stock Exchange marked the registration 'effective' on July 6 — clearing the full review in a record ~104 days and putting Unitree on track to be China's first listed humanoid-robot maker — though as of July 15, 2026 the issuance has not yet priced or begun trading, with a final share price and subscription date still to be set (steps that typically follow registration by weeks) and a market debut possible as early as late July or August 2026. Separately, on June 8, 2026 the Pentagon named Unitree to its Section 1260H Chinese Military Companies list alongside Alibaba, Baidu, and BYD, creating uncertainty for U.S. government-affiliated research partnerships and DoD contracting starting June 30, 2026.
Revenue Streams
Humanoid robot sales (G1, H1, H2, R1)
Humanoid platforms sold into research, education, developer, and early commercial use cases. In 2025, humanoids became 51.5% of Unitree's core revenue, with more than 70% of units sold into research and education.
Quadruped robot sales (Go2, B2, A2 and variants)
Consumer and industrial quadrupeds remain a core business line for research, inspection, emergency response, and field operations. Unitree shipped more than 30,000 quadrupeds between 2022 and September 2025.
Robot components and developer hardware
Unitree also sells dexterous hands, robotic arms, LiDAR, joint modules, and other robot components, expanding beyond finished robots into a broader embodied-AI hardware stack.
Key Metrics
Employees
~480
Est. Annual Revenue
1.71B yuan ($250M) in FY2025; RMB 422.8M in Q1 2026 (+68% YoY), with adj. net profit compressed to RMB 40.3M (-52%) as humanoid pricing pressure intensifies. The STAR Market prospectus guides H1 2026 revenue to RMB 1.05–1.13B (+35.6% to +45.4% YoY) and adjusted net profit to RMB 236–283M (-22.0% to -6.4% YoY), signaling a sequential margin recovery from Q1's trough
2026Shanghai IPO filing follows first profitable year
Files for a Shanghai STAR Market IPO on March 20, 2026 after reporting 1.71 billion yuan in 2025 revenue, 600 million yuan in adjusted net profit, and 5,500 humanoid robots sold during the year.
2026Listing committee hearing set for June 1, Q1 profit drops 52%
The Shanghai Stock Exchange's Listing Review Committee schedules its 31st 2026 review meeting for June 1 to examine Unitree's STAR Market IPO application, only 73 days after acceptance. Disclosures ahead of the hearing show Q1 2026 revenue up roughly 68% YoY to RMB 422.8M, but adjusted net profit down about 52% YoY to RMB 40.3M as humanoid-robot price competition compresses margins.
2026STAR Market listing review approved on June 1
Shanghai's Listing Review Committee clears Unitree's STAR Market IPO on June 1, 2026 — only 73 days after acceptance — putting the company on track to be the first listed Chinese humanoid-robot maker, targeting RMB 4.2B (~$620M) at an initial market cap of about RMB 42B (~$6.2B).
2026Nvidia and Sharpa partner on Isaac GR00T H2+ humanoid
At COMPUTEX Taipei on June 1, 2026, Nvidia CEO Jensen Huang unveils the Isaac GR00T reference humanoid built on Unitree's H2 body, Sharpa's 25-DoF dexterous hands, and Nvidia's Blackwell-class compute and Isaac GR00T stack. The H2+ becomes available starting October 2026 with initial deliveries to Allen AI, ETH Zürich, Stanford and UC San Diego, positioning Unitree as Nvidia's reference humanoid hardware partner.
2026Pentagon designates Unitree a Chinese military company under Section 1260H
The U.S. Department of Defense's updated Section 1260H list published June 8, 2026 names Unitree Robotics among 188 companies said to support China's military-civil fusion strategy. The FY2024 NDAA prohibits direct DoD contracting with listed entities beginning June 30, 2026, with indirect procurement bans following a year later. Unitree's robots are widely used by U.S. universities and research labs — the designation creates immediate uncertainty for ongoing and future U.S. government-affiliated partnerships even as Unitree's STAR Market IPO advances.
2026Registration approved; STAR Market IPO cleared in record 104 days
On July 3, 2026 Unitree secured registration approval for its Shanghai STAR Market IPO — the final regulatory step before listing — clearing the process in a record 104 days. The company plans to raise about 4.2 billion yuan (roughly $618 million) by selling at least 40.4 million shares, a minimum 10% stake implying a valuation of around 42 billion yuan, with proceeds funding robot model development, robot-body research, new products and manufacturing capacity. A market debut could come as early as late July, making Unitree the first listed Chinese humanoid-robot maker.
2025R1 and H2 launch as humanoid scale accelerates
Unitree stages 16 H1 robots at China's Spring Festival Gala, hosts a G1 humanoid robot combat event, launches the low-cost R1 humanoid, unveils the H2 full-size platform, and becomes the world's top humanoid seller by volume in 2025.
2024G1 launches at a breakout price point
Introduces the G1 humanoid platform, bringing Unitree's low-cost playbook to humanoids with a starting price that undercuts most competitors and targets developers, research institutions, and education customers.
2023Go2, B2, and H1 expand the lineup
Launches the Go2 consumer quadruped, B2 industrial quadruped, and the first universal humanoid robot H1, broadening Unitree from low-cost quadrupeds into higher-end industrial and humanoid systems.
2021Go1 quadruped launches at $2,700
Launches the Go1 quadruped robot at $2,700, making dynamic legged robots accessible to researchers, developers, and hobbyists worldwide.
2016Founded in Hangzhou
Wang Xingxing founds Unitree Robotics in Hangzhou, China, with a mission to make high-performance legged robots affordable and accessible.
Funding
Cumulative disclosed raise · dated rounds
Round
Date
Amount
Investors
Source
Series A
2018
Undisclosed
Sequoia Capital China
Series B
2021
Undisclosed
Shunwei Capital, Sequoia Capital China
Series B2
February 2024
~$139M (nearly 1 billion yuan)
Meituan (lead), Source Code Capital, CITIC Securities (Goldstone), Shenzhen Capital Group, China Internet Investment Fund, Winreal Investment, Dunhong Capital Management
Series C
June 2025
Undisclosed (valuation ~12B yuan / ~$1.7B)
China Mobile fund, Tencent, Alibaba, Ant Group, Geely Capital, HongShan Capital (formerly Sequoia China), Jinqiu Capital
STAR Market IPO (review approved)
June 2026
4.2B yuan (~$620M) targeted at ~$6.2B initial market cap
Public markets (Shanghai STAR Market; listing review approved Jun 1, 2026)
