【New Stock IPO】"Hangzhou's Six Young Dragons" Unitree Robotics' STAR Market IPO Application Accepted, Plans to Raise Over 4.2 Billion Yuan RMB, Earnings More Than Doubled Last Year to Nearly 300 Million

SocialAnxietyStaker · 2026-03-20T12:16:06+00:00

Unitree Technology has applied to the Shanghai Stock Exchange for an IPO on the STAR Market, aiming to raise over 4.2 billion yuan. Last year, its revenue increased by 336% to 1.71 billion yuan, with a net profit of 288 million yuan. The company specializes in humanoid robots, with shipments exceeding 5,500 units last year. Its goal for this year is to ship between 10,000 and 20,000 units. Major shareholders include Meituan and Sequoia Capital China. Unitree will strengthen technological R&D and promote high-quality development in the robotics industry.

SocialAnxietyStaker

2026-03-20 12:16:06

Abstract generation in progress

Known as one of the “Hangzhou Six Little Dragons,” domestic robot company Yu Shu Technology recently applied for an IPO on the STAR Market of the Shanghai Stock Exchange, and it has now been accepted. The company plans to raise over 4.2 billion yuan (RMB), with CITIC Securities as the sponsor. According to the prospectus, Yu Shu Technology achieved a net profit of 288 million yuan last year, up 204% year-on-year; revenue increased by 336% to 1.71 billion yuan, mainly due to a significant boost in product sales.

Founded in 2016, Yu Shu Technology focuses on developing humanoid robots. Last year, it shipped over 5,500 units, maintaining industry leadership. Founder and Chairman Wang Xingxing revealed that this year’s shipment target is between 10,000 and 20,000 units.

It is worth noting that Wang Xingxing is only 36 years old. After Yu Shu Technology’s humanoid robots first appeared on CCTV’s Spring Festival Gala in 2025 and gained popularity, they made a second appearance in 2026, showcasing an upgraded martial arts performance called “WuBOT.” The robots G1 and H2 performed alongside human martial artists, demonstrating high-difficulty moves such as backflips, obstacle crossing, spear and nunchaku martial arts, as well as drunken fist performances.

▼Click the image to enlarge

Meituan Sequoia China holds shares

Yu Shu completed Series C financing in June last year, raising nearly 700 million yuan. Investors included China Mobile (00941), Tencent (00700), and Alibaba (09988). Currently, Wang Xingxing directly owns 23.8% of Yu Shu, controls 10.9% through Shanghai Yuyi, totaling 34.8%, and, together with the incentive platform, controls 68.78% of voting rights.

Other shareholders include Meituan (03690) with over 9.6%, Sequoia China with 7.1%, and Matrix Partners with 5.45%.

Yu Shu stated that it will continue to focus on cutting-edge technology research and development. By going public, it aims to enhance financial strength, optimize corporate governance, and improve talent incentives. The company also plans to accelerate the high-quality development of the embodied intelligence industry chain through continuous technological innovation, leading the global robotics industry toward scalable scenario applications.

Source: Shanghai Stock Exchange Announcement

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