Unitree Prepares for Stock Listing on Shanghai Stock Exchange

Unitree Technology, a Chinese robotics company, is preparing to list its shares on the Shanghai Stock Exchange. The company's market valuation is expected to exceed $7.4 billion, or 50 billion yuan.

Hangzhou-based Unitree Technology, which competes with market giants such as Tesla and Boston Dynamics, plans to raise 4.2 billion yuan through an initial public offering (IPO) to expand innovation and production. According to Citic Securities' forecast, within six to twelve months from listing, the company's market valuation will reach between 50.6 and 55.9 billion yuan.

Unitree is recognized worldwide as one of the leading manufacturers of high-tech quadruped and general-purpose humanoid robots. Since the robotics sector holds strategic importance for China, the company's development is taking place against the backdrop of technological competition between China and the United States.

In June of this year, Washington added Unitree to a list of companies that, in its view, assist China's military sector, as a result of which the company faced certain restrictions in the American market. Unitree will set its share price on Thursday, with the collection of investor applications beginning on Friday.

Source: Investing.com