en.Wedoany.com Report, On March 20th, the Shanghai Stock Exchange officially accepted the application for the initial public offering of shares on the STAR Market by Unitree Technology Co., Ltd. As the second company to apply under the newly implemented pre-review mechanism for issuance and listing on the SSE STAR Market, Unitree's IPO has concurrently garnered significant attention from both the capital market and the industry. 
Financial data disclosed in the prospectus shows that Unitree's main business revenue has maintained rapid growth in recent years. From 2022 to 2024, the company achieved operating revenues of 123 million yuan, 159 million yuan, and 392 million yuan, respectively. Revenue for the period from January to September 2025 reached 1.167 billion yuan, with full-year operating revenue further increasing to 1.7 billion yuan. While revenue scale expanded rapidly, the company's revenue structure continued to optimize. The proportion of revenue from the humanoid robot business rapidly increased from 1.88% in 2023 to 51.53% from January to September 2025, forming a dual-pillar core revenue structure alongside quadruped robots.
On the profitability front, Unitree demonstrated strong core profitability. The gross profit margin of the company's main business steadily climbed from 44.18% in 2022 to 59.45% from January to September 2025. The company achieved a net profit of 94.5018 million yuan in 2024, and the net profit attributable to the parent company after deducting non-recurring gains and losses reached 600 million yuan in 2025, indicating significantly enhanced profitability.
According to the prospectus, the company plans to publicly issue no less than 40.4464 million new shares, raising a total of 4.202 billion yuan. The fundraising projects include four main directions: intelligent robot model R&D, robot body R&D, new intelligent robot product development, and intelligent robot manufacturing base construction, all centered on the company's main business. This fundraising will further strengthen Unitree's advantages in core technology R&D, product iteration, and large-scale production capacity, helping the company to continuously consolidate its leading position in the global robot market.
As a leading enterprise in the global quadruped and humanoid robot field, Unitree's products have achieved commercial application in various scenarios including consumer, education, industrial, and special applications. The acceptance of this STAR Market IPO application marks the official entry of this star robot company into the listing review process.
