Unitree Robotics IPO Application Accepted; Nearly 20 Listed Companies Respond Regarding Their Shareholding and Investment Status

CryptocurrencySniper · 2026-03-22T18:23:52+00:00

Unitree Robotics Co., Ltd. has applied for an IPO on the STAR Market, aiming to raise 4.202 billion yuan. Its robot production and sales rate exceeds 95%, with a planned annual output of 190,000 units, but only over 5,000 units were sold in 2025. Its main customer is JD.com, and it has developed a companion robot dog that runs alongside users. The founder has grand ambitions for AGI.

CryptocurrencySniper

2026-03-22 18:23:52

Abstract generation in progress

Recently, the Shanghai Stock Exchange accepted the IPO application of Yushu Technology Co., Ltd. on the STAR Market, with a proposed fundraising amount of 4.202 billion yuan.

According to incomplete statistics, 19 A-share listed companies including Shiyida, Zhongke Chuangda, Jingxing Paper, Jinfang Technology, Huayuan Holdings, Langke Intelligent, Xing Shuail, Shoukai Shares, Jinggong Technology, Zhejiang Media, Shenxinfu, Qipilang, Yayun Shares, Dazhong Public Utilities, Wolong Electric Drive, Zhongji Xuchuang, Mars People, China News Group, and Snow Dragon Group have responded on platforms like Interactive Easy to invest in Yushu Technology. On March 12, Shiyida stated on the interactive platform that the company indirectly holds shares in Yushu Technology Co., Ltd.

Yushu Technology might be the most talked-about IPO in recent years on the A-share market. What interesting information does its prospectus reveal?

Yushu Robotics has a production and sales rate exceeding 95%, meaning it has no inventory, with orders fully booked, almost producing and selling one robot at a time.
Yushu’s fundraising plan is to produce 190,000 robots annually, of which 75,000 are humanoid. However, by 2025, they have only sold just over 5,000 units. In simple terms, their sales in 2025 are less than one-tenth of their future planned capacity.
The prospectus states that Yushu’s embodied intelligent model has completed deployment testing, with the task of “autonomously assembling joint motors,” and mentions that robots are already assisting in assembly, testing, and material handling in factories. In other words, Yushu’s robots are built using robots.
Many believe that research institutes and universities are the biggest markets for humanoid robots. But the prospectus shows that Yushu’s largest customer is JD.com, possibly for self-operated sales, and the best market is commercial retail. Additionally, Yushu has developed a robotic dog for companionship, specifically serving sports enthusiasts. Perhaps inspired by an engineer walking their dog.
Founder Wang Xingxing wrote in a letter to investors, “Let’s work together to realize humanity’s ultimate dream: AGI.” It seems that, compared to pure robots, this engineer’s dream is still artificial intelligence.

(Source: 21st Century Business Herald)

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