Unitree Robotics, one of China’s hottest technology startups, is planning an initial public offering that could value the company at up to 50 billion yuan ($7 billion), and help establish itself as a global leader in humanoid robots. So-called humanoid robots are artificial intelligence-powered machines designed to resemble humans in appearance and movement, with applications in the industrial and service sectors. Zhejiang-based Unitree has established itself as a leader in China’s humanoid robot space, and its listing plans could make it one of the first companies specializing in the technology to go public. The company’s fresh valuation target, first reported by Reuters, citing two people with knowledge of the plans, would mark a sharp jump from its latest fundraising round reported on in June. At the time, the company had attracted major backers such as Geely, Alibaba and Tencent. Unitree, in a post on its X account on Aug. 27, outlined its plans to IPO, saying that it was actively advancing listing preparations and was expecting to submit the application documents in the fourth quarter of the year.

Full report : Unitree Robotics is planning an initial public offering that could value the company at up to 50 billion yuan ($7 billion).