Chinese Robot Maker Unitree Seen Worth over $7.4 Billion After IPO, Citic Says
Citic Securities valued the Hangzhou robot maker at 50.6 billion to 55.9 billion yuan as it seeks 4.2 billion yuan in its Shanghai listing.
- Unitree Technology expects a valuation exceeding 50 billion yuan for its upcoming Shanghai IPO, according to sponsor Citic Securities.
- The Hangzhou-based manufacturer competes with Tesla and Boston Dynamics in making humanoid robots, positioning itself as a "globally-renowned, world-leading maker of high-performance, general purpose robotics," Citic Securities said.
- Citic Securities values Unitree at roughly 20 times this year's expected sales and about 80 times forecast earnings, with projections of 50.6 billion to 55.9 billion yuan within 12 months.
- Amid rivalry between China and the United States, Washington added foreign-made advanced robots to its Covered List, restricting U.S. sales; the U.S. accused Unitree of aiding Beijing's military in June.
- Following Wednesday's IPO price enquiry, Unitree will set its final price on Thursday and accept investor subscriptions on Friday.
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Chinese Robot Maker Unitree’s IPO Prospectus Reveals Heavyweight Tech Backers
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The Economic Times
Times of IndiaChinese robot maker Unitree seen worth over $7.4 billion after IPO, Citic says
Unitree Technology expects a valuation exceeding fifty billion yuan after its Shanghai IPO. The robot maker aims to raise funds for innovation and production expansion. This listing occurs amid heightened tech rivalry between China and the United States. Washington has recently restricted advanced foreign-made robots from U.S. sales. Unitree will set its IPO price soon and accept investor subscriptions.
Meet Unitree Robotics, founded by Wang Xingxing, and the CEO's trajectory in the cheaper humanoid race; also understand the GD01 mecha robot.
Manufacturer's public offer takes place in the middle of the technological dispute between China and the United States and should strengthen the company's investments in robotics and artificial intelligence
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