Hong Kong (Reuters) – China’s Unite Robotics is looking for an assessment of up to 50 billion yuan ($ 7 billion) for its initial public offering, two sources with knowledge of the plans of one of the newest and important startups in the country said.
The ones captured popular imagination around the world after the company released videos last year that showed them with human -like abilities such as walking, climbing and loading loads.
Its founder, Wang Xingxing, along with Artificial Intelligence Startup, was among a group of executives who attended a rare meeting with President Xi Jinping in February, as he was seen as a turning point for China’s policies for the technology sector.
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The popularity of startups such as Unite and Deepseek occurs as China is investing billions of dollars in robotics, semiconductors and AI, amid the aging of the population and the growing competition with the US in relation to advanced technologies.
UNITEE said last week on its X Account that it was actively advancing in the preparations for the offer and expected to send the listing documents in the fourth quarter of the year.
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If successful, UNITEE’s offer will be one of the largest local technology listings of recent years and will occur by the time Beijing intensifies efforts to support their technology champions to take advantage of capital markets for their financing needs.
Chinese stock exchanges are experiencing a gradual resumption of IPOS after a pause of almost two years, due to a more rigorous regulatory analysis of the requests and a volatile stock market.
(Report by Kane Wu and Julie Zhu in Hong Kong; Additional Report by Eduardo Baptista in Beijing)
