Backed by DeepSeek, Unitree IPO tests investor appetite for China’s AI robotics boom

The long-awaited initial public offering of Unitree Robotics, which values the Hangzhou-based firm at 60.99 billion yuan (US$9 billion), is set to serve as a valuation benchmark for China’s booming embodied-AI sector, buoyed by retail investor excitement and high-profile AI backers like DeepSeek.Widely billed as “mainland China’s first humanoid stock”, Unitree has priced its IPO on Shanghai’s Star Market at 150.8 yuan per share, according to a filing released Thursday evening. The firm will sell 40.45 million new shares to raise 6.1 billion yuan – above its initial 4.2 billion yuan target.Backers including AI unicorn DeepSeek and tech giant Tencent Holdings joined the strategic placement, alongside state-backed giants China National Petroleum Corp, China-southern-power-grid" class="entity-link entity-organization" data-entity-id="180257" data-entity-type="organization">China Southern Power Grid, China-telecom" class="entity-link entity-organization" data-entity-id="15182" data-entity-type="organization">China Telecom, Citic Securities and the National Council for Social Security Fund.