According to NetEase Technology, the "green channel" for Unitree, a leading company in embodied intelligence in China, to list on the A-share market has been halted. This mechanism was originally intended to provide priority review and simplified procedures for key enterprises that align with national strategic directions, to shorten the IPO process. Although the fast-track path has been blocked, sources said that Unitree's listing process has not been terminated, and the company is still in the normal queue for review.
As the most likely contender for the title of "first humanoid robot stock on the A-share market," Unitree's listing developments have always been seen as an industry barometer. According to the official website of the China Securities Regulatory Commission (CSRC), the company completed its IPO counseling under CITIC Securities last November. The halt of this green channel has been interpreted by the market as a "cooling" signal from the regulatory authorities. According to informed sources, the regulatory measures aim to prevent homogenized competition and valuation bubbles in the robotics sector due to excessive capital inflow, guiding the industry back to rationality.
Although it can no longer enjoy accelerated treatment, Unitree's solid capabilities remain strong. According to previously disclosed information, Unitree achieved revenue of over 1 billion yuan in 2024 and reached profitability. Its product line covers from consumer-grade robotic dogs priced at thousands of yuan to general-purpose humanoid robots priced at tens of thousands of yuan. Analysts believe that for leading companies with mature commercialization capabilities and technological barriers, going through the natural process of listing could help the market more comprehensively assess their long-term value.
