China’s Robot Unicorn Unitree Eyes IPO—Should the West Worry?｜Owlmygod

Unitree Robotics, China’s most prominent humanoid robot manufacturer, has restructured into a joint stock limited company—sparking speculation of a near-term IPO. While the move signals business expansion, it also raises concerns for the United States and its allies about the growing global reach of China’s state-influenced tech sector.

According to Chinese corporate database Qichacha, Unitree transitioned from a limited liability company to a joint stock structure, enabling it to issue and transfer shares. This corporate shift allows the company to raise significant capital as it scales up its operations and positions itself for a potential listing, possibly in Hong Kong. State-run media such as Securities Times confirmed the restructuring was for “development needs.”

Founded in 2016 and based in Hangzhou, Unitree is backed by powerful stakeholders, including former Sequoia China (now HongShan), delivery giant Meituan, and the China Internet Investment Fund—a government-controlled investment vehicle. This mix of private and state investment is emblematic of how China integrates its industrial ambitions with national strategic goals.

Unitree’s rapid rise is inseparable from the Chinese government’s broader push to dominate the artificial intelligence and robotics space. Its humanoid robot, G1, and its range of robot dogs helped the company turn a profit as early as 2020. These robots are not just commercial novelties. They are actively promoted as symbols of national pride—showcased at high-profile events like China’s Spring Festival Gala, and placing the company’s 35-year-old CEO Wang Xingxing in front of Chinese President Xi Jinping during elite business forums.

This intertwining of technological innovation with political ambition should sound alarms in Washington.

The Chinese government has made it clear that AI and robotics are core pillars of its future industrial policy. According to research firm TrendForce, over 10 domestic manufacturers in China began mass production of humanoid robots in 2024 alone, with the sector’s mainland output expected to reach 4.5 billion yuan (US$616 million) this year. With companies like Unitree leading the way, China is exporting not only hardware but also a model of government-directed innovation and surveillance-compatible machinery.

Why should the U.S. be concerned?

1. Dual-Use Technology Risk: Humanoid robots, especially those with AI capabilities, can be used in logistics, security, crowd control, and even military applications. With Unitree’s robot dogs already in use and their humanoids advancing, the technology could easily be adapted for domestic repression or overseas espionage activities.
   
2. Tech Ecosystem Influence: Unitree’s success is not isolated—it benefits from the same ecosystem that powers TikTok’s parent company ByteDance and facial recognition giant SenseTime. These firms, many with close government ties, extend China's digital footprint abroad while collecting vast amounts of user and market data.
   
3. IPO Risks and Global Expansion: If Unitree lists on a global exchange, especially in Hong Kong, it could gain international legitimacy and foreign capital while remaining tied to Chinese state interests. This raises strategic and ethical concerns for foreign investors and regulators.
   
4. Narrative Warfare: China is not only exporting products—it is exporting narratives. Unitree’s carefully curated image—friendly robots dancing on national TV—masks the deeper geopolitical play at work: technology as a soft power tool to shape perceptions and influence foreign markets.
   

In short, Unitree’s IPO ambitions are not just about finance—they’re about global influence. As China backs its tech champions with state muscle and global platforms, the U.S. must remain vigilant. It’s not just about who builds the robots—it’s about who programs the values behind them.