Chinese robot maker Unitree Technology is expected to be valued at more than 50 billion yuan ($7.4 billion) after its planned Shanghai IPO, according to a report by Citic Securities.
Company Overview
Unitree, which competes with Tesla and Boston Dynamics in making humanoid robots, aims to raise 4.2 billion yuan to fund innovation and production. The company is seen as a key player in China’s strategic industries, particularly in the tech rivalry with Washington.
Citic Securities’ report values Unitree roughly 20 times this year’s expected sales, and about 80 times forecast earnings. Unitree is described as a globally-renowned, world-leading maker of high-performance, general purpose robotics.
IPO and Market Context
The IPO comes amid heightened rivalry between China and the United States. Washington recently added foreign-made advanced robots to its Covered List, restricting their ability to obtain the equipment authorization required for U.S. sales. Unitree will set its IPO price on Thursday and accept investor subscriptions on Friday.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
