Unitree Robotics' application for an IPO in Shanghai has been approved by the China Securities Regulatory Commission, according to a notice posted on the watchdog's website today. The startup plans to raise about CNY4.2 billion (USD613 million) in a Start Market listing. For the first half of this year, Unitree expects net profit, excluding non-recurring gains and losses, of between CNY236 million and CNY283 million (USD34 million and USD41 million).