(Yicai) Sept. 3 -- Unitree Robotics said the Chinese robotics startup will apply to go public in the fourth quarter of this year.

“The company is actively advancing preparations for its initial public offering," Unitree said yesterday in a post on social media platform X. The Hangzhou-based firm expects to file between October and December, when relevant operating data will be disclosed, but did not identify any particular bourse.

Sales of quadruped robots, humanoid robots, and component products account for about 65 percent, 30 percent, and 5 percent, respectively, of Unitree’s sales, it noted.

Around 80 percent of the quadruped robots were used in research, education, and consumer fields, with the remaining 20 percent used in industrial areas, including inspection and firefighting, Unitree added. Humanoid robots were entirely used in research, education, and consumer fields.

According to a notice released by the China Securities Regulatory Commission on its website on July 18, Unitree has hired Citic Securities as advisor for the IPO.

Founded in 2016, Unitree has a registered capital of CNY364 million (USD51 million). Founder and Chief Executive Wang Xingxing, who is also the company's legal representative, directly and indirectly owns almost 35 percent of the business.

Unitree’s investors include Meituan, Tencent Holdings, Alibaba Group Holding, HongShan Capita Group, Matrix Partners China, Beijing Robot Industry Development Investment Fund, and Shenzhen Capital Group. Its latest valuation exceeded CNY10 billion (USD1.4 billion).

Since Unitree's rise to popularity early this year, several stocks associated with or suspected of being associated with the company have surged. Many listed firms released statements to deny they had partnered with Unitree or that their deals with it only accounted for a small proportion of their businesses, while others confirmed their collaborations.

For example, Zhongji Innolight said it does not directly hold shares in Unitree, but a fund it has invested in owns some. Zhongji Innolight's stock [SHE: 300308] has more than tripled in value so far this year.

Digital China Group recently informed investors that it is partnering with Unitree on the sale of robotics products and the provision of scenario-based application solutions for different industries, such as energy and power, emergency fire services, petrochemicals, mining, and transport. Digital China’s shares [SHE: 000034] have gained 22 percent so far this year.

Shenzhen Huaqiang Industry said in late July that it had established a partnership with Unitree, but the tie-up was still in the development stage, with the scale of the collaboration yet to be expanded. Huaqiang Industry’s stock [SHE: 000062] has risen 24 percent year to date.

Editor: Futura Costaglione