Insider Brief
- Yushu Technology, a Hangzhou-based robotics firm specializing in humanoid robots and robotic arms, has completed IPO guidance filings and is preparing for a potential listing as soon as 2025.
- The company reports annual revenues exceeding 1 billion yuan ($139 million) and has maintained profitability since 2020, positioning itself among China’s few profitable robotics firms.
- Backed by major investors including China Mobile, Tencent, Alibaba, and Ant Group, Yushu recently won a $6.3 million contract to supply humanoid robots to China Mobile’s Hangzhou subsidiary, as it aims to capitalize on growing demand for consumer and industrial robotics.
China’s Yushu Technology is preparing for a potential initial public offering as soon as 2025, aiming to capitalize on growing demand for humanoid robots and robotic arms.
The Hangzhou-based robotics company has completed its IPO guidance filing with China’s Zhejiang Securities Regulatory Bureau, according to Shanghai Securities News. CITIC Securities is advising Yushu on the listing process, supported by Beijing Deheng Law Firm and Rongcheng Accounting Firm. A formal assessment on whether Yushu meets IPO conditions is expected as early as October 2025.
Yushu Technology, controlled by founder Wang Xingxing, designs, manufactures, and sells consumer and industrial robots, including four-legged robotic dogs and humanoid robots. The company claims annual revenues exceeding 1 billion yuan (about $139 million), according to statements by Wang at the Summer Davos Forum, and has reportedly been profitable each year since 2020, according to early investor Zhao Nan of SevenUp Capital.
The firm’s focus includes consumer robots like its quadruped robot dog and developer-focused humanoid robots. Its flagship G1 humanoid robot drew attention with a launch price of 99,000 yuan (roughly $13,600). A new humanoid model, expected to have 26 degrees of freedom, is anticipated soon, though no official pricing has been announced.
Yushu Technology has also secured significant commercial contracts. In June, it won a bid to supply China Mobile’s Hangzhou subsidiary with small humanoid bipedal robots, computing backpacks, and dexterous robotic hands, a project worth over 46 million yuan ($6.3 million). China Mobile Communications fully owns the Hangzhou subsidiary.
In June 2025, Yushu completed its C-round fundraising, led by China Mobile’s fund, Tencent, Alibaba, Ant Group, Geely Capital, and others. Earlier, in February 2024, it raised nearly 1 billion yuan in a B2 funding round that included Meituan and Source Code Capital.
