The IPO application of Unitree Robotics for the Sci-Tech Innovation Board was officially approved on June 1st, setting a new record for the fastest review since the implementation of the board's "pre-review" mechanism.

According to the issuance plan, Unitree Robotics plans to publicly issue no less than 40.4464 million new shares, aiming to raise approximately 4.202 billion yuan. The funds will be directed towards four major projects: intelligent robot model research and development, robot body research and development, new intelligent robot product development, and the construction of an intelligent robot manufacturing base.

Key Supply Chain Partners

The listing process of Unitree Robotics has brought its domestic robot supply chain into focus as a key window for observing the embodied intelligence industry in the capital markets.

Market analysis indicates that Unitree's supply chain is predominantly composed of domestic suppliers, with a localization rate exceeding 90%, demonstrating strong characteristics of self-sufficiency and controllability.

Its successful listing is expected not only to enhance its own R&D investment and production capacity but also to further benefit upstream enterprises specializing in core components, sensors, chips, and actuators.

Sensing Systems and Perception

From the perspective of robot perception systems, sensors such as LiDAR and 3D vision are crucial for environmental recognition, positioning, and obstacle avoidance.

Unitree has integrated multiple perception solutions into its related products. ROBOSENSE (ASX: RSI?)

RoboSense is a key supplier of LiDAR and perception solutions for Unitree. The two companies maintain a stable and ongoing collaboration focused on scenarios like environmental perception, spatial recognition, and positioning/obstacle avoidance for robots, with RoboSense continuously involved in supplying perception systems for Unitree's robot products.

The industry believes that the advancement of Unitree's IPO will further increase market attention on the core sensor supply chain for robots. Perception system companies like RoboSense, which possess the capability to expand into both automotive and robotics application scenarios, are also poised to benefit from the development of the embodied intelligence industry chain.

Actuation and Motion Systems

In the execution system, components such as joint modules, reducers, lead screws, guide rails, and motors directly determine a robot's motion precision, load capacity, and response speed.

Zhongda Deli has disclosed supplying core components like reducers to Unitree. Meihu Stock disclosed supplying reducer joint module components. Wolong Electric Drive provides key components including high-torque-density joint modules, servo drivers, and frameless torque motors, and indirectly holds shares in Unitree through Jinshi Investment.

Beite Technology is collaborating with Unitree on the R&D of lead screw products for humanoid robots and has established corresponding small-batch production lines. Best Precision Industrial provides high-precision lead screw assemblies and guide rail assemblies through its wholly-owned subsidiary Yuhua Precision Machinery.

Moons' Industries supplies high-torque motor modules, while Harmonic Drive provides harmonic reducers for Unitree.

Control, Power, and Structure

Chips and control systems are fundamental for robots to achieve motion planning, joint control, and multi-sensor coordination. Rockchip's chip solutions have been applied in Unitree's humanoid robots and quadruped robot dogs.

The power system and structural materials are critical for a robot's endurance, safety, and weight reduction. For energy, related Unitree products utilize 18650 cylindrical lithium battery cells from Blue Lithium Core.

For structural components, Kingfa Science & Technology provides lightweight modified plastics used in parts like the robot body shell. As humanoid and quadruped robots accelerate towards large-scale application, the importance of power batteries, lightweight materials, and structural design is further increasing.