Chinese tech companies are racing into the capital market with humanoid robot maker Unitree Robotics as the latest example. The China Securities Regulatory Commission (CSRC) greenlit the company's initial public offering (IPO) registration on Thursday, according toa notice on its official website.

The CSRC said it had received the audit opinion submitted by the Shanghai Stock Exchange regarding Unitree's application for an IPO of shares and listing on the STAR Market, along with its registration application documents, according to the notice.

After the approval of the IPO registration, the company shall strictly implement the issuance in accordance with the prospectus and the issuance and underwriting plan submitted to the SSE. From the date of the registration approval until completion of the stock issuance, if any major events occur, the company shall promptly report them to the SSE and handle them in accordance with relevant regulations, read the notice.

On June 1, Unitree passed the review of its IPO application on the country's STAR Market. The company's prospectus states it plans to raise 4.2 billion yuan through the IPO. The proceeds will be used for projects involving research and development of intelligent robot models and robotic bodies, development of new intelligent robot products, and construction of an intelligent robot manufacturing base.

"This marks the company officially opening the door to the capital market. It will raise a substantial amount of long-term equity capital through its IPO for research and development," Hu Qimu, a professor at the Maritime Silk Road Institute of Huaqiao University, told the Global Times on Tuesday.

In addition to Unitree, a number of other Chinese technology enterprises have tapped into the capital market.

The SSE disclosed on Tuesday that it has accepted the STAR Market IPO filing of XPHOR, a Shanghai-based silicon photonics company. Focused on high-performance silicon photonic integrated chips, the firm plans to raise 2.43 billion yuan through its IPO. Moreover, Shanghai Enflame Technology Co, one of the country's "four GPU unicorns," also had its STAR Market IPO application approved by the listing review committee in June.

Hu noted that in the high-tech sector, technological iteration is currently very rapid, which means that companies need to continuously invest substantial resources into research and development, with potentially longer return cycles. The capital market can provide strong support for their stable development by effectively allocating resources.

Wu Qing, chairman of the CSRC, said at the 2026 Lujiazui Forum in Shanghai on June 17 that the commission will expand the applicable range of its fifth listing standards for the STAR Market in the SSE to the artificial intelligence sector. In addition, it will support more "hard tech" enterprises in fields such as quantum technology, bio-manufacturing, embodied intelligence and beyond to list on the STAR Market.

In June 2025, the CSRC rolled out a package of measures to further reform the STAR Market, including a pilot pre-review mechanism for IPO applications from high-quality technology companies. Unitree is the second company to file an IPO application under this mechanism, according to the Xinhua News Agency.

Hu said that the capital market not only enables the real economy to allocate resources more efficiently to achieve growth and expansion, but also serves as an important vehicle for all people to share the dividends of strategic emerging industries and future industries.

"The CSRC's adjustments reflect the essential requirement of finance to serve the real economy, which will inject strong momentum into China's economic high-quality development though supporting the development of emerging tech companies," the expert added.