Shanghai Stock Exchange has accepted the initial public offering (IPO) application of Ytree Technology, marking a significant step towards the company becoming the first publicly listed humanoid robotics firm on the A-share market, according to a statement released on Wednesday, March 20, 2026.
Ytree Technology is seeking to raise 4.202 billion yuan (approximately $585 million USD) through the IPO on the Shanghai Stock Exchange’s STAR Market, a board dedicated to supporting technology and innovation-driven companies. The application has entered the “pre-review” stage, a process indicating heightened scrutiny and potential for expedited approval, according to reports from the Securities Times.
The company has demonstrated a rare combination of scale and profitability within the high-investment, high-performance general robotics sector. Ytree reported cumulative sales of over 30,000 quadruped robots between 2022 and September 2025. The company’s 2025 annual shipment of humanoid robots exceeded 5,500 units – excluding wheeled bipedal robots – positioning Ytree as the global leader in humanoid robot shipments, according to the company’s prospectus.
Ytree’s development spans from quadruped robots to humanoid robots, with continuous research and iteration. The company has independently developed core robotics algorithms including embodied intelligence, reinforcement learning, motion control, and perception interaction. It also develops intelligent systems such as energy management and motor drives, alongside core components like high-performance motors, reducers, dexterous hands, LiDAR, and various sensors.
The IPO proceeds are intended to bolster Ytree’s research and development capabilities, expand production capacity, and support its growing market presence. The company’s success in scaling production and achieving profitability sets it apart in a sector often characterized by high costs and lengthy development cycles.
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