SHANGHAI/SINGAPORE (Aug 5): Chinese robot maker Unitree Technology is expected to be ​valued at more than 50 billion yuan (US$7.4 billion or RM30.29 billion) after ‌its planned Shanghai IPO, according to a report by Citic Securities, which is sponsoring the initial public offering.

Citic Securities expected the Hangzhou-based company to be ​worth 50.6 billion to 55.9 billion yuan six to 12 ​months after listing later this month. The valuation report, ⁠distributed to investors and seen by Reuters, is largely seen ​as guidance ahead of Wednesday's IPO price enquiry.

Unitree, which competes with ​Tesla and Boston Dynamics in making humanoid robots, aims to raise 4.2 billion yuan to fund innovation and production.

Robotics is seen as one of China’s strategic ​industries key to Beijing’s tech rivalry with Washington.

Citic Securities' report ​values Unitree roughly 20 times this year’s expected sales, and about 80 times ‌forecast ⁠earnings.

Unitree, which also makes quadruped robots is “a globally-renowned, world-leading maker of high-performance, general purpose robotics,” Citic Securities said in the report.

“It adheres to a prudent R&D investment strategy, while also establishing its leading ​position in understanding ​the embodied intelligence ⁠ecosystem.”

The IPO comes amid heightened rivalry between China and the US. Washington recently added foreign-made ​advanced robots to its Covered List, restricting their ability to ​obtain ⁠the equipment authorisation required for US sales.

In June, the US added Unitree and other major Chinese tech firms to a list of companies ⁠it ​believes are aiding Beijing's military.

Unitree will set ​its IPO price on Thursday and accept investor subscriptions on Friday.

Uploaded by Siow Chen Ming