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Physix Frontier · News Briefing Card (IT Home · Nov 6, 2026)

Unitree, CNPC Kunlun Manufacturing to form industrial embodied AI robot JV

KEY FACTS

  • Kunlun Manufacturing and Kunlun Capital plan to sign an agreement with Unitree Robotics and Fanjie Intelligence to jointly establish a new joint venture.
  • The simplified merger control filing is open for public comment from November 4 to November 13, 2026.
  • The joint venture is intended to engage in the industrial embodied intelligent robot solutions business.
  • After the transaction, Kunlun Manufacturing and its concert parties will hold 60%, while Unitree Robotics and Fanjie Intelligence will each hold 20%.
  • Kunlun Manufacturing, Unitree Robotics and Fanjie Intelligence will jointly control the joint venture.

KEY DATA

60%Kunlun Manufacturing and concert parties stake
20%Unitree Robotics stake
20%Fanjie Intelligence stake
2.23%Kunlun Capital share of Unitree IPO offering

PHYSIX OBSERVATION

The CNPC group is taking a 60% controlling stake to pull a robotics company into energy-equipment scenarios, while Unitree trades a 20% equity stake for a landing point. The signal is clear: embodied intelligence is moving from demos to hard requirements in heavy industries such as oil and gas, and whoever holds the scenarios sets the standards. For Unitree, binding a major customer before its IPO is a valuation story, but with only 20% it has limited say and must guard against being reduced to a supplier.

Source: IT Home report