Article · AI translation
IT Home reported on November 6 that information published by the Beijing Municipal Administration for Market Regulation shows that CNPC Kunlun Manufacturing Co., Ltd. (“Kunlun Manufacturing”) and its concert party, Kunlun Capital, plan to sign an agreement with Unitree Robotics Co., Ltd. (“Unitree Robotics”) and Beijing Fanjie Intelligent Technology Co., Ltd. (“Fanjie Intelligent”) to jointly establish a joint venture.
The relevant simplified merger review case has entered its public notice period, which runs from November 4 to November 13, 2026.
According to the published information, the joint venture plans to provide industrial embodied AI robotics solutions. After the transaction, Kunlun Manufacturing and its concert party will hold a 60% stake in the joint venture, while Unitree Robotics and Fanjie Intelligent will each hold a 20% stake. Kunlun Manufacturing, Unitree Robotics and Fanjie Intelligent will jointly control the venture.
IT Home notes: Kunlun Manufacturing was registered in Xiong'an New Area, Hebei Province, on October 20, 2023, and is primarily engaged in energy equipment manufacturing. Its ultimate controlling entity is China National Petroleum Corporation, whose main businesses include oil and gas, engineering and technical services, and petroleum engineering construction.
In the earlier strategic placement for Unitree Robotics' IPO on the STAR Market, CNPC's Kunlun Capital had already joined as a major investor, taking up 2.23% of the shares in that public offering. The two sides have signed a Memorandum of Strategic Cooperation specifying cooperation on robotics applications in oil and gas settings.