Unitree and CNPC plan joint venture to develop industrial embodied AI; Kunlun Manufacturing holds 60% stake

According to public information released by the Beijing Municipal Market Supervision Administration, China National Petroleum Corporation (CNPC) Kunlun Manufacturing Co., Ltd. and its acting-in-concert party Kunlun Capital plan to jointly establish a joint venture with Unitree Robotics and Beijing Fanjie Intelligent Technology Co., Ltd., focusing on the research, development, and application of industrial embodied intelligent robotics solutions. This simplified merger control case has entered the public consultation phase, with the consultation period running from November 4 to November 13, 2026. Per the equity structure disclosed in the announcement, following completion of the transaction, Kunlun Manufacturing and its acting-in-concert party will collectively hold 60% of the joint venture’s shares, while Unitree Robotics and Beijing Fanjie Intelligent Technology Co., Ltd. will each hold 20%. The three parties will exercise joint control over the joint venture. The joint venture’s business scope covers inspection and emergency response operations in oil & gas, refining & chemical, and storage & transportation scenarios, as well as specific applications at gas stations and integrated energy stations offering charging and battery-swapping services. Previously, Kunlun Capital had already served as a key…