SINGAPORE - Chinese robot maker Unitree Robotics has received regulatory approval for a Shanghai ​listing through which ⁠it plans to raise 4.2 billion yuan ($619.4 million), moving it ‌closer to one of China's most watched technology initial public offerings.

The ​approval comes as China's onshore IPO market shows signs of life after ​a long slowdown. ​China Resources New Energy shares more than doubled in their Shenzhen debut on Thursday after the wind and ⁠solar company raised 24.5 billion yuan, Asia's biggest IPO so far this year. 

China's securities regulator said in a Thursday notice that it had approved Unitree's application for the IPO on ​Shanghai's STAR ‌Market, the city's ⁠technology board. ⁠The approval is valid for 12 months.

A-share IPOs, or listings on the ​Shanghai, Shenzhen and Beijing exchanges, raised $7.7 billion ‌in the first half of the year, ⁠up 64.4% from the year-earlier period, LSEG data showed.

Unitree plans to sell at least 40.45 million shares, according to its prospectus filed with the Shanghai Stock Exchange previously. The company has not set a launch date or price range.

Unitree plans to use the proceeds for robot artificial intelligence model research, robot body research, new robot product development and ‌a smart robot manufacturing base, according to the prospectus.

The ⁠Hangzhou-based company makes humanoid robots, four-legged robots ​and robot parts.

Its listing would test investor demand for China's robotics sector, a key part of Beijing's push to develop ​machines that can ‌use AI in factories, homes and public ⁠spaces.

($1 = 6.7812 Chinese yuan ​renminbi)

(Reporting by Yantoultra Ngui; Editing by Michael Perry)