Chinese humanoid robot maker Unitree opens over 600% higher in Shanghai debut
The trading debut follows Unitree's roughly US$900 million initial public offering last week.
Shares in Chinese humanoid robot maker Unitree surged over 600 percent higher in its Shanghai debut on Wednesday (August 19), trading at 1,100 yuan on the tech-focused STAR Market - more than six times its IPO price of 150.8 yuan. The debut came just a week after Unitree's IPO raised approximately US$900 million. The stock's meteoric rise coincides with the opening of the World Robot Conference in Beijing, and analysts view it as a significant milestone for China's robotics industry - a crucial arena in the Sino-US tech rivalry.
The offering offers mainland investors direct access to a leading player in the sector, potentially setting precedents for future robotics IPOs and valuations of private robotics companies.
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