China’s backflipping robot maker Unitree pops 542% in Shanghai debut
Demand for the shares exceeded supply by more than 8,000 times, and the company will use proceeds to expand factories and embodied AI work.
- Hangzhou-Based Unitree Robotics began trading in Shanghai on Wednesday, becoming the first humanoid robot manufacturer to list on a mainland Chinese exchange.
- Investors bid more than 8,000 times the available shares, setting a STAR Market record, as the company raised 6.1 billion yuan, or about $905 million.
- Unitree produced roughly 18,000 robots by July, leading global manufacturers, and recently unveiled its "Superman" robot, which it claims can jump two meters and reach high speeds.
- China's Ministry of Industry and Information Technology promotes humanoid robotics to counter demographic shifts, though Unitree faces growing United States restrictions, including a Pentagon business ban imposed in June.
- Valued near 61 billion yuan, or nine billion dollars, Unitree establishes a public benchmark for over 150 Chinese humanoid startups, contrasting sharply with higher U.S. private valuations near $39 billion.
26 Articles
26 Articles
Robot manufacturer Unitree, which makes humanoid robots, rose sharply on the Shanghai Stock Exchange on Wednesday.
(Beijing=Yonhap News) Correspondent Jung Sung-jo = China's leading humanoid robot manufacturer Unitree (Yushu Technology) saw its stock price skyrocket by over 400% on its first day of listing on the Shanghai Stock Exchange...
Unitree raises hopes of mega market debut
Expectations are running high for Chinese humanoid robot maker Unitree Robotics' debut on Shanghai's STAR Market on Wednesday, after its record-breaking initial public offering was oversubscribed more than 8,000 times by retail investors, with some institutions predicting a potentially explosive first-day jump.
Unitree Robotics, a Chinese producer of humanoid robots based in Hangzhou, made its debut today on the Star Market in Shanghai with a 629% jump compared to the price of Ipo, reaching 1,100 yuan per share. (ANSA)
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