Shares in Chinese humanoid robot maker Unitree soar in Shanghai trading debut
Summary
Shares of Unitree, a leading Chinese humanoid robot maker, jumped as much as 629% during its first day of trading on the Shanghai Stock Exchange. The company raised about 6.1 billion yuan ($904 million) from the sale of shares, showing strong investor interest in China's robotics industry.Key Facts
- Unitree is one of China’s largest makers of humanoid robots.
- Its shares started trading on the Shanghai Stock Exchange’s STAR market.
- The shares were priced at 150.80 yuan ($22.36) each.
- On debut, shares rose up to 629% and were still up nearly 500% at midday.
- Unitree was founded in 2016 by entrepreneur Wang Xingxing.
- Humanoid robot production in China surpasses that of the U.S., with Unitree and AGIBOT shipping over 5,000 robots each last year.
- Many humanoid robots are currently used mainly for demonstrations or performances rather than practical applications.
- Unitree plans to use its IPO funds for advanced robot research and building its manufacturing facilities.
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