Chinese robot maker Unitree debuts in Shanghai with 486% surge

Unitree Robotics, a prominent Chinese manufacturer of humanoid robots, made a spectacular debut on the Shanghai Stock Exchange today, with its stock price soaring by 486.12% during morning trading. The company's initial public offering successfully raised the equivalent of about $904 million.

The company's shares opened with a remarkable 629% increase, reaching 1,100 yuan ($163.12) per share, significantly higher than the IPO price of 150.8 yuan ($22.36). By midday, the stock was trading at 883.87 yuan ($131.07). This strong performance makes Unitree the first company in the humanoid robot sector to be listed on mainland China's STAR market, often referred to as the 'Chinese Nasdaq' due to its focus on technology stocks.

Unitree's market valuation now stands at approximately $9.04 billion. According to Value Add VC, this valuation positions Unitree as the third-largest player globally in the humanoid robotics field, trailing only U.S. companies 1X Technologies, which is backed by OpenAI, and Figure AI, supported by tech giants like Nvidia and Microsoft.

The company has attracted significant investment from major Chinese digital sector players, including Tencent and DeepSeek, with Alibaba also being a shareholder. Unitree plans to allocate nearly half of the IPO funds to research and development of intelligent robot models, with additional investments in robotic bodies, new products, and smart manufacturing facilities. Unitree has gained international recognition for its advanced humanoid robots, showcased through viral performances at events like the Lunar New Year gala, demonstrating their capabilities in dancing, acrobatics, and martial arts.