Chinese Robot Maker Unitree Soars in Shanghai Debut

Shares in Unitree, a Chinese manufacturer of humanoid robots, were trading at nearly six times their IPO price on their first day on Shanghai’s STAR Market.

The shares opened at a daily high of 1,100 yuan ($163) before falling back to 900 yuan ($133) in early trading, compared with an IPO price of 150.8 yuan ($22).

The world’s biggest humanoid-robot maker by sales, Unitree is profitable unlike most of its competitors and raised approximately $900m in the offering.

The successful listing underscored Unitree’s position as a key player in the US-China technology rivalry. Founder Wang Xingxing continues to enjoy the backing of tech firms including Tencent, Alibaba and DeepSeek, while his personal net worth rose to more than $12bn.

The company’s market debut coincides with the opening of the World Robot Conference in Beijing. The Chinese government views the development of robotics as a strategic priority and a way to offset the labor shortage caused by the country’s demographic crisis.

(Reuters, max)