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Unitree shares surge on China IPO debut after retail demand
The company, founded in 2016, shipped more than 5,500 humanoid robots last year, and its IPO tranche for retail investors was oversubscribed by thousands.
Unitree, the Chinese humanoid robot maker behind widely circulated videos of its robots performing martial arts and dancing for pop stars, made a high-profile debut on China’s stock market, with its shares initially surging more than 600%.
Shares of Yushu Technology Co, the company’s official name, rose as high as 1,100 yuan after an IPO priced at 150.8 yuan, before gains were pared back to nearly 500% later on Wednesday, according to Guardian Business.
Investors have been drawn to the sector as robotics becomes a battleground in the AI race, with analysts projecting that humanoid robot sales could rise from around $2 billion in 2025 to $300 billion by 2035. Unitree shipped more than 5,500 humanoid robots last year.
Guardian Business reported that the company’s retail-focused IPO tranche saw exceptional demand, with shares set aside for non-professional stockpickers oversubscribed by thousands. The debut also coincided with the opening of the World Robot Conference in Beijing on Wednesday, and Reuters cited that Unitree’s chief executive Wang Xingxing, who founded the firm in 2016, owns about a fifth of the company, making his paper wealth worth more than $12 billion.