Chinese Humanoid Robot Maker’s Shares Soar Over 600% in Blockbuster Shanghai Trading Debut

Aug 19: Shares of Chinese humanoid robot maker Unitree (688836.SS) opened more than 600% higher in its Shanghai trading debut on Wednesday, marking one of the most explosive stock market listings in China’s tech sector this year, according to Reuters. The stock opened at 1,100 yuan on the tech-focused STAR Market, a 629% jump over its IPO price of 150.8 yuan, as investors rushed to get exposure to one of the country’s most closely watched robotics companies. 

The trading debut follows Unitree’s roughly $900 million initial public offering last week, and it coincides with the opening of the World Robot Conference in Beijing on Wednesday, Reuters reported. The timing has amplified the significance of the listing, with some analysts framing it as a watershed moment for China’s robotics sector — a field increasingly seen as a key battleground in the broader Sino-U.S. tech rivalry. “It gives mainland investors direct exposure to one of the sector’s leading companies and could influence valuations for future robotics IPOs and private companies,” Morningstar analyst Kangyuxiao Li said in a note to clients, according to Reuters. 

By early trading, the rally had cooled slightly but remained extraordinary. Shares were up 542% at one point Wednesday morning before settling around 968.1 yuan apiece, having briefly touched a high of 1,100 yuan earlier in the session, according to a CNBC report. The Hangzhou-based company raised about 6.1 billion yuan ($905 million) through its IPO, according to its prospectus, CNBC reported, underscoring how strong investor demand was heading into the listing. 

Part of that demand appears tied to the company’s high-profile backers. The IPO drew investment from Chinese AI company DeepSeek, which put in about 140.8 million yuan, according to a company filing cited by CNBC. Unitree’s existing investor base also includes Chinese tech giant Tencent, lending the company additional credibility as it entered public markets. 

Unitree has built its reputation on robots capable of striking physical feats — its backflipping and dancing machines have drawn global attention in recent years. Its product lineup now spans bipedal humanoid robots that can walk and manipulate objects with dexterous hands, as well as four-legged robots designed for tasks such as hazard detection, according to CNBC. Just days before its listing, on Monday, the company unveiled a new humanoid robot called “Superman,” which it says can jump two meters from a standing position and reach running speeds of up to 12.66 meters per second — a showcase clearly timed to build momentum ahead of Wednesday’s debut. 

Unitree’s listing also fits into a broader pattern of blockbuster STAR Market debuts. It is the latest high-profile Chinese tech name to go public on the exchange, following memory chipmaker CXMT’s listing last month, when its shares soared 466% on their first day of trading, CNBC noted, pointing to a wave of investor enthusiasm for Chinese tech and hardware listings this year. 

The broader humanoid robotics market that Unitree operates in is also drawing bullish forecasts from Wall Street. Morgan Stanley in June raised its forecast for China’s humanoid robot shipments to 50,000 units this year, nearly double its previous projection of 28,000 units. The bank estimated China’s humanoid robot market will grow from roughly $2 billion this year to $15 billion by 2030, and it expects pilot projects in China to begin scaling into broader deployments in the second half of this year, with full-size humanoids forecast to account for about 30% of shipments this year, rising to 70% by 2028. 

Wednesday’s debut leaves Unitree as one of the most richly valued names to emerge from China’s robotics push, with investors betting heavily that the sector’s early momentum will translate into sustained commercial growth.

Source

•  https://english.sse.com.cn/markets/equities/data/