Unitree Robotics has gained global attention for its humanoid robots, known for walking, dancing, and performing backflips|@UnitreeRobotics|X
Shares of China’s Unitree Robotics surged more than 460% Wednesday after debuting on the Shanghai stock market.
The stock had soared nearly 630% earlier before giving back some gains.
The Hangzhou-based company raised about $905 million through its IPO. Chinese AI company DeepSeek invested about 140.8 million yuan in the IPO, while existing investors include technology giant Tencent and several state-run utilities.
The debut on Shanghai’s Star Market marks the first IPO of a humanoid robot maker in mainland China, and the demand was staggering.
Retail orders exceeded the available shares by 5,000 times. The frenzy comes as Morgan Stanley predicts China’s humanoid robot market will surge from $2 billion this year to $15 billion by 2030, reflecting rising expectations for commercial adoption. The investment bank also projects the country will ship 50,000 units this year, nearly doubling its earlier estimate of 28,000.
Unitree’s bots, known for walking, dancing and performing backflips, have gained global viral attention over the past year.
Founded in 2016, the company shipped more than 5,500 humanoid robots and reported a net profit of $39 million last year.
Unitree’s debut highlights China’s push to lead the global robotics industry as it competes with the US in artificial intelligence and automation.