Shares in Unitree Robotics, the Chinese humanoid robot maker, surged 542% on its Shanghai market debut on Wednesday after raising about 6.1 billion yuan ($905 million) in an initial public offering.
The Hangzhou-based company saw its shares reach 968.1 yuan each, having touched a high of 1,100 yuan during early trading on Shanghai’s STAR Market.
DeepSeek, the Chinese artificial intelligence company, backed the listing with an investment of about 140.8 million yuan alongside existing support from Tencent, the Chinese technology group.
Unitree manufactures bipedal humanoid robots capable of walking and manipulating objects with dexterous hands, alongside four-legged machines designed for hazard detection.
Ahead of the listing, the group revealed a new humanoid model named Superman that can jump two metres from a standing start and run at speeds of up to 12.66 metres per second.
The flotation follows last month’s debut of CXMT, the memory chipmaker, whose shares climbed 466% on their first day of trading.
Morgan Stanley (NYSE:MS), the investment bank, estimated in June that China’s humanoid robot market will expand from $2 billion this year to $15 billion by 2030.
The bank projected domestic shipments will reach 50,000 units this year, nearly double its prior 28,000 estimate, before moving into wider commercial deployments in the second half of the year.
Full-size humanoids are expected to account for 30% of total shipments this year, rising to 70% by 2028.
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