Unitree Robotics Shares Soar 460% in Shanghai Debut

Chinese humanoid-robot maker Unitree Robotics made its stock-market debut in Shanghai, with its shares closing 460% above their initial public offering price, Osmond Chia reported for BBC News.

Robotics humanoid robots are displayed as the Chinese company makes its stock-market debut on Shanghai's STAR Market. [Photo: Unitree Robotics Facebook]

The company's shares were offered at 150.80 yuan ($22.36) each and closed at 845 yuan.

The stock had risen as much as 629% during the session. The closing price valued Unitree at roughly $50 billion. 

The highly anticipated listing on the technology-focused STAR Market, often compared with the U.S. Nasdaq, marks a milestone for China's rapidly expanding robotics industry.

It comes as China and the United States compete for leadership in robotics and artificial intelligence.

Unitree is the first humanoid-robotics company to list on Shanghai's STAR Market. The company, founded in Hangzhou in 2016, makes both humanoid and quadruped robots and has become one of China's most prominent robotics companies. 

Humanoid robotics is attracting substantial investment as companies develop machines capable of performing tasks traditionally carried out by people.

However, widespread commercial deployment remains limited, with many current robots primarily used for research, demonstrations and specialized applications.