Unitree Robotics made a staggering entrance to public markets on Wednesday, with shares opening at 1,100 yuan in their Shanghai trading debut, 629 per cent above its initial public offering price of 150.80 yuan. The surge briefly valued China's best-known humanoid robot maker at about 445 billion yuan, or roughly US$66 billion.
The spectacular opening pop was short-lived. Following the surge, the stock pulled back below 900 yuan per share in early morning trading, a sign of profit-taking after the frenzied open.
The timing was notable: Unitree's debut coincided with the opening of the World Robot Conference, highlighting how public markets and policy forums are converging around China's ambitions in robotics and automation.