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China’s Unitree Shares Surge as Much as 629% on Shanghai Debut
Chinese humanoid robot maker Unitree Robotics listed on the Shanghai stock market, with its shares rising as much as 629%.
What happened
According to Bloomberg, Unitree Robotics listed on the Shanghai stock market on the 19th, and its shares rose as much as 629% to 1,100 yuan. They closed up 460% at 845 yuan, giving the company a market capitalization of 342 billion yuan. The IPO price was 150.8 yuan, and the company raised about 6.1 billion yuan.
Why it matters
Unitree raised about 6.1 billion yuan through its Shanghai listing. The company said it will use the funds to accelerate AI development and commercialization. For companies advancing humanoid robot development, the listing offers a view into which stages of research and development the proceeds will support.
Sources
Translated from the Japanese original: /news/unitree-robotics-shanhai-joujou-shonichi-ni-kabuka-ichiji-62-7dfce5. The Japanese version is authoritative if they differ.