Unitree jumps 629% after $904 million Shanghai IPO
What's new: The debut makes Unitree the first publicly traded humanoid robot maker in mainland China.
Unitree Robotics surged 629% in its Shanghai trading debut after raising 6.1 billion yuan, or about $904 million, in an initial public offering. Shares of the Hangzhou-based company, formally known as Yushu Technology, climbed to 1,100 yuan from the IPO price of 150.8 yuan after it sold 40.4 million shares. The listing is a milestone for China’s robotics sector as investors pour money into so-called physical AI and embodied AI, shifting focus beyond foundation models toward real-world uses. The company has drawn international attention for robots that can run, dance and perform martial arts, and its debut comes as Beijing increases support for strategic technologies including semiconductors and humanoid robots.