Unitree Robotics shares surge over 460% on Shanghai stock market debut
Unitree Robotics, the world's largest humanoid robot manufacturer, saw its shares close over 460% higher on Wednesday following its debut on Shanghai's STAR Market. The Hangzhou-based company, officially known as Yushu Technology Co, raised approximately 6.1 billion yuan ($905 million) during its initial public offering. The company's robots have gained international recognition for their ability to perform martial arts, dance, and navigate hazards. Unitree Robotics recently unveiled a new humanoid robot named "Superman," capable of jumping two meters from a standing position. The company is backed by major Chinese tech giants such as Tencent and Alibaba, with DeepSeek also investing in the IPO. Market analysts project significant growth in the robotics sector. Morgan Stanley raised its forecast for China's humanoid robot shipments to 50,000 units this year, estimating the market will grow from $2 billion this year to $15 billion by 2030. While the Pentagon has listed Unitree Robotics as a contributor to the Chinese defense industrial base, the company maintains that its robots are primarily for civilian use.