The Hangzhou-based company saw shares spike as much as 629 percent to 1,100 yuan on the tech-focused STAR Market at the open, compared with its offering price of 150.8 yuan. They later pared the gains to around 900 yuan.
The debut is a landmark moment for the country’s robotics sector which has become a key battleground in the China-US tech war.
Known as one of Hangzhou’s six little dragons, the company is the world’s largest humanoid-robot maker by sales, and its machines have become synonymous with China’s push to develop its booming robotics industry.
Its androids, include the ones that can do backflips and perform Kung Fu, and were featured in the country’s Spring Festival Gala.
On Monday, it unveiled a new humanoid robot called “Superman”, touting it as able to jump as high as two metres and to run as fast as 12.66 metres per second.
Beijing has identified robotics as one of its strategic industries it aims to lead in the world, with authorities saying that by last year, over 140 Chinese companies had already launched more than 330 humanoid robot models.
The push also comes as China takes initiatives to develop the so-called embodied AI, which refers to the integration of artificial intelligence into physical systems, enabling them to interact with the physical world.
Hangzhou’s six little dragons are a group of tech startups in fields that range from AI, robotics, gaming, and brain-computer interface technology.
The other firms include Game Science, DeepSeek, DEEP Robotics, BrainCo and Manycore Tech.
Unitree’s trading debut also coincided with the opening of the World Robot Conference in Beijing, where hundreds of mostly Chinese companies will be launching new products and demonstrating advancements. (AFP/Reuters)
