China · The Guardian Technology
Shares in humanoid robot firm Unitree surge 600% on Chinese stock market debut
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Unitree, the world’s biggest humanoid robot maker, has made a spectacular entry on to China’s stock market, with its shares surging by more than 600%.
Key facts
- The market for human-like robots is expected to grow rapidly, with analysts projecting that sales could rise from around $2bn (£1.5bn) in 2025 to $300bn by 2035
- Shares in the business, officially known as Yushu Technology Co, rose to as high as 1,100 yuan (£120.39) on Wednesday, up from an IPO price of 150.8 yuan
- Unitree, which was founded in 2016, shipped more than 5,500 humanoid robots last year
- Wang Xingxing, who founded Unitree in 2016 and remains its chief executive, owns about a fifth of the business
Summary
The Chinese company’s robots have gained global fame via viral videos of them performing martial arts, running at Olympic speeds and serving as backup dancers for pop stars. Shares in the business, officially known as Yushu Technology Co, rose to as high as 1,100 yuan (£120.39) on Wednesday, up from an IPO price of 150.8 yuan. Investors are searching for winners in robotics development, which has emerged as one of the key battlegrounds in the AI race. Unitree, which was founded in 2016, shipped more than 5,500 humanoid robots last year.