Shanghai Stock Exchange: Unitree robots make a spectacular debut, with shares soaring by up to 629 per cent
They then closed up 500 per cent, with a market capitalisation of 50 billion
(Il Sole 24 Ore Radiocor) - A debut to remember for Unitree on the Shanghai Stock Exchange. Shares in the Chinese start-up, which manufactures humanoid robots, initially surged by as much as 629 per cent compared with the IPO price on their first day of trading on the Chinese market, reaching 1,100 yuan per share. The company’s market capitalisation thus reached approximately 445 billion yuan, equivalent to 66 billion dollars. The share price then retreated slightly, settling at around 500 per cent above the IPO price, at 883.8 yuan, giving it a market value of 50 billion dollars.
The company, founded in 2016 by entrepreneur Wang Xingxing, raised around 6.1 billion yuan ($904 million) through its listing on the Shanghai Stock Exchange’s STAR Market and has become, with its humanoid robots, a symbol of the development of this industry in China, supported by government policies and robust supply chains. The Chinese government has, in fact, made robotics a strategic sector: according to the authorities, more than 140 Chinese companies launched over 330 models of humanoid robots last year. A few days ago, the company unveiled its new humanoid robot, dubbed ‘Superman’, which – according to the company – is capable of reaching a top speed of over 45 kilometres per hour and jumping more than two metres in height from a standing start.
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