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China’s backflipping robot maker Unitree pops 542% in Shanghai debut
Demand for the shares exceeded supply by more than 8,000 times, and the company will use proceeds to expand factories and embodied AI work.
- Hangzhou-Based Unitree Robotics began trading in Shanghai on Wednesday, becoming the first humanoid robot manufacturer to list on a mainland Chinese exchange.
- Investors bid more than 8,000 times the available shares, setting a STAR Market record, as the company raised 6.1 billion yuan, or about $905 million.
- Unitree produced roughly 18,000 robots by July, leading global manufacturers, and recently unveiled its "Superman" robot, which it claims can jump two meters and reach high speeds.
- China's Ministry of Industry and Information Technology promotes humanoid robotics to counter demographic shifts, though Unitree faces growing United States restrictions, including a Pentagon business ban imposed in June.
- Valued near 61 billion yuan, or nine billion dollars, Unitree establishes a public benchmark for over 150 Chinese humanoid startups, contrasting sharply with higher U.S. private valuations near $39 billion.
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24 Articles
24 Articles
Robot manufacturer Unitree, which makes humanoid robots, rose sharply on the Shanghai Stock Exchange on Wednesday.
·Borås, Sweden
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(Beijing=Yonhap News) Correspondent Jung Sung-jo = China's leading humanoid robot manufacturer Unitree (Yushu Technology) saw its stock price skyrocket by over 400% on its first day of listing on the Shanghai Stock Exchange...
·Seoul, Korea (the Republic of)
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Unitree raises hopes of mega market debut
Expectations are running high for Chinese humanoid robot maker Unitree Robotics' debut on Shanghai's STAR Market on Wednesday, after its record-breaking initial public offering was oversubscribed more than 8,000 times by retail investors, with some institutions predicting a potentially explosive first-day jump.
·Beijing, China
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Coverage Details
Total News Sources24
Leaning Left4Leaning Right9Center5Last UpdatedBias Distribution50% Right
Bias Distribution
- 50% of the sources lean Right
50% Right
L 22%
C 28%
R 50%
Factuality
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