Chinese humanoid robot maker Unitree opens over 600% higher in Shanghai debut
SHANGHAI/BEIJING: Shares in Chinese humanoid robot maker Unitree opened more than 600 per cent higher in its Shanghai trading debut on Wednesday (Aug 19).
The stock opened at 1,100 yuan (US$163) on the tech-focused STAR Market, 629 per cent higher than its IPO price of 150.8 yuan.
The trading debut follows Unitree's roughly US$900 million initial public offering last week, and coincides with the opening of the World Robot Conference in Beijing on Wednesday.
It is seen by some as a watershed moment for China's robotics sector - a key battleground in the Sino-US tech war.
"It gives mainland investors direct exposure to one of the sector's leading companies and could influence valuations for future robotics IPOs and private companies," Morningstar analyst Kangyuxiao Li said in a note to clients.
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