Another Sputnik shock!
"Shares of Unitree Robotics, China's high-profile humanoid robot maker known for fluid athletic maneuvers, shot up more than 629% to 1,100 yuan apiece upon their debut in Shanghai on Wednesday, after the company raised 6.1 billion yuan ($905 million).
The listing, at a valuation of $9 billion, marks China's first onshore initial public offering by a humanoid robot company. Dozens of rivals, such as Agibot, are reportedly preparing to list in Hong Kong.
The Hangzhou-based company is backed by some of China's most influential technology companies, including Tencent, Alibaba, Meituan and DeepSeek.
State media reported that China is now home to more than 140 humanoid robot companies. Players from a range of industries, particularly electric vehicle makers, are rushing into the sector. Some, such as Xpeng, have announced plans to begin mass production this year, while Chinese EV giant BYD is expected to unveil its first humanoid robot this month.
China's humanoid robots have been drawing growing attention with increasingly sophisticated public demonstrations. ..."
"... Since it was founded in 2016, Unitree has made headlines for its low-cost quadruped and humanoid robots. The Hangzhou, China-based company, formally Yushu Technology Co., is best known for its humanoids, which are used in research labs around the world.
You’ve likely seen videos of Unitree’s G1 robot dancing, doing kung fu, or backflipping, among other things. In addition, the company offers robotic hands, arms, and lidar. ..."
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