Unitree Robotics, described as the world's largest humanoid robot maker, made its stock market debut on Wednesday in Shanghai, with shares rising by over 600%. The company's initial public offering (IPO) on the tech-focused Star Market saw shares open at 1,100 yuan (£120.60; $163.12), substantially higher than the offer price of 150.8 yuan.
The listing is seen as a significant event for China's robotics industry, aligning with Beijing's plans for the sector. Unitree, founded in 2016, develops a range of devices from sensors to human-like machines and is based in Hangzhou, a region that has benefited from government investments in robotics firms.
The IPO comes amid a global competition in robotics and artificial intelligence between the US and China. While some experts have raised questions about demand for robots outside industrial and commercial applications, the listing is viewed by some as a gauge of investor interest in the growing humanoid robotics sector.