Unitree Robotics shares opened at 1,100 yuan on August 19, a 629% jump from the IPO price of 150.8 yuan, closing the day with gains exceeding 460% around 845 yuan. The Hangzhou-based company, specialized in humanoid robots and known for viral videos of robots performing backflips and martial arts, became the first humanoid robot maker to list on mainland Chinese exchanges. Unitree Robotics raised 6.1 billion yuan (approximately $905 million) through its STAR Market IPO, valuing the company at approximately 61 billion yuan. The retail investor tranche was oversubscribed by more than 8,000 times, fueling the first-day price explosion.
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