Unitree, a Chinese manufacturer of humanoid robots, is planning an initial public offering (IPO) on the Shanghai Stock Exchange. The company's robots have gained global attention through viral videos and a performance at a state broadcaster's gala.
The IPO has drawn strong interest from retail investors, with orders oversubscribed around 8,300 times, exceeding 8,000 times, according to reports. Unitree aims to raise about 6 billion yuan (roughly 790 million euros) through the offering, though the first trading day has not yet been set.
How much the IPO was oversubscribed by retail investors, exceeding 8,000 times.
Unitree is one of China's best-known young technology companies, based in Hangzhou, an eastern Chinese city. It builds both humanoid robots and four-legged robot dogs. Its humanoid robots have danced at the Spring Festival Gala of state broadcaster CCTV, an event watched by hundreds of millions of people every year, and videos of robots performing somersaults, boxing, and walking exercises regularly attract attention on social networks.
Unitree has also drawn high-profile visitors. German Chancellor Friedrich Merz visited Unitree during his last trip to China, underscoring the global interest in its technology.
Humanoid robots: a future field still in early stages
Humanoid robots are considered a major future field and are intended for use in factories, warehouses, shops, and households. However, the market is still in its early stages, and while numerous manufacturers are active in China, broad productive deployment has not yet occurred. US electric car maker Tesla, led by Elon Musk, is also working on a humanoid robot named Optimus.
The rush to buy Unitree shares fits the broader IPO hype around Chinese companies in artificial intelligence and modern computing. At the end of July, Chinese memory chip maker CXMT's stock rose 466 percent on its first trading day, and other Chinese AI chip developers recorded share price gains of several hundred percent at their debuts.
Volatility and regulatory intervention
Chinese technology stocks have recently fluctuated sharply. After high gains, many of these stocks came under considerable pressure, prompting China's securities regulator to intervene, with state investors buying shares to stabilize the market.
Despite the volatility, China's humanoid robot makers are racing to list on stock exchanges.
