China's Unitree soars in market debut as investors bet on humanoid robots

China's Unitree soars in market debut as investors bet on humanoid robots China's Unitree Robotics has soared in its market debut, a sign of investors' confidence in Chinese innovation in the burgeoning field of human-like robots. Shares of Unitree surged more than 620 percent on Wednesday as it began trading in Shanghai, lifting the Hangzhou-based company's market capitalisation to as high as 445 billion yuan ($66bn). Unitree, whose main competitors include China's AgiBot and US-based Tesla and Boston Dynamics, had priced its initial public offering at 50.8 yuan per share for a company valuation of about 61 billion yuan ($9bn). The landmark IPO marked the first listing of a humanoid robotics company in mainland China. Unitree, founded in 2016 by engineer Wang Xingxing, is one of China's leading makers of humanoid robots, with its demonstrations of human-like figures performing dancing and martial arts routines capturing widespread attention.