Inside the 629% Surge: What Unitree's Shanghai Debut Says About Scarcity, Valuation, and China's Robot Trade
Key takeawaysUnitree Robotics opened on the Shanghai STAR Market, 629.44% above its issue price, briefly valuing the first humanoid robotics company to list in mainland China at about $66 billion, before closing at roughly $50 billion. The retail tranche was oversubscribed more than 8,000 times, a STAR Market record, with 9.8 million accounts competing for approximately 9.7 million shares against a freely circulating float near 7.4% of share capital. Founder Wang Xingxing's 121.4 million shares