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Unitree soars in Shanghai debut
CNBC Television· 2026-08-19 18:17
Market Dynamics & Investor Sentiment - Unitree achieved a stunning Shanghai trading debut, with its stock price soaring by 630% at one point before ending the day up by 460% [2][3] - Retail portion of the Initial Public Offering (IPO) was 5,500 times oversubscribed, driven by strong market enthusiasm and strategic sector positioning [3][5] - Elon Musk praised Unitree's humanoid robots as impressive, while major tech names like DeepSeek and government-backed firms acted as key backers [1][2] - The sector is considered strategic by Beijing, with stock market regulators signaling active support for Initial Public Offerings (IPOs) [3] Financial & Operational Performance - Unitree successfully commercialized its products, selling 5,500 humanoid robots last year compared to zero for Tesla's Optimus [2] - Unitree maintained profitability while operating as a profitable company with significant financial backing [2] - Net profits for the first half of the year declined by 19% due to heavy spending on Research and Development (R&D) to maintain competitiveness [4] - Investors showed caution and became skittish over the trailing Price-to-Earnings (PE) ratio reaching 1,200 [4] Technology & Strategic Development - Unitree unveiled a new humanoid robot named Superman, capable of jumping two meters while standing [6][7] - Future strategic focus centers on investing in embodied Artificial Intelligence (AI) models to develop advanced robot brains for functional service applications [7]