Kathmandu— China’s Unitree Robotics experienced a dramatic surge in its market debut on Wednesday, reflecting growing investor interest in the development and commercialization of humanoid robots. Shares in the Hangzhou-based company soared as high as 620 percent on the Shanghai STAR Market, briefly pushing its market capitalization to 445 billion yuan ($66bn). Founded in 2016 by engineer Wang Xingxing, Unitree is a leading Chinese manufacturer of human-like robots and has quickly become a key player in the global robotics landscape. The initial public offering (IPO) marks the first listing of a humanoid robotics company in mainland China.

Market Debut and Valuation

Unitree’s shares closed up 460 percent on Wednesday, after pricing its IPO at 50.8 yuan per share with a valuation of approximately 61 billion yuan ($9bn). The significant increase in share price demonstrates strong investor enthusiasm for the company and the broader humanoid robotics sector. Last year, Unitree reported shipping over 5,500 humanoid robots to customers globally, establishing itself as a leader in bringing this emerging technology to market.

Competition and Technological Advancement

Unitree competes with other major players in the field, including China’s AgiBot and US-based Tesla and Boston Dynamics. The company unveiled its latest model, dubbed Superman, on Monday, highlighting its capabilities – a two-meter jump height and a running speed of 12.66 meters per second. Rinat Mirzaitov, founder of Humanoid Analytics, noted that Unitree stands out due to its demonstrated revenue, profitability, and production volume.

Strategic Importance and Market Outlook

The rise of humanoid robotics is increasingly seen as a key area of technological competition between the United States and China. Last month, the US announced a ban on imports of Chinese-manufactured humanoid robots, citing national security concerns. JP Morgan estimates that China currently controls approximately three-quarters of the global market for both humanoid robots and autonomous vehicles. Industry analyses cited by JP Morgan project worldwide sales of humanoid robots to reach $300bn by 2035, a substantial increase from $2bn in 2025.

Unitree’s successful IPO signals continued growth and investment in the humanoid robotics industry, with the company poised to play a significant role in shaping its future. The firm faces the challenge of translating its hardware leadership into broader application and workflow dominance.

(With inputs from Al Jazeera)

Originally published on abcnews.com.np.