Chinese robotics giant Unitree soars in stock market debut

The world's biggest humanoid robot maker Unitree Robotics made its stock market debut in Shanghai on Wednesday, with its shares ending their first day of trading up by more than 460%. The Chinese firm’s shares, which were offered to investors for 150.80 yuan (£16.50; $22.36) each, closed at 845 yuan. The highly anticipated listing on the technology-focused Star Market - which is widely known as China's Nasdaq - marks a milestone for Beijing's ambitious plans for the country's robotics industry. It comes as the US and China are battling to dominate the global market for robots and artificial intelligence (AI) models that power them. While Unitree is not the first Chinese humanoid robot maker to list on the stock market, its debut marks the first in mainland China. Robots like automated industrial equipment and smart vacuum cleaners are already widely used in factories, warehouses and homes. Now, the humanoid robotics industry is attracting huge amounts of investment as major companies - including Tesla, BYD and Amazon - are developing two-legged machines capable of performing tasks usually carried out by people. Unitree, officially known as Yushu Technology Co Ltd, was founded in 20