- Unitree to start trading in Shanghai on August 19
- Unveils new humanoid robot model called 'Superman'
- Market debut follows $905 million oversubscribed IPO last week
- Coincides with opening of World Robot Conference in Beijing
SHANGHAI/BEIJING, Aug 17 (Reuters) - China's Unitree unveiled a new high-speed robot it dubbed "Superman" on Monday, days before becoming the first general-purpose robotics company to list on mainland China's stock market.
Unitree, the world's biggest humanoid-robot maker by sales, will start trading in Shanghai on Wednesday after raising 6.1 billion yuan ($905 million) in an initial public offering last week.
The company, based in the eastern Chinese tech hub of Hangzhou, said it developed the new robot in just over three months. It achieved a standing jump of 2 metres and reached a top speed of 12.66 metres per second.
The Shanghai debut coincides with the opening of the World Robot Conference in Beijing, adding to investor attention on a company whose humanoid robots have drawn global notice for running, dancing and performing martial arts.
The IPO was more than 8,000 times oversubscribed by retail investors, a record for Shanghai's tech-focused STAR Market.
In a social-media post last week, Unitree said it had cumulatively produced and delivered about 18,000 bipedal humanoid robots across multiple models as of July.
DERIVATIVES MARKET POINTS TO STRONG DEBUT
Unitree said the robot remained a work in progress and could be improved further in coming months.
Founder Wang Xingxing gained national prominence after securing a front-row seat at a summit hosted by Chinese President Xi Jinping for leading technology entrepreneurs last year.
The startup is also backed by some of China's most influential technology companies including Tencent, Alibaba, and DeepSeek.
Ahead of Unitree's Shanghai listing, derivative trading in offshore markets has pointed to a strong debut.
Its shares may also benefit from a broader recovery in Chinese technology stocks following last month's selloff.
The STAR50 Index has rebounded about 15% from a three-month low hit in early August.
($1 = 6.7382 Chinese yuan renminbi)
Reporting by Samuel Shen in Shanghai, Shi Bu, Yukun Zhang and Eduardo Baptista in Beijing. Editing by Kirsten Donovan and Mark Potter
Source: Reuters