00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Unitree Robotics soared 460% in its Shanghai trading debut,
00:07giving the Chinese humanoid robot maker a market value of about $51 billion,
00:13according to the Wall Street Journal.
00:15The company became the first humanoid robot maker to list in mainland China
00:19as Beijing pushes embodied artificial intelligence as a future growth industry.
00:25Unitree generated about $250 million in revenue and $40 million in profit last year
00:32and shipped more than 5,500 humanoid robots.
00:35Its IPO was the most oversubscribed ever on Shanghai's star market,
00:40with nearly 9.8 million investors seeking shares.
00:44Unitree said more than 40% of its revenue comes from outside China
00:48and warned that tighter U.S. trade restrictions could hurt its business.
00:53Chinese humanoid robots have advanced but remain far from replacing skilled workers,
00:58with Unitree's models currently used mainly in education, entertainment, and robotics research.
01:03For all things money, visit Benzinga.com.
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