Unitree Robotics Soars 629% on Shanghai Debut, Topping CXMT's Record

Unitree Robotics, a Chinese humanoid robot maker, surged 629% on its Shanghai Star Market debut, surpassing CXMT's 500% first-day gain from July. The IPO saw massive retail demand, with small-investor subscriptions 5,500 times oversubscribed, indicating extreme speculative fervor in China's tech IPO market. This signals heightened retail risk appetite and potential market froth, though the sustainability of such valuations remains uncertain.