Unitree soars in Shanghai debut

CNBC's Eunice Yoon reports on Unitree Robotics' Shanghai trading debut, where shares closed up over 460% after briefly surging as much as 630% intraday. The profitable humanoid robot maker has strong retail demand, high-profile backers, and Beijing's strategic-sector support, but its stock faded from highs on valuation and profit concerns. Yoon highlights both the excitement and risk in China's humanoid robot and tech IPO space. - Unitree shares closed over 460% higher in their Shanghai debut. - Intraday gains reached 630% before the stock faded. - Unitree is profitable and sold 5,500 humanoid robots last year versus Tesla Optimus's zero. - The retail IPO portion was 5,500 times oversubscribed, though the allocation was small. - The company has big-tech and government-backed investors and operates in a strategic Beijing-backed sector. - Investors grew cautious over a trailing P/E of 1200 and a 19% first-half net profit decline from heavy R&D. - Unitree unveiled a jumping robot called Superman and plans to invest in embodied AI models.