Unitree, a major Chinese humanoid robot maker, saw its shares surge as much as 629% in its Shanghai trading debut on Wednesday.

The company raised about 6.1 billion yuan ($904 million) in its listing on the STAR market.

Its shares closed 460% higher at 845 yuan ($125.31).

Advanced robotics is a key sector in the technology rivalry between China and the U.S.

China leads in production capacity and manufacturing scale.

Last year, Unitree and AGIBOT each shipped over 5,000 humanoid robots globally, far ahead of U.S. rivals, according to Omdia.

For the first half of 2026, Omdia estimates Chinese makers will ship around 18,500 units.

Analysts say many humanoid robots are still used mainly for demonstrations and research.

Morningstar analyst Kangyuxiao Li said the real test is whether companies can achieve reliable performance in large-scale industrial deployments.

Unitree said it will use IPO proceeds for robot research and manufacturing development.

Unitree is the first publicly traded humanoid robotics maker in mainland China.

Its debut coincided with the World Robot Conference in Beijing.

The company reported about 1.7 billion yuan ($250 million) in 2025 revenue, with over 40% from overseas.

The U.S. accounted for roughly 13% of revenue last year, but a U.S. ban on new foreign-made robots could affect future sales.

Omdia's Lian Jye Su said Chinese makers will likely seek markets outside the U.S., such as Europe.