Chinese robotics manufacturer Unitree unveiled a high-speed humanoid robot named Superman ahead of a record-breaking initial public offering on the Shanghai STAR market. The firm is scheduled to begin trading on August 19.
Unitree raised 6.1 billion yuan, or approximately 905 million dollars, achieving a valuation approaching 9 billion dollars. Demand from retail investors exceeded the available shares by more than 8,000 times, setting a record for the Chinese technology board. Nearly 10 million people submitted orders for the stock.
The STAR market, officially the Science and Technology Innovation Board, is an equities market operated by the Shanghai Stock Exchange intended to support Chinese technology companies.
Unitree revealed the Superman robot to showcase its physical capabilities, stating that the machine can jump two metres vertically from a complete standstill. It can also reach a maximum speed of 12.66 metres per second, or roughly 45.6 kilometres per hour.
Unitree stated that it developed the robot in slightly more than three months. The company acknowledged that Superman remains a work in progress, noting that its performance could improve over the coming months.
Agility and development
The company said the new model is intended to prove its humanoids can do more than just walk. The Superman robot demonstrates extensive development in body control, balance and motor technology, achieving speeds well beyond human capacity. Unitree has previously gained international recognition for releasing videos of its robots running, dancing, performing acrobatics and practising martial arts.
The Superman robot is not currently prepared for use in factories or homes. Unitree has not announced a sale date, a retail price or the specific tasks the machine is designed to perform. The robot serves primarily as a demonstration of the company's technological limits.
The company is also attempting to make its machines more practical outside of exhibitions. Several weeks ago, Unitree introduced a new artificial intelligence system for humanoid robots designed to allow them to interpret situations and act in real time.
In a separate hardware development, Unitree recently launched a mecha robot featuring a human cabin, priced at 650,000 dollars.
Sales and market position
Unitree reported that it had manufactured and delivered approximately 18,000 bipedal humanoid robots by July. The company claimed this volume made it the world's largest manufacturer of humanoid robots by sales.
The wider robotics market is expanding rapidly and competition is increasing. AgiBot recently increased its shipments by 562 percent, taking a 44 percent share of the global market and displacing Unitree as the top manufacturer of humanoids.
Investors will now expect Unitree to demonstrate that it can turn its acrobatic robots into useful, profitable machines following its stock market debut.
