China's backflipping robot maker Unitree pops 542% in ...

Unitree is the latest high-profile Chinese tech name to hit Shanghai's STAR Market, following memory chipmaker CXMT's listing last month, when its shares soared 466% on their first day of trading.

Morgan Stanley in June raised its forecast for China's humanoid robot shipments to 50,000 units this year, nearly double its previous projection of 28,000. The bank estimated China's humanoid robot market will grow from $2 billion this year to $15 billion by 2030. The bank further expects pilot projects in China to begin moving into broader deployments in the second half of this year, with full-size humanoids forecast to account for about 30% of shipments, rising to 70% by 2028.

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