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Unitree Robotics has lost roughly $30 billion in market value after its spectacular Shanghai debut, prompting concerns that Chinese regulators could tighten scrutiny of humanoid robot companies seeking IPOs.
Chinese memory chipmaker CXMT surged 466% on its market debut after raising $8.6 billion in Asia’s largest IPO of the year, becoming China’s most valuable listed company.
Shanghai now has an ATM that melts gold and transfers funds to bank accounts within 30 minutes.