Shares of Unitree, the Chinese robotics company, fell more than 2% at the open of trading on August 31, with the stock briefly sliding to 555.8 yuan per share.

That level is roughly half the stock's debut high of 1,100 yuan, set on its first trading day on August 19, marking a sharp reversal since the listing. The decline has wiped out more than 200 billion yuan in market value from the peak.

Analysts pointed to profit-taking after a powerful IPO rally and questions over valuation as drivers of the pullback, though they noted the company's robotics business continues to draw strong long-term interest.

The stock's swings highlight the volatility common in high-profile tech listings, where early euphoria can give way to a correction as investors reassess fundamentals.