China’s robotics IPO wave gains steam as 2 more firms eye Hong Kong listings
Another two Chinese robotics start-ups have confirmed plans to launch initial public offerings in Hong Kong as early as next year, boosting the city’s role as a prime fundraising hub for China’s fast-growing technology sector. The two Hangzhou-based firms – both founded by former executives at Alibaba Group Holding – are part of a wave of Chinese embodied artificial intelligence start-ups looking…
Two Chinese robotics start-ups are set to launch initial public offerings (IPOs) in Hong Kong, further solidifying the city's position as a prime fundraising hub for China's rapidly expanding technology sector. Infiforce Technology Group and UDeer.ai, both founded by former executives at Alibaba Group Holding, are among the companies eyeing a Hong Kong listing in the coming years.
Infiforce, which has developed a cognitive system called "AtomBrain," is currently preparing for a potential 2027 listing, while UDeer.ai is in the process of filing its IPO application in the first half of next year.
These two companies are part of a broader wave of Chinese robotics firms looking to go public as the industry scrambles to scale up production. However, Puhua Capital, a venture capital firm that specializes in hard-tech and embodied intelligence start-ups, has expressed concerns about the current valuations, stating that they are "overheated" due to a concentration of capital in the top 10 to 20 percent of companies.
Despite these warnings, experts believe that 2023 marked the "first year of mass production" for the embodied AI industry, and that companies and the market still need time to adjust to the current high valuations.
Written by urgent.news from South China Morning Post's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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