China Curbs Humanoid Ipos After Unitree's Volatile Debut, The Information Reports
The China Securities Regulatory Commission has given an informal“window guidance” to some investment banks and firms that it is lifting the bar for approving humanoid startups that plan to go public, the report said, citing people with knowledge of the matter.
Recommended For YouThese companies must prove they can generate recurring revenue and are on track to narrow their losses or achieve real innovation before approvals can be considered, The Information said.
Chinese financial regulators did not immediately respond to a Reuters request for comment. Reuters could not verify the report.
According to the Information report, the change in strategy was prompted by factors including a funding frenzy in the private market this year, a long list of companies that have filed for IPOs, and tanking share prices of companies such as Unitree that went public recently.
A roughly 45% slump in the shares of Unitree, China's best-known humanoid robot maker, since a more than fivefold jump in its Shanghai debut has triggered concerns about a bubble, retail investor losses and flaws in the IPO system.
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