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China slows humanoid robot IPO rush as hype outruns reality

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China slows humanoid robot IPO rush as hype outruns reality

Business News Tech AI China slows humanoid robot IPO rush as hype outruns reality

Chinese regulators are putting the brakes on a rush of humanoid-robot companies seeking listings, people familiar with the matter said, as they scrutinise whether soaring valuations and revenue tied to state-backed projects reflect commercial demand.

Chinese regulators are putting the brakes on a rush of humanoid-robot companies seeking listings, people familiar with the matter said, as they scrutinise whether soaring valuations and revenue tied to state-backed projects reflect commercial demand. The slowdown was mainly triggered by a volatile start for shares in Unitree Robotics, a maker of humanoid and quadruped robots, they said. The stock soared more than fivefold in its Shanghai debut a month ago and has slumped 55% from its peak. Regulators have used informal "window guidance" to hold back some humanoid-robot listings, said the people, who requested anonymity while discussing the matter due to the sensitivity of the topic.

One of them said humanoid IPOs had effectively been frozen for now, while another said there was no formal ban, describing the move as a sector-specific slowdown. The regulatory move highlights Beijing's effort to cool investor euphoria over one of China's hottest investment themes without undermining a technology the government has made a national priority. The China Securities Regulatory Commission did not respond to a request for comment. The Information first reported, citing people with knowledge of the matter, that the CSRC recently gave informal guidance to some investment banks and investment firms that it was raising the bar for granting approval of humanoid IPOs.


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