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IPO

IPO
Latest news and analysis on initial public offerings (IPOs), with a particular focus on companies raising funds on the Hong Kong Stock Exchange.
Unitree’s G1 humanoid robots sit next to a child interacting with the company's GO2 robot at a Unitree store in Beijing on August 1, 2026. Photo: Reuters
Hong Kong stock market

From chasing robots to chasing profits: the numbers moving markets

Unitree Robotics, US inflation rates, gold prices, Hong Kong homes and CK Hutchison’s interim results were in the spotlight this week.

Shein

Shein is eyeing a valuation rivalling H&M. Will the market buy it?

Hong Kong economy

In Focus | What comes next for Hong Kong as a global financial hub?

Artificial intelligence

Chinese AI start-up ModelBest kicks off pre-IPO tutoring process on mainland

Company says it has hired Citic Securities to guide pre-listing preparation but has not announced further details of plans.

ModelBest’s logo . Photo: mrjjxw.com
Hong Kong stock market

Hong Kong seeks tech exposure amid Beijing’s rising AI dominance

The city is looking to expand stock benchmarks in an effort to challenge Nasdaq’s tech dominance.

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Robotics

Unitree IPO deluge masks humanoid robots’ limitations

Retail investors subscribed for more than 5,500 times the shares on offer in Unitree Robotics’ offering amid hype about advances for humanoid robots and a run of Shanghai IPO windfalls.

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Hong Kong stock market

Shein set for Hong Kong IPO next week, eyes US$35b valuation: sources

Singapore-based company, which was founded in China, aims to raise as much as US$2.8 billion and began gauging investor demand last week.

Packs of clothing for Shein are displayed at a garment factory in Guangzhou, in southern China’s Guangdong province, on July 2. Photo: Reuters
Robotics

Unitree IPO frenzy leaves retail investors with 1-in-5,500 odds

Robotics company’s US$900 million Star Market listing offers slimmer odds than recent offerings by CXMT, Moore Threads and MetaX.

Robotics

AgiBot dethrones Unitree as world’s top humanoid maker ahead of IPOs

AgiBot’s shipments surged 562 per cent year on year, supported by a portfolio of full-size bipedals, compact units and wheeled robots.

Moore Threads

China’s ‘little Nvidia’ plans Hong Kong listing after 147% revenue jump

The Chinese AI chip developer plans a listing in Hong Kong to deepen its ‘international strategic footprint’.

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People visit the Moore Threads booth at the World Artificial Intelligence Conference in Shanghai. Photo: Getty Images
China’s private sector

Sugar for the pill: US$8b fund boosts Hong Kong’s biotech hub ambitions

Hong Kong Investment Corporation is stepping up its efforts to position itself amid Beijing’s challenge to US pharmaceutical dominance.

Clara Chan Ka-chai, CEO of Hong Kong Investment Corporation (HKIC) Photo: Enoch Yiu
Robotics

Backed by DeepSeek, Unitree seeks US$9b valuation in landmark robotics IPO

DeepSeek, which invested 141 million yuan, will co-develop AI models and embodied-intelligence technology with Unitree.

Artificial intelligence

China’s Moonshot AI seeks US$50b round as year-end Hong Kong IPO eyed: sources

Unicorn dismantles offshore structure to pave way for potential listing as investor appetite surges after release of Kimi K3 model.

Robotics

China’s X Square Robot submits confidential filing for Hong Kong IPO: sources

The start-up joins a growing list of domestic robot makers in China raising capital.

An X Square Robot cleaning a home in Beijing on May 21. Photo: AFP
Banking & finance

China’s foreign reserves hold steady as external earnings stay in private hands

Hong Kong absorbed nearly two-thirds of mainland China’s portfolio outflows last year and now holds about half of the total external stock, IIF says.

China’s banks, companies and investors operating outside the central bank’s reserve holdings became net creditors in their own right at the end of 2025, according to the Institution of International Finance. Photo: Shutterstock
Artificial intelligence

Opinion | Why global AI exuberance is about to hit ‘nasty’ reality

The era of unprecedented expansion is giving way to a volatile period where tech firms’ soaring ambitions feel the squeeze.

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China stock market

Elite company: the firms that were China’s most valuable before CXMT

Chipmaker’s ascent to highest market capitalisation ends two decades on top for energy conglomerates, lenders and consumer brands.

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Robotics

Unitree to launch IPO next week as US-China robotics rivalry intensifies

The Hangzhou-based firm will launch its listing in Shanghai next week, as a string of Chinese robotics start-ups pursue plans to go public.

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A Unitree G1 humanoid robot is displayed during London Tech Week in London. Photo: Reuters
Ant Group

Ant Group spin-offs pursue independent growth with strategic capital moves

The Chinese fintech giant’s three spin-off units are accelerating their capital-raising efforts after gaining operational autonomy in 2024.

Financial crime

Hong Kong regulators freeze US$15.9 million linked to suspected IPO fraud

Regulator action comes amid broader push to strengthen IPO safeguards after rapid market recovery.

Artificial intelligence

AI stock rout fells Innolight after mega Hong Kong IPO

Nvidia supplier Innolight declines on its Hong Kong trading debut as once AI-hungry investors turn increasingly nervous about sector’s huge spending plans.

The listing ceremony for Zhongji Innolight. Photo: Jonathan Wong
China stock market

China’s market clean-up: Beijing cracks down on insider trading

Regulators intensify pursuit of corporate insiders, imposing fines and bans to restore stock market confidence amid widespread violations.

A digital display stock index in Shanghai's financial district of Lujiazui on March 9, 2026. Regulators are cracking down on corporate insiders and trying to restore confidence in the country's stock markets. Photo: Getty Images
Hong Kong stock market

Zhongji Innolight sees rocky start as shares fall on Hong Kong IPO amid AI sell-off

The Chinese firm completed Hong Kong’s biggest IPO of the year, but its debut comes amid waning investor confidence in AI-related stocks.

Hong Kong stock market

Why is Zhongji unveiling US$1.2 billion in buy-backs before its Hong Kong debut?

The optical-module maker plans to buy back shares denominated in yuan to anchor pricing before its initial public offering in the city.

Hong Kong stock market

Hong Kong investors hunker down for Fed decision, jumbo IPO

Both a US Fed rate policy meeting and the largest initial public offering in Hong Kong in seven years will occur on Thursday.

The Hong Kong skyline on July 1. Photo: EPA
Banking & finance

How ‘old money’ investments in CXMT drive China’s tech self-sufficiency push

CCB holds the largest CXMT stake among the five banks at 1.714 per cent while BoC owns the smallest position at 0.38 per cent.

A view of the CXMT factory on the outskirts of Beijing on Monday. Photo: AFP
Hong Kong stock market

CATL-backed smart driving tech firm to kick off Hong Kong IPO this week: sources

NASN Intelligent Tech could launch its book-building as early as Thursday and debut in early August.

Semiconductors

CXMT surge shows why China stock buyers see IPOs as one-way bet

Chipmaker CXMT skyrocketed on its first day of trading on Shanghai’s Star Market, fuelled by a low IPO valuation and surging global demand for DRAM memory.

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