China slowed robot IPOs after Unitree's stock fell 55% from its peak.
Chinese regulators are holding back a rush of humanoid-robot companies seeking stock market listings, according to people familiar with the matter, Reuters reported.
The slowdown was mainly triggered by Unitree Robotics, whose shares soared more than fivefold in their Shanghai debut a month ago and have slumped 55% from their peak.
Regulators used informal "window guidance", the people said. One said humanoid IPOs were effectively frozen for now; another said there was no formal ban. The China Securities Regulatory Commission did not respond to Reuters.
Regulators are looking at revenue from local-government-backed projects, such as robot data-collection centres, where local governments could provide 80% to 90% of the initial investment, according to one person. That person estimated valuations at some robot companies could fall 60% to 70% without that revenue.
At least half a dozen humanoid firms are preparing to list, including Deep Robotics, X Square Robot and AGIBOT, Reuters says; none responded. A banker told Reuters: "The volume hasn't really caught up with the hype."
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