In today’s briefing:
- UBTech Robotics Hong Kong IPO: Capital Dried Up as Fundamentals Deteriorated
UBTech Robotics Hong Kong IPO: Capital Dried Up as Fundamentals Deteriorated
- UBTech Robotics, a leader in AI-powered robotics in China, filed for a Hong Kong IPO with Guotai Junan Capital leading the offering. The company plans to sell H-shares to investors.
- UBTech Robotics mulled IPO in 2019, but the company postponed domestic listing in China. In May 2018, UBTech Robotics closed an $820M Series C round at a $5B post-money valuation.
- Despite challenges, we remain bullish on China’s AI industry and consumer robotics market. However, UBTech’s fundamentals deteriorated, capital dried up, and IPO looks risky today.
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