New stock news | Siasun Robot & Automation's Hong Kong IPO prospectus failed

Siasun Robot & Automation Co., Ltd. (referred to as Siasun Robot & Automation) submitted a Hong Kong stock prospectus on June 8, which expired on December 8, six months later. GUOTAI JUNAN I and Huatai International were its joint sponsors when submitting the prospectus. According to the previous prospectus, Siasun Robot & Automation is an AI-powered smart home system provider, dedicated to building an ecosystem with smart home products at its core. The company's product brand name is SwitchBot, and users can interact with the products anytime through the SwitchBot App to meet various household needs. According to a Frost & Sullivan report, the company is the world's largest AI-powered smart home system provider based on retail sales in 2024, with a market share of 11.9%. It is also the only provider in the market that covers all categories of AI-powered smart home systems for household living scenarios.