New Stocks News | It is rumored that Yinhe General has hired an investment bank to assist in its Hong Kong IPO, with the earliest filing expected in the first quarter of next year.

Market news suggests that domestic humanoid robot manufacturer Galaxy General is preparing to go public in Hong Kong. It is reported that CITIC SEC, Huatai, and UBS have been selected as the IPO arrangement banks, and the company may submit its application to the Hong Kong Stock Exchange as early as the first quarter of next year with a valuation of 3 to 4 billion US dollars. However, discussions are still ongoing and details may change. Earlier reports indicated that Galaxy General has been preparing for the IPO for several months, with the possibility of submitting the application as early as January and completing the shareholding reform in November, which is typically seen as an important step before a company goes public. Galaxy General responded at the time saying that the reports were not accurate, and the shareholding reform was to meet the company's financing needs and bring in new primary market investors. It is understood that Galaxy General specializes in multi-modal humanoid robot development and research at Siasun Robot & Automation, with a full stack self-developed research and development capability covering Siasun Robot & Automation, operating systems, simulation training, and humanoid robot algorithm. Shareholders include Contemporary Amperex Technology (03750), Meituan (03690), BAIC Investment, Hua Capital, as well as Qiming Venture Partners, BlueRun Ventures, Sequoia Capital, Source Code Capital, IDG Capital, and Redpoint Ventures, among others.