Chinese AI chip company Horizon Robotics is now considering an IPO in Hong Kong while dropping its previous plans to list in the U.S., sources said, according to Bloomberg. They said the company may be listed in Hong Kong by next year at the earliest.
Recently, the Chinese government tightened its scrutiny requirements for domestic companies seeking to be listed overseas, and demanded cybersecurity reviews for companies possessing data of more than 1 million users. That may be one of the possible reasons why Horizon Robotics is considering an IPO in Hong Kong instead.
In addition to Horizon Robotics, Chinese startups such as autonomous driving company Pony.ai and audio sharing platform company Ximalaya have also suspended their plans to go public in the US.
Horizon Robotics May Consider IPO in HK Next Year