China tightens IPO criteria for humanoid robot startups

China’s securities regulator is raising the bar for humanoid robot startups that want to go public, according to sources familiar with the matter. The new standards are part of a broader effort to cool expectations in a sector that has attracted heavy investment and fastrising valuations. The regulator is said to be asking applicants to show sustainable revenue and commercial orders, narrowing losses with a threeyear forecast, and ownership of core technology such as robotic brains or hands. Some sources said companies may need to meet two of the three requirements, but it is still unclear how many firms can qualify. The shift comes as interest in humanoid robotics has surged in China, with more than 100 companies in the sector and at least two dozen filing to list in Hong Kong. The article also noted that Unitree’s Shanghai debut drew attention to the industry’s commercialization challenges, while recent stock declines suggest investors are taking a closer look at business fundamentals.