Huawei EV partner Seres unveils Hong Kong IPO plan
Seres Group Co. Ltd., an electric vehicle partner of Huawei Technologies Co. Ltd., announced in a Hong Kong Stock Exchange filing on Oct. 27 that it plans to globally issue 100.2 million H-shares for its listing in the city. The final number is subject to an overallotment option. The offer price will not exceed HK$131.50 ($16.85) per share, and trading is expected to begin on Nov. 5.
AI chipmaker MetaX gets nod for STAR Market IPO
Chinese graphics processing unit (GPU) developer MetaX Integrated Circuit Co. Ltd. has received approval for an IPO on Shanghai’s STAR Market, moving a step closer to becoming the latest domestic AI chipmaker to go public. The green light, announced Friday by the Shanghai Stock Exchange, comes as MetaX faces deep financial losses and navigates an increasingly complex U.S. sanctions environment. The company plans to raise 3.9 billion yuan ($548 million) to fund research and development of high-performance GPUs.
Tencent says 90% of its engineers use AI for coding
Over 90% of engineers at Tencent Holdings Ltd. use its AI coding assistant, CodeBuddy, with artificial intelligence now helping generate 50% of all new code, according to the company’s big data report released on Oct. 24. The adoption has boosted the company’s overall R&D efficiency by more than 20%.
Robotics firm Noetix Robotics raises nearly 300 million yuan
Robotics startup Noetix Robotics announced on Oct. 26 that it completed a pre-B financing round of nearly 300 million yuan ($42 million), led by F&G Venture. On Oct. 23, the company unveiled its humanoid robot Bumi, which is priced at under 10,000 yuan and designed for home education scenarios.
