IPO News | Galaxy GM denies rumours of listing in Hong Kong: the stock reform is for subsequent financing needs

The Zhitong Finance App learned that on December 9, there were media reports that the domestic humanoid robot unicorn Galaxy GM is preparing to go public in Hong Kong. People familiar with the matter revealed that Galaxy GM has been preparing for listing for several months and is expected to be submitted in the first quarter of next year. “It may be submitted in January as soon as possible.” Galaxy GM denied the listing rumor and said that this rumor has attracted much attention or is related to Galaxy GM's completion of stock reform a few days ago. The relevant person in charge said: The above information is untrue. The company's stock reform is to complete subsequent normal financing requirements and introduce new primary market investors.

According to reports, Galaxy GM recently completed stock reform. The company name was changed from “Beijing Galaxy General Robotics Co., Ltd.” to “Beijing Galaxy General Robotics Co., Ltd.”, and the type of enterprise was changed from a limited liability company (foreign-invested, non-wholly owned) to a limited company limited by shares (foreign-invested, unlisted). Stock reform is generally viewed as an important preliminary step for a company to go public.

According to public information, Galaxy GM is a market-leading general-purpose robot company with multi-modal large models. Established in May 2023, Galaxy GM is committed to providing general robot products to users around the world, and has pioneered widespread application in commercial, industrial, medical and other scenarios.

Galaxy GM is one of the leading projects in the domestic smart circuit. Currently, the valuation is in the first tier in the country, second only to Yushu Technology, which is preparing to be listed on the Science and Technology Innovation Board, and Zhiyuan Robot, which has already merged and acquired listed companies. Its shareholder lineup is extremely strong, including strategic and industrial investors such as Ningde Times, Meituan, BAIC Industrial Investment, and Guoxiang Capital, as well as leading financial institutions such as Qiming Venture Capital, Lanchi Venture Capital, Source Code Capital, IDG Capital, and Jiyuan Capital, as well as state-owned investment platforms in Beijing, Shanghai, Shenzhen, and Hong Kong.