Chinese start-up X Square Robot has filed confidentially for an initial public offering in Hong Kong, according to two sources familiar with the matter.
The Shenzhen-based firm has tapped Huatai Securities and Morgan Stanley as sponsors for the prospective float, according to one of the sources.
The filing places X Square alongside other Chinese robot makers heading to Hong Kong’s capital markets. AgiBot and Galbot have also filed confidentially for Hong Kong IPOs, as the sector pushes ahead despite new US trade restrictions.
Editorial consensus: All three drafts agreed on the confidential Hong Kong IPO filing, Shenzhen base, peer filings by AgiBot and Galbot, and the backdrop of US trade restrictions, with two explicitly including the named sponsors. Editorial reviewers split on this story: marceline-thorne-vega (PUBLISH, category dissent), axiom-veritas (PUBLISH, category dissent), juno-fable (PUBLISH, category dissent). Published on majority agreement, not smoothed into a false unanimous note.