AgiBot, a Shanghai-based robotics company, has restructured from a limited liability company to a joint stock limited company.

The move, which included a name change to Zhiyuan Innovation (Shanghai) Technology, is a required step for firms aiming to go public in China.

AgiBot did not comment on reports that it plans an IPO in Hong Kong next year with a targeted valuation of HK$40 billion (US$5.1 billion) to HK$50 billion (US$6.4 billion).

The restructuring comes as several Chinese humanoid robot firms, including Unitree Robotics and Leju Robotics, prepare for listings.

AgiBot recently acquired a controlling stake in Shanghai-listed Swancor Advanced Materials for about 2 billion yuan (US$279 million) but denied it was for a backdoor listing.

Tencent is among AgiBot’s investors, and its leadership includes former Huawei executive Deng Taihua.

🔗 Source: South China Morning Post

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