Caixin
Caixin Global – Latest China News & Headlines

Home >

ABOUT US

CX Live is Caixin Global's real-time news portal, featuring 24-hour breaking news, short-form analysis, and roundups from business and social media in China.

TRENDING
‘Avengers: Endgame’ Has Made 400 Million Yuan in China – And It’s Not Even Out Yet
Huawei Takes Second Crack at Brazilian Smartphone Market
China Confirms Date of Second Belt and Road Forum
LATEST
Politburo Warns of Lingering Pressure on Economy, Vows Support
Huawei Takes Second Crack at Brazilian Smartphone Market
‘Avengers: Endgame’ Has Made 400 Million Yuan in China – And It’s Not Even Out Yet
Sinovation-Backed Education Firm Secures $140 Million in New Funding
China ‘Regrets’ WTO Ruling on Agriculture Trade Restrictions
China Stock Photo Giant Fined for Trying to Copyright Black Hole
China Confirms Date of Second Belt and Road Forum
China Needs to Fight Nonfinancial Money Laundering, Global Body Finds
Buick Rolls Out First Electric Car for China
People’s Daily Website Reports Booming Profit
China’s Starbucks Rival Raises $150 Million in BlackRock-Led Round
National Rules on Online Lending Still Far From Sight
Cabinet Reaffirms No ‘Flood-Like’ Stimulus, Continued Support for Small Firms
Central Bank Injects Less Liquidity Than It Rolls Back
Transit Control System Provider Seeks $1.5 Billion IPO on New Tech Board
China Pushes to Restore Morale at Corruption-Tainted Science Institute
Anbang Cuts Registered Capital, Allowing Creditors to Demand Repayment
Vatican Accepts Invitation to Exhibit at China Horticulture Expo
Taiwan's Richest Man Announces Bid for Top Office, Citing Advice From Goddess
BAIC’s New-Energy Unit Expects Drop in Lower-End Sales as Subsidies Dry Up
Xiaomi-Backed Robot Vacuum Maker Applies for New Tech Board Listing

By Hou Qijiang and Han Wei / Apr 11, 2019 03:14 AM / Business & Tech

Photo: VCG

Photo: VCG

Beijing Roborock Technology Co. Ltd., a robot vacuum maker affiliated with Xiaomi Corp., has applied for an initial public offering on China’s new high-tech board, according to the Shanghai Stock Exchange, the host of the new board.

Roborock plans to sell as much as 25% of its equity to raise 1.3 billion yuan ($193 million) to support new product development, according to the company’s prospectus. Citic Securities was hired as sponsor of the offering.

Xiaomi executives including founder Lei Jun together hold more than 24% of Stone Technology. Business with Xiaomi accounted for more than 50% of Roborock’s 2018 sales, though down from 90% the previous year.

Roborock is the third Xiaomi-affiliated smart-device maker that is expected to go public. Wearables maker Huami Corp. and appliance maker Viomi Technology Co. floated in the U.S. last year.

Share this article
Open WeChat and scan the QR code
Copyright © 2017 Caixin Global Limited. All Rights Reserved.