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People familiar with the matter said that Songyan Power has confidentially submitted a listing application to the Hong Kong Stock Exchange, potentially raising hundreds of millions of dollars, with a listing as early as 2027; the company has not yet publicly confirmed this. The news was reported by 36Kr·AI on October 23, 2026. The report also mentioned that Songyan Power was founded in September 2023 and completed a nearly 1 billion yuan Series B funding round in March this year, led by Chendao Capital, which is affiliated with CATL; in October 2025 it released the humanoid robot "Bumi Xiaobumi" with a starting price of 9,998 yuan, and in March this year set its full-year delivery target at 10,000 units. There is currently no official response from Songyan Power or disclosure of further developments.
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Oct 25
East Money
After the IPO threshold for robotics companies was raised, primary-market investment expectations for embodied AI diverged
After regulators raised the IPO threshold for robotics companies, primary-market investors in embodied AI have shown divergent attitudes toward making deals: some investors still focus on projects with innovative points and differentiation, while an investment professional at a state-owned-background institution has largely stopped looking at embodied AI projects since June this year, citing project homogenization and insufficient substantive technological progress. Zhang Zhikuan, a director in the investment department at Cornerstone Capital, said he remains cautious about high-valuation projects and acknowledged that his expectations for the listing process are more patient than before. The article also mentioned that Songyan Power was reported to have confidentially submitted a Hong Kong IPO application, that Zhiyuan was reported to have launched a new funding round of about 1 billion to 1.5 billion yuan, and that Shenpu Intelligence plans to contribute about 810 million yuan to participate in the restructuring of ST Meizhi.
Oct 23
36Kr · AI
Songyan Power reportedly filed confidentially with the Hong Kong Stock Exchange; CATL-affiliated capital previously led its Series B
People familiar with the matter say Songyan Power has confidentially submitted a listing application to the Hong Kong Stock Exchange, potentially raising hundreds of millions of dollars, with listing as early as 2027; the company has not yet publicly confirmed. The company was founded in September 2023 and completed a nearly 1 billion yuan Series B in March this year, led by Chendao Capital, affiliated with CATL; in October 2025 it launched the humanoid robot "Bumi Xiaobumi" with a starting price of 9,998 yuan, and in March this year set a full-year delivery target of 10,000 units. This year domestic robot companies are concentratedly pushing forward listings: CloudMinds and Leju Intelligence had their IPO applications accepted in succession, Unitree Robotics listed on the STAR Market in August, and in September it was reported that regulators used informal window guidance to slow the listing process of some humanoid robot companies.
Leiphone
DeepSeek completes nearly 100 billion yuan financing, with CATL and Tencent participating
DeepSeek raised approximately 100 billion yuan (about 15 billion USD) in its latest funding round, with CATL and Tencent among the main investors; the funding target was raised twice from an initial 50 billion yuan to 80 billion yuan. CEO Liang Wenfeng disclosed that DeepSeek's annualized revenue run rate has exceeded 1 billion USD, more than doubling from under 500 million USD a few months ago, and customers did not churn after API price increases.