CXMT’s IPO sees millions of shares abandoned by online investors
Chinese memory-chip maker CXMT Corp. disclosed the results of its initial public offering on Shanghai’s STAR Market. The final strategic allotment was about 1.7 billion shares, with an online win rate of about 0.5%. Offline investors subscribed to about 2.2 billion shares and abandoned about 31,600 shares, an abandonment rate of less than 0.1%. The abandonment rate among online investors was slightly higher, as they subscribed to about 3.8 billion shares but walked away from about 6.6 million shares. The abandoned online shares were worth about 57 million yuan ($8.4 million), representing an abandonment rate of about 0.2%.
Horizon Robotics forecasts better-than-expected first-half revenue
Horizon Robotics expects its revenue from continuing operations to reach between 1.9 billion yuan and 2.1 billion yuan in the first half of 2026, representing a year-on-year increase of 24.8% to 34.5%, the company announced on Tuesday. The upper end of the growth guidance exceeded the market’s general expectation of 25% to 30%. The revenue growth was primarily driven by its product solutions and licensing and services businesses.
Alibaba unveils latest image generation model
Alibaba Group Holding Ltd. released its latest foundational image generation model, Qwen-Image-3.0, on Tuesday. The new model supports inputs of up to 4,500 tokens and can generate complex user interfaces and knowledge graphs that integrate mathematical formulas, geometric shapes and logical deductions in a single pass. It natively renders over 20 fonts across 12 languages, lowering the production cost of commercial materials such as multilingual product posters and storyboards.
Shouxing Technology raises hundreds of millions of yuan in A2 funding round
Robotics startup Shouxing Technology announced on Tuesday that it completed an A2 funding round, raising hundreds of millions of yuan. The round was jointly led by CITIC Goldstone and Geely Capital, with participation from investors including Guotai Junan Innovation Investment and Shunwei Capital. The funds will primarily be used to expand its bionic product lineup, build standardized mass-production lines and further refine its bionic embodied artificial intelligence algorithms.
