(Yicai Global) Aug. 21 -- Cloud Walk Technology, one of China's major artificial intelligence start-ups, has finished registration for pre-listing tutoring and is likely to become the first AI startup to list on the Shanghai Stock Exchange's Nasdaq-style Star Market.
The firm plans to go public at the end of this year, The Paper reported yesterday, citing a source close to the firm. The company registered for pre-listing tutoring with the China Securities Regulatory Commission's Guangdong branch on Aug. 18, per the CSRC's website.
Cloud Walk is an AI technology developer formed in 2015 and incubated by the Chongqing Institute of Green and Intelligent Technology under the Chinese Academy of Sciences. It specializes in developing face recognition. It focuses on AI in smart finance, governance, transport and business.
The firm has completed several funding rounds. The latest finished on May 13 and totaled over CNY1.8 billion (USD260.6 million), public data show.
The company, SenseTime, Megvii Technology and Yitu Technology are dubbed the 'Four Computer Vision Technology Tigers.' Megvii Technology submitted a listing application to the Hong Kong Exchanges and Clearing last year but has made no progress to date. Yitu Technology and SenseTime are often rumored to be going public, but have taken no practical acts toward this end.
Editor: Ben Armour