Key facts
- Zhejiang Fine Motion Robot Joint Technology Co. Ltd. has halted its planned IPO on the STAR Market.
- The withdrawal was a joint decision between the company and its sponsor, GF Securities Co. Ltd.
- The Shanghai Stock Exchange terminated its listing review on Monday.
- The decision follows a September 4 decision by parent company Zhejiang Shuanghuan Driveline Co. Ltd. to abandon the spin-off.
Zhejiang Fine Motion Robot Joint Technology Co. Ltd. has aborted its planned initial public offering on Shanghai’s tech-heavy STAR Market. The robotics component maker and its sponsor, GF Securities Co. Ltd., jointly withdrew their application. The Shanghai Stock Exchange terminated its listing review on Monday. This follows a decision on September 4 by Fine Motion Robot’s parent company, gear manufacturer Zhejiang Shuanghuan Driveline Co. Ltd., to abandon the spin-off. The withdrawal underscores a regulatory freeze on domestic carve-outs and cooling investor appetite for the sector.