China's EngineAI and Dreame Technology eye Hong Kong IPOs, Bloomberg reports

Two Chinese tech firms are considering going public in Hong Kong amid the booming local initial public offering market, Bloomberg reported on Friday.

China's robotic startup EngineAI, which is valued at over 10 billion yuan (HK$11.5 billion), has confidentially filed for an IPO in Hong Kong, according to Bloomberg.

The robotic firm is in discussions with CICC and Citi Securities about a potential IPO, while details such as scale and timeline are not finalized, the report said.

The Shenzhen-based company, founded in 2023, gained popularity last year after posting a video showing a frontflip performance of its robots.

Meanwhile, Dreame Technology, a robotic vacuum cleaner and other smart home appliances maker, is considering a Hong Kong IPO as soon as next year.

Dreame is working with advisors on the potential share sales that could raise hundreds of millions of US dollars, the report said, adding that related discussions are ongoing, and details such as the offering size and timing are subject to change.

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