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Summary (IA Generated)
companys-depth-sensing-cameras/”>Megvii, one of China’s largest facial recognition startups, is gearing up for an initial public offering in Shanghai.
Megvii and its rivals SenseTime, Yitu, and CloudWalk are collectively recognized as the “Four AI Dragons” of China for their market dominance and fundings from highflying investors.
Last year, Megvii, Yitu and SenseTime were added to the U.
According to the notice posted by China’s securities authority, Megvii plans to issue Chinese depositary receipts (CDRs), which are similar to American depositary receipts and allow domestic investors to hold overseas shares.
Currently seeking guidance in the pre-application stage, Megvii’s planned listing still needs approval from Chinese regulators.