Suzhou AI Tiger Companies in Race for Sci-Tech Innovation Board, Can ‘Speeches’ Outrun First Listed Company?

Sibichi Technology Co., Ltd. (referred to as ‘Sibichi’) has had its Sci-Tech Innovation Board IPO application accepted on May 25, with Dongwu Securities acting as the sponsor, aiming to raise 1.555 billion yuan. This marks Sibichi’s return to the Sci-Tech Innovation Board after nearly 4 years. In May 2023, it reached the hearing stage after three rounds of inquiries but was rejected due to the regulatory body pointing out the company’s failure to fully explain the reasonableness of the forecasted compound growth rate of operating income for the next four years. Compared to the previous IPO application, Sibichi’s financial performance…