Retail investors face lottery-level odds of securing an allocation in the highly anticipated listing, driven by hopes of massive first-day gains despite the industry’s ongoing path-to-profitability challenges

MSCI adds CXMT to the MSCI China All Shares Index, China’s environmental code takes effect

Backed by tech heavyweights including DeepSeek and Tencent, the startup’s 6 billion yuan IPO reflects soaring investor confidence even as its products remain largely confined to…