China AI supply-chain IPOs hold firm despite valuation pullback, Citi says

(Corrects spelling of Simon Yuan s surname throughout) By Selena Li Bangkok, Oct 17 (Reuters) Listings of Chinese AI supply chain companies are expected to stand their ground weathering rising valuation ​concerns and increasingly sharper scrutiny, a Citi banker working ‌with Chinese companies said. • Despite recent valuation pullbacks on data centre companies, largely originating from the US market, future AI supply-chain listings would continue in Hong Kong, said Simon Yuan, Citi s head of China investment banking. • Chinese companies ‌plan ​to list in Hong Kong are cushioned ⁠by a roughly even ⁠split between domestic Chinese and international demand, Yuan, who also heads Citi’s financial institutions group in APAC, said on the sidelines of the IMF meetings in Bangkok. • The market is supported ​by a pool of local liquidity, with rising southbound capital from the Chinese mainland emerging as a key buying force, ⁠Yuan said. • Still, if the whole AI ⁠cycle turns in the US — and we h