Reuters: IPOX® Associate Lukas Muehlbauer Comments on DSC’s U.S. IPO Filing and China-Linked Listings
Reuters reported that China-based software maker DSC disclosed a nearly 29% decline in 2025 revenue as it filed for a U.S. IPO following rare regulatory clearance from the China Securities Regulatory Commission. The company, which provides operating systems, software, and transaction services for used-car dealers and automotive merchants in China, reported 2025 revenue of 677.1 million yuan, down from 948.2 million yuan in 2024, while narrowing its net loss.
IPOX® Associate Lukas Muehlbauer was quoted in the article discussing the timing and significance of DSC’s U.S. listing plans. He noted that DSC is seeking to align its regulatory clearance in China with improved U.S. IPO market conditions, particularly as investor sentiment toward non-U.S. domiciled deals strengthens.
“DSC is using the opportunity to line up its rare clearance from Chinese regulators with the strongest U.S. IPO market of the past few years, as positive U.S. sentiment is broadening out to non-U.S. domiciled deals,” Muehlbauer said.
“The approval is a positive signal that qualified China-linked companies can still access U.S. markets when they meet the rules,” Muehlbauer said, adding that a Nasdaq listing would help the company present itself as a technology, data and AI platform rather than being viewed mainly through the narrower lens of used car dealers.
Read the full article by Prakhar Srivastava on Reuters: China's DSC reveals fall in 2025 revenue in US IPO filing
