CloudWalk Technology. [Photo/gznsnews.com.cn]

CloudWalk Technology has been approved to be listed on the Shanghai Stock Exchange, according Shanghai Stock Exchange notice, local media outlets reported on July 20.

The company, which registered in March 2015 in Guangzhou's Nansha district, mainly manages research and development of facial recognition technologies and products.

It is currently the first Nansha unicorn company being listed on the science and technology innovation board.

Unicorns refer to enterprises that have a market value of at least $1 billion before going public.