PANews reported on December 31 that, according to the South China Morning Post, Chinese artificial intelligence company Zhipu AI has launched its Hong Kong IPO, planning to raise HK$4.35 billion (approximately US$560 million), becoming the first listed large language model (LLM) developer in Hong Kong. The offering price is set at HK$116.2 per share, with listing expected on January 8, valuing the company at approximately HK$51.16 billion. Zhipu previously completed a financing round of over RMB 8.3 billion, with investors including Meituan, Alibaba, Tencent, and Xiaomi.