Chinese AI Unicorn Charges Into Hong Kong Market

In a landmark move for China's artificial intelligence sector, Zhipu HuaZhang has officially begun trading on the Hong Kong Stock Exchange under ticker "2513". The offering period runs through January 5, 2026, with shares scheduled to start trading January 8.

Strategic Pricing Attracts Major Backers

The company priced its shares at HK$116.20 apiece, translating to a staggering HK$51.1 billion valuation that reflects investor confidence in its Tsinghua University pedigree and commercial potential. What's particularly telling is the blue-chip roster of cornerstone investors lining up behind this offering:

• JSC International Investment Fund SPC
• JinYi Capital Multi-Strategy Fund SPC
• Shanghai Gaoyi
• Taikang Life Insurance
• Everbright Fund

Together these financial heavyweights have pledged HK$2.98 billion—a powerful vote of confidence amid current market volatility.

Why This Listing Matters

Zhipu HuaZhang isn't just another tech IPO. As China's premier general artificial intelligence firm going public during an AI investment boom, its performance will likely influence how global markets value similar companies moving forward.

The offering structure allocates 37.4195 million shares total—with about 5% reserved for Hong Kong retail investors and the remaining 95% earmarked for international institutional buyers.

Key Points:

• Historic first listing by a major Chinese large model company
• Strong institutional demand signals confidence in China's AI ecosystem
• Successful debut could pave way for more AI firms to access public markets
• Valuation sets important benchmark for emerging technology companies