Chinese AI Unicorn Jieyu Star Prepares for Hong Kong Listing

In what could become a landmark moment for China's AI industry, Shanghai-based startup Jieyu Star is reportedly preparing for an initial public offering in Hong Kong. The company, founded by former Microsoft global vice president Jiang Daxin, aims to raise approximately $500 million in what would be one of the most anticipated tech listings of 2026.

From Microsoft Roots to AI Frontier

Jiang Daxin brings serious tech credentials to the table. After years shaping Microsoft's global strategy, he launched Jieyu Star in 2023 with a clear vision: bridging advanced AI models with everyday hardware. "We're not just building another language model," insiders say of the company's approach. "The goal is seamless integration - putting powerful AI in people's hands through their devices."

Funding Momentum Builds

The startup's recent funding round tells its own story:

• $500 million RMB raised in January's B+ round
• Tencent doubling down on its investment
• New backers including Shanghai Guotou Pioneer Fund and China Life Equity

This financial vote of confidence comes as Jieyu Star expands its shareholder base, recently adding state-owned China Beizhang Communications while increasing registered capital to nearly 24 million RMB.

Why Hong Kong? Why Now?

The timing isn't accidental. As AI development costs skyrocket - especially for computing power and R&D - public markets offer a viable path for well-positioned players. Industry analysts see Jieyu Star's potential listing as more than just corporate milestone; it could recalibrate how investors value China's homegrown AI capabilities.

"Successful IPOs create ripple effects," notes THS Finance analyst Li Wei. "When quality tech firms go public, they validate entire sectors while attracting fresh capital."

Key Points:

• Valuation target: Potentially exceeding $2 billion
• Leadership: Former Microsoft VP Jiang Daxin at the helm
• Strategy: Focused on "AI + Terminal" hardware integration
• Backers: Tencent leads existing investors in latest funding round
• Market impact: Could spark wave of Chinese AI listings