Zhipu (02513) will be launching its initial public offering from December 30 to January 5, proposing to globally sell 37.4195 million H shares.

Wisdom Map (02513) will go public from December 30, 2025 to January 5, 2026. The company plans to globally sell 37.4195 million H shares, with 5% allocated for sale in Hong Kong, 95% for international sale, and an additional 15% for over-allotment option. Each share will be sold at 116.20 Hong Kong dollars, and H shares will be traded in lots of 100 shares. Trading of H shares is expected to begin on January 8, 2026 at 9:00 am on the Hong Kong Stock Exchange. We are a leading artificial intelligence company in China, dedicated to developing universal large models. In 2019, we were established with the bold vision of pursuing General Artificial Intelligence (AGI) innovation in China. We have solidly delivered advanced technology in all-round artificial intelligence research, steadily expanding its commercial applications to achieve rapid revenue growth. In 2021, we released China's first proprietary pre-trained large model framework, the GLM framework, and launched our Model as a Service (MaaS) platform for product development and commercialization, providing our large model services through the platform. In 2022, we open-sourced the first 100 billion-scale model (GLM-130B). We operate in the Large Language Model (LLM) market, a sub-category of the broader AI market, offering universal large model services to institutional clients (including private enterprises and public industry entities) and individual users (including individual end-users and independent developers). As of June 30, 2025, our models have supported over eight thousand institutional clients and approximately 80 million devices. According to Frost & Sullivan's data, based on 2024 revenue, we ranked first among independent Universal Large Model developers in China and second among all Universal Large Model developers with a market share of 6.6%. In the performance period, we achieved significant revenue growth. In 2022, 2023, and 2024, our revenues were 57.4 million, 124.5 million, and 312.4 million RMB, respectively, with a compound annual growth rate of over 130%. As of June 30, 2024, and the six months ending June 30, 2025, our revenues were 44.9 million and 190.9 million RMB, respectively. The company has entered into cornerstone investment agreements with JSC Internatio...