Wisdom Map (02513) launches Hong Kong IPO with top-tier cornerstone investors, accounting for nearly 70% of the offering.

On December 30th, Zhipu Huazhang (02513) officially launched its Hong Kong IPO, with an expected end date of January 5, 2026. The company plans to issue 37.4195 million H shares, with 1.871 million H shares to be publicly sold in Hong Kong and 35.5485 million H shares to be internationally sold. The company is scheduled to be officially listed for trading on January 8, 2026. Based on an issue price of HK$116.20 per share, Zhipu Huazhang is expected to raise approximately HK$4.3 billion in this fundraising round, with an estimated IPO market value exceeding HK$51.1 billion. Zhipu Huazhang is a leading artificial intelligence company in China, dedicated to developing advanced universal large models. As the "world's first large model stock", Zhipu Huazhang has attracted a strong market appeal with the support of top cornerstone investors. According to the global public offering documents, Zhipu Huazhang has introduced 11 investment institutions, including JSC International Investment Fund SPC, JinYi Capital Multi-Strategy Fund SPC, Perseverance Asset Management, Shanghai Gaoyi, WT Asset Management, Taikang Life, GF Fund, 3W Fund Management, etc., as cornerstone investors for the listing, with an accumulated planned subscription of HK$2.98 billion, accounting for nearly 70% (assuming that the excess rights issue is not exercised). This includes core state-owned enterprises in Beijing, top insurance funds, large public funds, and star private equity funds, forming a lineup of all-star cornerstone investors.