New stock news | The dark side of the month will adjust the company's structure to pave the way for a Hong Kong IPO.

One of the "AI Six Tigers" in China, Moonshot AI, has reportedly informed its investors that it will adjust its company structure to comply with the increasingly stringent requirements for Chinese companies seeking overseas listings, paving the way for its initial public offering (IPO) in Hong Kong. According to media reports citing sources familiar with the matter, Moonshot AI stated in an email to shareholders this week that it will begin dismantling its "red chip" structure, where entities registered overseas hold assets and operations within China. Earlier this month, it was reported that Moonshot AI had completed a new round of financing of about $2 billion, with a post-investment valuation exceeding $20 billion. This round of financing was led by Meituanda Dragon Ball Fund, a subsidiary fund of Meituan (03690), with participation from China Mobile Limited (00941) and CITIC Industrial Fund. As early as March this year, there were reports that Moonshot AI was planning to list in Hong Kong, with discussions on potential IPO matters with CICC and Goldman Sachs. Moonshot AI was founded by former Tsinghua University professor Yang Zhilin, with investors including Alibaba, Tencent, and Wuyuan Capital. On the product front, the latest AI programming model Composer 2.5, built on the Kimi K2.5 model, was officially integrated into the globally renowned programming application Cursor on May 18. This model has shown excellent performance in multiple benchmark tests, demonstrating strong technical capabilities and commercialization potential. The "AI Six Tigers" include KNOWLEDGE ATLAS (02513), Xiyu Technology MINIMAX (00100), Moonshot AI, StepFun, Baichuan AI, and 01.AI, with KNOWLEDGE ATLAS and MINIMAX already listed in Hong Kong. StepFun is reportedly set to complete nearly $2.5 billion in financing this month and has also dismantled its red chip structure to accelerate its push for a Hong Kong IPO.