New stock news | Kunlun Tech (300418.SZ) is planning to list on the Hong Kong stock market, with a focus on advancing AGI and AIGC businesses in the future.

On August 11, Kunlun Tech (300418.SZ) announced that in order to accelerate the company's internationalization strategy and overseas business development, enhance the company's offshore financing capabilities, and further improve the company's overall competitiveness, the company plans to issue overseas listed shares (H-shares) and list on the Hong Kong Stock Exchange. According to the announcement, the funds raised from Kunlun Tech's H-share issuance, after deducting issuance costs, will be used for (including but not limited to): (1) AI technology and research and development; (2) continuous operation and commercialization of AI product lines; (3) global promotion and market expansion, user acquisition, and brand building; (4) strategic investments and acquisitions, as well as developing a partner ecosystem; (5) optimizing the capital structure; (6) working capital and other general corporate purposes. On the same day, the company disclosed its intention to transfer 99% of the equity held by its wholly-owned subsidiary Beijing Kunno Yingzhan Information Consulting Co., Ltd. in Beijing Xianlai Huyu Network Technology Co., Ltd. to Beijing Xinglan Huyu Network Technology Co., Ltd., with a transaction price of 750 million yuan. Kunlun Tech stated that the company has clearly identified AGI and AIGC as the core strategic directions for future development and is continuing to increase investments in technology research and development, product innovation, industry solutions, and ecosystem construction. The business of Xianlai Huyu has developed a relatively independent operating system and operating model after years of development, but there are certain differences in strategic positioning, technical paths, and industrial synergy with the AGI and AIGC business that the company will focus on in the future. Public information shows that Kunlun Tech was established in 2008 and was listed on the Shenzhen Stock Exchange in 2015. Currently, its operations cover multiple fields including AGI and AIGC, information distribution, the metaverse, social entertainment, and gaming. Since establishing the "ALL in AGI and AIGC" strategy in 2022, Kunlun Tech has built a diverse AI business matrix consisting of AI intelligent assistants, AI video, AI music and audio, AI gaming, and AI social. In the first quarter of 2026, the company achieved operating revenue of approximately 2.57 billion yuan, a year-on-year increase of 45.69%; the net profit attributable to shareholders of the listed company was approximately -888 million yuan, a year-on-year decrease of 15.34%.