Beijing Zhipu Huazhang Technology

Beijing Zhipu Huazhang Technology (Ticker: 2513 HK) develops artificial intelligence systems and general-purpose large language models, including models offered through its GLM framework and Z.AI product line. Its profile identifies GLM-4.7 as the latest version in its model line. Revenue was RMB 312.40 million in 2024, and the profile reports revenue compound annual growth of more than 130% since 2022. The company plans to use most of the IPO proceeds for research and development and product capacity, with the remainder allocated to brand promotion, business development and general working capital.

The scheduled listing date on Hong Kong Stock Exchange was January 8, 2026. The proposed offering comprises 37,420,000 shares at an indicative price of HKD 116.20 per share. The base offering would represent HKD 4.35 billion, approximately $554.06 million in gross proceeds, excluding any unexercised over-allotment. The indicated IPO market capitalization is $6.57 billion.

China International Capital Corporation acted as sponsor.