Key Metrics
11.57
Heat Index-
Impact LevelMedium
-
Scope LevelNational
-
Last Update2025-12-19
Key Impacts
Positive Impacts (10)
Negative Impacts (1)
Event Overview
Rapid revenue growth and substantial R&D investment characterize the financial performance of a leading Chinese AI firm. The company, heavily focused on research and development, is poised for an initial public offering in Hong Kong.
Collect Records
Chinese AI Firm Zhipu Passes Hong Kong IPO Hearing
Zhipu, the largest independent large model manufacturer in China, has passed the Hong Kong Stock Exchange's listing hearing and disclosed its prospectus. The company reported revenues of 57.4 million yuan in 2022, 124.5 million yuan in 2023, and 312.4 million yuan in 2024, showing a doubling trend over three consecutive years. As of 2024, 74% of the company's workforce is dedicated to research and development. From 2022 to 2024, the R&D investments were 84.4 million yuan, 528.9 million yuan, and 2.1954 billion yuan, respectively, totaling approximately 4.4 billion yuan. The GLM series models are updated every 3-6 months, with the latest model ranking first globally in code capability on the Code Arena. By September 30, 2023, Zhipu had served 12,000 corporate clients, more than 80 million terminal devices, and 45 million developers, making it the leading independent general-purpose large model manufacturer in China. Founded in 2019, Zhipu originates from technology transfer from Tsinghua University and is a leader in China's large model technology.