A Beijing-based artificial intelligence (AI) solutions provider is preparing to list in Hong Kong and set up its international headquarters in the city, a minister has said, while vowing to attract more creative enterprises that have adopted innovation and technology-based strategies.
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The announcement from Financial Secretary Paul Chan Mo-po on Sunday confirmed an earlier Post report that AICT aimed to hold an initial public offering in Hong Kong. Sources at the time said the company was seeking to raise about US$200 million.
“Apart from setting up an international business headquarters and a global research and development centre in Hong Kong, [the company] told me it was also preparing for listing in Hong Kong to further expand its business to other markets around the world,” Chan wrote in his weekly blog.
AICT focuses on researching and developing high-precision AI intelligence products in areas such as smart traffic management, self-driving vehicles, perception robots, and the low-altitude economy.
Its products have been used in more than 50 mainland Chinese cities, including the capital and Shanghai, in addition to serving over 1 billion car trips, according to the company’s website.
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On Sunday, Chan said the Hong Kong Stock Exchange was processing more than 100 listing applications, including a leading international enterprise in the new energy field and a mainland start-up known as one of the “Six Little Dragons” in Hangzhou.
The phrase refers to six start-ups, comprising spatial design enterprise Manycore Tech, artificial intelligence (AI) company DeepSeek, Black Myth: Wukong developer Game Science, humanoid robot maker Unitree, brain-computer interface firm BrainCo and robot dog specialist Deep Robotics.