Beijing Zhipu Huazhang Technology Co., Ltd. revealed its prospectus today, announcing that it will go to Hong Kong to launch the “first stock in the world's big model”. According to the prospectus, revenue for 2022, 2023, and 2024 was 57.4 million yuan, 124.5 million yuan, and 312.4 million yuan, respectively. The compound annual revenue growth rate from 2022 to 2024 reached 130%. Revenue for the first half of 2025 was 190 million, and revenue doubled for three consecutive years. During the reporting period, the company's revenue mainly came from big model revenue, which also supported it to become the largest independent big model manufacturer in China. This listing in Hong Kong marks the first time that the capital market will welcome a listed company whose core business is to independently develop the AGI base model.

Beijing Zhipu Huazhang Technology Co., Ltd. revealed its prospectus today, announcing that it will go to Hong Kong to launch the “first stock in the world's big model”. According to the prospectus, revenue for 2022, 2023, and 2024 was 57.4 million yuan, 124.5 million yuan, and 312.4 million yuan, respectively. The compound annual revenue growth rate from 2022 to 2024 reached 130%. Revenue for the first half of 2025 was 190 million, and revenue doubled for three consecutive years. During the reporting period, the company's revenue mainly came from big model revenue, which also supported it to become the largest independent big model manufacturer in China. This listing in Hong Kong marks the first time that the capital market will welcome a listed company whose core business is to independently develop the AGI base model.