Chinese tech firms flock to Hong Kong for IPOs amid DeepSeek-triggered AI boom
A slew of Chinese companies are eyeing initial public offerings (IPOs) in Hong Kong, riding on the stock market impetus provided by artificial intelligence (AI) start-up DeepSeek.
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AICT, a Beijing-based AI solutions provider, aims to raise about US$200 million from a Hong Kong IPO, according to sources familiar with the matter. AICT, whose products are used in robots, intelligent traffic systems and autonomous driving, was expected to file a listing application in the second quarter, one of the sources said.
Citic Securities and CCB International were the sponsors for the deal, said the people who requested anonymity for discussing a private matter. AICT, which counts smartphone and electric vehicle (EV) maker Xiaomi and venture capital firm Gaorong Capital as strategic investors, would seek a Shanghai listing after Hong Kong, one of the people added.
More Chinese tech firms could tap Hong Kong's IPO market amid a shift in the market's perception of AI development in China and a supportive regulatory environment, according to industry experts.
Chinese tech firm AICT aims to raise around US$200 million via a Hong Kong IPO, sources say. Photo: Handout
'With improved sentiment towards tech and AI, mid and large-cap firms in semiconductors, AI and robotics are increasingly exploring IPOs in Hong Kong,' said John Lee Chen-kwok, vice-chairman and co-head of Asia coverage at UBS in Hong Kong.
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