Domestic large model company Jié Yuè Star will complete nearly $2.5 billion in financing to accelerate its sprint toward a Hong Kong stock listing

Golden Finance reports that on May 8th, according to the Science and Technology Innovation Board Daily, and sources close to the matter, the domestic large model company Jiayue Xingchen will complete nearly $2.5 billion in financing and has dismantled its red-chip structure. It is understood that in the company’s latest financing round, industry chain capital has actively entered, including Huachin, Longqi, Hao Wei, Zhongxing, and others, covering multiple links from complete machine manufacturing to upstream core components. The involvement of industrial capital behind this is a confirmed trend of model capabilities migrating to end-user applications. Business registration information shows that the company completed a share reform in April, changing from a limited liability company to a joint-stock company. Insiders say that its red-chip structure has also been dismantled, which is generally regarded as a key prerequisite step for a Hong Kong IPO. Additionally, “Hong Kong version of Temasek,” Hong Kong Investment Management Limited (HKIC), also appears on the shareholder list, providing further endorsement for its listing in Hong Kong.