“全球大模型第一股”智谱启动招股，本次IPO募资总额预计将至多达51亿港元，IPO发行市值预计超518亿港元

Group 1 - The company Beijing Zhipu Huazhang Technology Co., Ltd. (referred to as "Zhipu Huazhang") has officially launched its IPO process on the Hong Kong Stock Exchange, which will end on January 5, 2026 [1] - Zhipu plans to issue a total of 37.4195 million H-shares in this IPO, with 1.871 million shares allocated for public offering in Hong Kong and 35.5485 million shares for international offering [1] - The estimated total fundraising amount for the IPO could reach up to 5.1 billion HKD, assuming the full exercise of the over-allotment option, with an expected market capitalization exceeding 51.8 billion HKD [1]