Yanyu Tech, parent company of AI design platform Lovart, targets HK IPO with $3 billion valuation

According to Beating Monitor, Yanyu Technology, the parent company of AI-designed agent Lovart, is in preliminary discussions with advisors regarding a Hong Kong IPO. The company is also nearing completion of a new funding round, with a potential valuation of $3 billion. Lovart targets designers and creators, generating, modifying, and producing visual assets in bulk based on a single prompt. It does not develop its own foundational models but primarily leverages third-party models such as GPT and Gemini. Yanyu Technology also operates LiblibAI, Xingliu, and LibTV in China. In June, Yanyu Technology completed a B+ round of financing worth nearly $300 million, post-money valuation exceeding $2 billion. As of May, the company’s ARR (annualized recurring revenue) surpassed $300 million. If the new funding round closes, its valuation could rise to $3 billion within less than two months.