Chinese AI Startups MiniMax and Zhipu Plan Hong Kong IPOs in Early 2026

Coinotag

Release Time:12/11/2025 19:51:10

Chinese AI startups MiniMax and Zhipu are preparing for Hong Kong IPOs in early 2026, with regulatory approval from the China Securities Regulatory Commission. MiniMax, backed by Alibaba and Tencent, has a $2.5 billion valuation after securing $850 million in funding. Zhipu received $140 million in state funding. Both firms are building large language models competing with global leaders. Hong Kong’s Technology Enterprises Channel is fast-tracking tech IPOs, with over 200 applicants. The city’s IPO market is expected to raise $300 billion by 2026. What is clear is that Hong Kong is becoming a major listing hub for Chinese tech.

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