Odaily Planet Daily reports that Moonshot AI, the parent company of Kimi, has confidentially submitted an A1 application to the Hong Kong Stock Exchange, officially initiating its HK IPO process. Meanwhile, the company is advancing a new round of funding at a pre-money valuation of approximately $50 billion, expected to be its final round before the IPO. According to public and market sources cited in the report, Kimi accelerated its model iterations this year, releasing K2.5, K2.6, and K3 in succession, updating roughly every three months. On the revenue side, Kimi’s annualized recurring revenue (ARR) surpassed $100 million in early March and grew to around $300 million by mid-June; after the launch of K3, enterprise ARR increased several-fold. As usage volume and computing demand rose, Moonshot AI raised its valuation from approximately $4.3 billion at the end of 2025 to the current level of about $50 billion through multiple funding rounds. (LatePost)
Kimi's parent company, Yue Zhi An Mian, files for a Hong Kong IPO with a $500 billion valuation
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Summary
Yue Zhi An Mian, the parent company of Kimi, has filed for a Hong Kong IPO with a $500 billion valuation. The company is also in the final stages of a new funding round. Recent model updates, including K2.5, K2.6, and K3, have driven rapid ARR growth. Project funding news shows ARR increasing from $100 million to $300 million in just three months. The company’s valuation has surged from $4.3 billion to $500 billion in recent funding rounds. New token listings and enterprise demand are key factors behind the valuation increase.
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