According to LiveReport's big data statistics, as of July 24, 2025, there are 214 companies that have submitted listing applications to the Hong Kong Stock Exchange but have not yet gone public (including one that has passed the listing hearing), among which 48 companies have submitted their prospectuses by industry classification, accounting for 22.43%.
Among these 48 AI-related companies planning to go public, 11 are A+H listed companies, accounting for 22.92% of the AI sector's listings. This reflects that both unlisted and listed AI enterprises in the A-share market are enthusiastic about going public in Hong Kong.
In terms of the number of times the data has been submitted for review, the company with the highest number of submissions is Innocean Intelligence, which has made 3 submissions. Additionally, 9 other companies have submitted their data twice, including Goertek Microelectronics, Minglue Technology, Wuyi Vision, Furetek, Norbikan, and Botai Connected Vehicles.
It is worth mentioning that among the 48 AI-related companies, only Bortech Connected Vehicles has passed the filing with the China Securities Regulatory Commission (CSRC). InSilicon Intelligence had previously passed the filing but its registration has expired and it needs to be re-approved by the CSRC. Additionally, 46 other companies have not yet received the filing notice from the CSRC.
From the perspective of AI attributes, current RNN-based companies mainly focus on the AI application layer, such as various types of terminal robots and AI applications in various industries.
Terminal robots include Estun, Stand, and Yifei Intelligence for industrial robots; Stone Technology for household robots; Kelsey for indoor logistics robots; and Yunji Technology for service robots applied in various scenarios. AI+ industry applications include InspirIQ for AI drug research, DesiBi for AI medical imaging, Dongxin Marketing for AI marketing, and Guoxing Aerospace for AI satellite technology.
At the AI technology level, there are only two companies developing large AI models, namely Dipu Technology and Nobikan; there are also two companies focusing on visual perception, namely Ruiwei Technology and LD Robotics; and only HZTE Technology is engaged in knowledge graphs.
At the basic level of AI, there are two AI chip suppliers, namely Larko Technology and Megvii Innovation; as well as the memory and computing company Lianji Storage.
Source: "Hong Kong Artificial Intelligence Industry White Paper 2024"
In terms of AI industry sponsors, according to LiveReport statistics, among the 48 companies submitting their applications, 18 are exclusively sponsored, 30 are co-sponsored, with DIPU Technology and Botai Connected Vehicles having as many as five sponsors; Goertek Microelectronics, MagnaTech, and Freytex have four sponsors each.
From the perspective of industry consultants for AI companies planning to go public,Frost & SullivanWe provide industry advisory services to the vast majority of AI companies, participating in 33 companies with a leading participation rate, accounting for 68.8% of the market share.
In summary, in recent years, driven by technological breakthroughs (such as large models and autonomous driving), application implementation (intelligent manufacturing and medical AI), and policy support (Digital China and new productive forces), the financing demand in the AI industry has been continuously high.
As an international financing platform, Hong Kong stocks can not only connect with international capital but also enhance the brand influence of enterprises. They have become the top choice for AI companies to go public.
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