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Caixin Global
Caixin Global

The Week Ahead (Jan. 5–11): Chinese AI Startups Line Up for Hong Kong IPOs

Jan. 5: Domestic air-fuel surcharges cut

Fuel surcharges for domestic flights in China will be cut starting Jan. 5. Fees for adults will drop by 10 yuan to 10 yuan for flights under 800 kilometers, and by 20 yuan to 20 yuan for longer routes.

Jan. 5: Vietnam starts economic census

Vietnam kicks off a national economic census running through Aug. 31 to collect data on businesses and foreign entities. Preliminary results are expected in January 2027.

Jan. 6: Lenovo to launch AI agent

Lenovo Group Ltd. will launch its “personal super AI agent” at its innovation conference. The system uses personalized algorithms to coordinate wearable, portable and environmental devices.

Jan. 6: State Council to brief green consumption

The State Council Information Office will hold a briefing on promoting green consumption, featuring officials from the commerce, environment and agriculture ministries.

Jan. 7: South Korean leader visits China 

South Korean President Lee Jae-myung will travel to China for a state visit between Jan. 4 and 7. The four-day trip will make Lee the first sitting South Korean president to visit since 2019.

Jan. 8: Zhipu AI debuts in Hong Kong

Zhipu AI starts trading on the Hong Kong Stock Exchange after an initial public offering that raised about HK$4.35 billion ($560 million), giving the company a post-IPO valuation of around HK$51.2 billion. The company, incubated from Tsinghua University’s research ecosystem, is one of China’s leading developers in the large-language-model sector.

Jan. 8: Iluvatar CoreX debuts in Hong Kong

Domestic GPU maker Shanghai Iluvatar CoreX Semiconductor Co. Ltd. begins trading in Hong Kong. The company planned to offer 25.43 million shares at HK$144.60 each, granting it a market capitalization of HK$35.44 billion.

Jan. 8: TikTok Shop hikes commission fees

TikTok Shop increases seller commission rates to 9% in five EU countries, including Germany and France. This follows a similar hike in the U.K. market in late 2024.

Jan. 9: MiniMax debuts in Hong Kong 

AI startup MiniMax begins trading on the Hong Kong exchange to raise an expected HK$4.19 billion. Established by former SenseTime executive Yan Junjie, the company targets a valuation of roughly HK$50.4 billion.

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