It is revealed that another large model unicorn from Tsinghua University is planning to IPO in Hong Kong!

Zhixi Author | Chen Junda Editor | Li Shuiqing Zhixi reported on August 19 that yesterday, according to Bloomberg, citing people familiar with the matter, Beijing's video generation model unicorn Shengshu Technology is considering an IPO in Hong Kong, and the amount of funds raised may exceed 500 million US dollars (approximately RMB 3.37 billion). The company has cooperated with two investment banks, CICC and CITIC Securities. One of the people familiar with the matter said that Shengshu Technology's IPO may be completed next year, and relevant discussions are still ongoing, and specific details such as scale and time may still change. As of press time, Shengshu Technology, CICC, and CITIC Securities have not responded to requests for comment. Shengshu Technology was established in March 2023 and was jointly incubated by RealAI, Ant Group and BV Baidu Ventures. The company’s founder team all have backgrounds in Tsinghua University: Founder and chief scientist Zhu Jun is currently the deputy dean of the Artificial Intelligence Research Institute of Tsinghua University; co-founder and chief technology officer Bao Fan is a PhD student of Zhu Jun and graduated from the Computer Science Department of Tsinghua University. ▲Zhu Jun, founder of Shengshu Technology. Around March 2025, Luo Yihang, the former head of ByteDance Volcano Engine AI solutions, joined Shengshu Technology and served as the company’s CEO. ▲Luo Yihang, the current CEO of Shengshu Technology. According to the enterprise information query platform Qichacha, since its establishment in 2023, Shengshu Technology has accumulated 8 rounds of financing and made an equity change. From 2023 to 2025, Shengshu Technology has received bets from industrial investors such as Ant Group, Baidu, Zhipu, Huawei and Hubble. Industrial and commercial information shows that on March 30 this year, Shengshu Technology completed its shareholding reform, and the company's main body was changed from "Beijing Shengshu Technology Co., Ltd." to "Beijing Shengshu Technology Co., Ltd." Entering 2026, Shengshu Technology’s financing progress has accelerated significantly. In February 2026, the company completed an A+ round of financing of over 600 million yuan, led by Starlink Capital, with participation from Zhongguancun Science City Technology Investment, Vision China and other institutions and enterprises. In April 2026, the company completed nearly 2 billion yuan in Series B financing, led by Alibaba Cloud, China Internet Investment Fund,