---
title: "Tencent invests in \"AI Six Little Tigers\" to leap to the stars, rumored to plan for a Hong Kong listing"
description: "Tencent-invested AI large model company StepFun plans to go public in Hong Kong, aiming to raise USD 500 million. The company completed a B+ round financing of over 5 billion RMB in January this year,"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/276968911.md"
published_at: "2026-02-26T01:55:48.000Z"
---

# Tencent invests in "AI Six Little Tigers" to leap to the stars, rumored to plan for a Hong Kong listing

> Tencent-invested AI large model company StepFun plans to go public in Hong Kong, aiming to raise USD 500 million. The company completed a B+ round financing of over 5 billion RMB in January this year, with investors including Tencent. At the same time, four other mainland companies also plan to list in Hong Kong, collectively raising up to USD 700 million, among which cloud-native space design software provider Manycore Tech plans to raise USD 200 million to USD 300 million. Companies like Meige Intelligent and Chuangxiang Sanwei are also preparing for an IPO

Following the listing of domestic large model concept stocks Zhipu (2513) and MINIMAX (100) at the beginning of the year, another "AI Six Little Tigers" is set to go public in Hong Kong. According to Bloomberg, StepFun, a large AI model in which Tencent (700) has invested, is considering an IPO in Hong Kong to raise USD 500 million (approximately HKD 3.9 billion). StepFun announced in January this year that it had completed over RMB 5 billion in Series B+ financing, with participating institutions including China National Investment and Guaranty Corporation, China Life Equity Investment, XuHui Capital, and existing shareholder Tencent participating in the follow-on investment.

According to IFR, four mainland companies are expected to go public in Hong Kong as early as next month, raising a total of up to USD 700 million (approximately HKD 5.46 billion). Among them, the focus is on Manycore Tech, one of the "Hangzhou Six Little Dragons," a provider of cloud-native space design software, which plans to raise USD 200 million to USD 300 million, with JP Morgan and CCB International as sponsors. The company’s core product is the Chinese cloud-native space design platform "CoolHome," and it has launched a localized space design solution called Coohom targeting the Asian and American markets, supporting 18 languages. Manycore Tech had approximately 2.5 million monthly active users last year and also provides spatial intelligence solutions called SpatialVerse.

Meige Intelligent, which is already listed on the Shenzhen Stock Exchange, is expected to be the first to launch, with its Hong Kong initial public offering (IPO) bookbuilding possibly starting this Friday, aiming to raise about USD 150 million. Consumer-grade 3D printer manufacturer Chuangxiang Sanwei may list as early as March, raising about USD 200 million; and circular packaging service provider Youlesai has begun its pre-IPO roadshow in Hong Kong, potentially raising about USD 50 million

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.