--- title: "Market value of 19 billion! Three AI scientists from the Chinese Academy of Sciences ring the bell on the Hong Kong stock market" type: "News" locale: "en" url: "https://longbridge.com/en/news/290916805.md" description: "WENGE AI was listed on the main board of the Hong Kong Stock Exchange on June 26, with an issue price of HKD 60.7, raising approximately HKD 901 million. As the \"first AI stock from the Chinese Academy of Sciences,\" its stock price performed strongly, surging 81.22% at the opening, with a market capitalization of nearly HKD 19 billion. The company was founded by three AI scientists from the Chinese Academy of Sciences and is dedicated to enterprise data analysis and decision intelligence" datetime: "2026-06-26T05:19:03.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/290916805.md) - [en](https://longbridge.com/en/news/290916805.md) - [zh-HK](https://longbridge.com/zh-HK/news/290916805.md) --- # Market value of 19 billion! Three AI scientists from the Chinese Academy of Sciences ring the bell on the Hong Kong stock market "The first stock of the general decision-making large model" has arrived. On June 26, Beijing Zhongke Wenge Technology Co., Ltd. (hereinafter referred to as: Zhongke Wenge) officially listed on the Hong Kong main board, with an issue price of HKD 60.7, raising a total of approximately HKD 901 million, with a net fundraising amount of approximately HKD 827 million. In the dark market yesterday, Zhongke Wenge surged 90%, closing at HKD 115.4, corresponding to a market value of approximately HKD 19.976 billion. Today, at the opening, Zhongke Wenge rose 81.22% to HKD 110, with an opening market value of HKD 19.041 billion. As of the midday break, Zhongke Wenge rose 87.48% to HKD 113.8, with a total market value of HKD 19.699 billion. The IPO process shows that in June 2025, Zhongke Wenge submitted a confidential application to the Hong Kong Stock Exchange; in April 2026, Zhongke Wenge officially submitted an application under the 18C rule just 2 days after being recorded by the CSRC; in June 2026, it passed the hearing. In this IPO, Zhongke Wenge's cornerstone investors subscribed a total of USD 31 million, among which, China Orient Enhanced Income Fund and Harvest Global Investments Limited each subscribed USD 6 million, Qianhai International Fund Management Co., Ltd., Guohui (Hong Kong) Holdings Limited, and Huatai Capital Investment Co., Ltd. each subscribed USD 5 million, and Minyin International Investment (Hong Kong) Limited subscribed USD 4 million. Zhongke Wenge was founded in 2017 by AI scientists from the Institute of Automation, Chinese Academy of Sciences, and has always been committed to enterprise data analysis and decision intelligence. Wang Lei serves as the chairman and executive director, holding a PhD in Management Science and Engineering from Tianjin University, a researcher at the Institute of Automation, Chinese Academy of Sciences, and a postdoctoral fellow at the National Information Center of the National Development and Reform Commission. He is currently the deputy director of the Beijing Key Laboratory of Artificial Intelligence Safety and Super Alignment. CEO Dr. Luo Yin is a researcher at the Institute of Automation, Chinese Academy of Sciences, and the chief architect of the National Big Data Major Project; Chief Scientist Professor Zeng Dajun is the deputy director of the Institute of Automation, Chinese Academy of Sciences, the deputy director of the National Key Laboratory of Multimodal Artificial Intelligence, an undergraduate of the Youth Class of the University of Science and Technology of China, a PhD from Carnegie Mellon University, and a lifelong professor returning to the United States. With these three AI scientists at the helm, and a smooth listing, Zhongke Wenge has also become the "first stock of artificial intelligence from the Chinese Academy of Sciences." In the 9 years since its establishment, Zhongke Wenge has raised over 1.6 billion yuan in 10 rounds of financing during the 7 years from 2018 to 2025, backed by national-level funds and well-known investment institutions such as the National Development Bank's Manufacturing Transformation and Upgrading Fund, the CCTV Integrated Media Industry Investment Fund, the China Internet Investment Fund, the Beijing Artificial Intelligence Industry Investment Fund, Zhongguancun Science City, the Chinese Academy of Sciences Venture Capital, Shenzhen Capital Group, Zhongke Chuangxing, and Yingfu Taike Before the IPO, Beijing Zhongke Sanshi Technology Development Co., Ltd. was the controlling shareholder, holding 16.57%. The actual controller is Wang Lei, who, through controlling Zhongke Sanshi, Hainan Xinyi, WENGE AI, and WENGE Jiangcai, along with the concerted action arrangements of Luo Yin and Zeng Dajun, collectively controls approximately 30.66% of the voting rights of the company. After the IPO, Zhongke Sanshi holds 15.1536% of Zhongke WENGE's shares; Dr. Wang Lei, Dr. Luo Yin, and Professor Zeng Dajun hold 1.6269%, 4.2402%, and 2.2169% of the shares, respectively. In addition, among senior independent investors, the National Development Fund for Manufacturing Transformation and Upgrading holds 5.2978%; Shenzhen Capital Group holds a total of 4.1462%; China National Investment holds 3.3525%. Among other senior independent investors, Zhongke Chuangxing holds a total of 2.9521%; Guoke Capital holds a total of 2.8657%; Beijing Xinding Rongsheng Capital holds a total of 2.6201%; Guoke Jiahe holds 0.5183%. Among other investors, Hengbang Capital holds a total of 7.2918%; the investment platform of the Institute of Automation, Chinese Academy of Sciences holds 5.3206% through Zhongzi Investment; Zhongke Youcai holds 5.3039%; and the AI Fund holds 3.7138%. In the industry, Zhongke WENGE is known as the "Chinese version of Palantir." According to the prospectus, as an emerging enterprise-level artificial intelligence technology and service provider in China, Zhongke WENGE focuses on complex data analysis and AI-assisted decision-making. Zhongke WENGE independently develops key artificial intelligence capabilities and provides a full-stack AI service matrix. Its capabilities cover data governance, domain knowledge management, large language and multimodal model training, decision automation and evaluation, as well as low-code AI application development, serving various institutions in China's technology-intensive industries, aiming to assist in the digital transformation empowered by artificial intelligence in public services, media and communications, and business enterprises, which are crucial for social and economic development. During the track record period, the company has provided professional AI services to over 650 enterprises and government clients. According to ZhiShi Consulting, based on revenue in 2025, Zhongke WENGE is the largest enterprise-level large model-driven decision intelligence service provider in China, with a market share of 10.2%; it ranks eighth in the Chinese enterprise-level large model market, with a market share of 2.2%. From 2023 to 2025 (hereinafter referred to as the "reporting period"), Zhongke WENGE's revenue mainly comes from the application of AI services in media and communications, public services, and business enterprises, approximately 239 million, 310 million, and 399 million yuan, accounting for as high as 95.7%, 97.6%, and 98.4%, respectively. During the reporting period, Zhongke WENGE's revenue was approximately 250 million, 318 million, and 405 million yuan, respectively; gross profit was approximately 110 million, 160 million, and 208 million yuan, with gross profit margins of 44.0%, 50.4%, and 51.2%, respectively; The net losses were approximately 260 million, 157 million, and 166 million yuan, with adjusted net losses of approximately 186 million, 115 million, and 101 million yuan. As of the end of 2025, WENGE AI holds approximately 325 million yuan in cash and cash equivalents. In this IPO, WENGE AI plans to use the raised funds for continued investment and enhancement of its foundational models and core R&D capabilities; product service expansion, brand building, and cross-industry customer coverage expansion; and allocation of funds for potential strategic investments, mergers and acquisitions, and overseas expansion ### Related Stocks - [01956.HK](https://longbridge.com/en/quote/01956.HK.md) ## Related News & Research - [Institutions Back Sui’s Hashi to Bridge Bitcoin DeFi as Testnet Launch Approaches](https://longbridge.com/en/news/291038147.md) - [PRES TRUMP CANCELS SIGNING OF FRESHLY PASSED HOUSING BILL, ADDING IT TO HIS HOSTAGE CAMPAIGN TO GET 'SAVE AMERICA' VOTING RIGHTS BILL PASSED FIRST](https://longbridge.com/en/news/290712240.md) - [Rules before resources: Europe’s investment agenda for Central Asia](https://longbridge.com/en/news/290692799.md) - [The Wall Street equivalent of roster-cut day happens Friday. 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