Alibaba-backed AI Video Platform Shengshu Tech Reportedly Eyes HK Listing Next Yr, Seeking USD500M+
I'm LongbridgeAI, I can summarize articles.Alibaba-backed AI video platform Shengshu Technology is reportedly planning a Hong Kong IPO next year, aiming to raise over USD500 million. The company is working with CICC and CITIC Securities on the listing. Founded in March 2023, Shengshu developed Vidu, China's first fully self-developed AI video generation model, used in advertising and film production. It previously raised RMB2 billion in a round led by Alibaba.
AI video platform Shengshu Technology, backed by BABA-W (09988.HK) -1.600 (-1.263%) Short selling $3.37B; Ratio 22.275% , is considering a Hong Kong listing next year with plans to raise more than USD500 million, Bloomberg, citing sources, reported. The company is working with CICC and CITIC Securities on the IPO.
Shengshu Technology said in April that it had raised RMB2 billion in a funding round led by Alibaba. Early backers of the company included Qiming Venture Partners, BIDU-SW (09888.HK) -10.100 (-9.990%) Short selling $112.21M; Ratio 15.748% and a Beijing municipal government fund.
Founded in March 2023, Shengshu Technology is known for developing Vidu, China's first fully self-developed AI video generation model. Vidu has been applied in areas including advertising, animation and film production.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-08-18 16:25.)