Beijing Zhipu Huazhang Technology Co., Ltd. has made its official debut on the Hong Kong Stock Exchange, marking it as the first listed entity in Hong Kong with proprietary general-purpose large-scale AI models as its cornerstone assets. On January 9, MiniMax is also set to be listed on the Hong Kong Stock Exchange. Presently, Chinese AI companies are expediting their industrialization and capitalization endeavors, with downstream AI application firms and upstream AI chip and GPU companies leading the charge. In the realm of AI large-scale models, Zhipu and MiniMax have opted to secure funds through public listings. Concurrently, Beijing Yuezhi'anmian Technology Co., Ltd. has successfully concluded its Series C funding round. China's AI large-scale model market has reached a pivotal juncture, with resources potentially funneling towards industry frontrunners. The institutional strengths of the Hong Kong Stock Exchange have lured a plethora of capital investments into AI firms, with Zhipu flaunting a robust lineup of cornerstone investors and a host of past investment entities. Mi Lei posits that the spillover effects of large-scale model capabilities have ushered in innovative opportunities for entrepreneurs, and this advantage should be vigorously harnessed. Furthermore, the Hong Kong stock market has demonstrated a high degree of tolerance for AI enterprises that have not yet attained profitability, drawing widespread interest from international capital, with MiniMax clinching investments from top-tier global institutions.