Zhipu is actively preparing for an initial public offering (IPO) in both the Hong Kong and A-share markets, with a greater likelihood of listing on the A-share market. According to sources close to Zhipu's IPO plans, the company has secured investments from state-owned capital in various regions this year. Most recently, Zhipu received a strategic investment of 1 billion yuan from Pudong Venture Capital Group and Zhangjiang Group. This insider opines that the prospects for Zhipu's listing on the A-share market are particularly promising. As of now, Zhipu has not issued an official response to these developments.