Unisound successfully landed on the main board of the Hong Kong Stock Exchange, starting a new journey in the AI industry

At 9:30 a.m. on June 30, 2025, Unisound Intelligent Technology Co., Ltd. (stock code: 09678.HK) was officially listed on the Main Board of the Hong Kong Stock Exchange, with CICC and Haitong International serving as joint sponsors.

The issue price of Yunzhisheng is set at HK$205 (equivalent to RMB 187) per share. After the opening, its stock price showed a clear fluctuation trend, once rising to HK$213.6 (equivalent to RMB 195) per share, an increase of 4.19%, and then fell back. As of 11:14, the stock price was HK$209 (equivalent to RMB 191) per share, an increase of 1.95% over the issue price, with a market value of HK$14.65 billion (equivalent to RMB 13.35 billion).

Yunzhisheng was founded in 2012. As one of the first companies to apply deep learning algorithms to commercial speech recognition, it is also a pioneer in domestic AGI (general artificial intelligence) technology and has achieved fruitful results in technology research and development. In 2015, the company launched a self-developed chip plan and successfully launched the UniOne series of edge interactive AI chips in 2018. At present, Yunzhisheng has built a technology stack consisting of Atlas AI infrastructure, Yunzhi Brain, and AI application solutions. According to the prospectus, Yunzhisheng has supplied 13 million consumer-grade AI chips in 2022, and has commercialized automotive chips through NPU IP licensing.

Looking back on Yunzhisheng's road to listing, it can be said that it has gone through twists and turns. Since 2020, the company has submitted its listing application four times. In 2020, Yunzhisheng submitted its listing application to the Science and Technology Innovation Board and then voluntarily withdrew it. Then, in June 2023, March 2024, and March 2025, it submitted its listing application to the Hong Kong Stock Exchange three times, and finally successfully opened the door to the capital market. Before listing, Yunzhisheng had completed 11 rounds of financing, and the D3 round of financing in 2023 won 700 million yuan. At that time, the company was valued at about 9 billion yuan. Its shareholder lineup is strong, covering JD.com, 360, Qualcomm, Qiming Venture Partners, China Internet Investment, etc. SenseTime Technology joined the listing as a cornerstone investor.

Previously, the issue price range of Yunzhisheng was set at HK$165/share - HK$205/share. According to the median issue price of HK$185 (equivalent to RMB 169)/share in the prospectus, it plans to raise HK$177 million (equivalent to RMB 162 million), of which about HK$81 million (equivalent to RMB 74 million) will be used for key areas such as Atlas AI construction, Yunzhi Brain upgrade and talent training.

This listing on the main board of the Hong Kong Stock Exchange marks Yunzhisheng's entry into a new track in the capital market. Relying on its deep technical accumulation and diversified industrial layout in the field of AI, Yunzhisheng will continue to improve its technology stack system based on the investment of raised funds in core technology research and development, talent reserves, etc. Driven by the dual development of the capital market and industry, Yunzhisheng's subsequent performance in the AI market is worthy of continued attention and tracking.