On January 8, Knowledge Atlas Technology Joint Stock Company Limited successfully listed on the main board of the Hong Kong Stock Exchange (Stock abbreviation: Zhipu; Stock Code: 02513.HK), becoming the world’s first listed company focused on a general artificial intelligence (AGI) foundational model as its core business.

 

Knowledge Atlas Technology Joint Stock Company Limited (Hereinafter referred to as Z.ai) founded in 2019, is an artificial intelligence enterprise derived from the transformation of technological achievements from Tsinghua University, with its headquarters located in Beijing. Z.ai is dedicated to developing advanced general large models. As of September 30, 2025, its GLM series models have empowered 12,000 enterprise clients, over 80 million end-user devices, and more than 45 million developers worldwide, making it China's largest independent general large model provider in terms of end-user device empowerment. According to a Frost & Sullivan report, Z.ai ranked first among independent general large model developers in China by revenue in 2024 and second across the entire industry.

 

Linklaters served as the issuer’s legal advisor for Hong Kong and U.S. laws.

Tian Yuan Law Firm served as the issuer’s legal advisor for Chinese law.

King & Wood Mallesons provided services to the issuer regarding international sanctions laws.

Bayfront Law LLC provided services to the issuer regarding Singapore data protection laws.

Baker McKenzie served as the legal advisor for Hong Kong and U.S. laws to the sponsors and underwriters.

Commerce & Finance Law Offices served as the legal advisor for Chinese law to the sponsors and underwriters.