云徙科技据称已秘密递交香港18C章IPO申请

Yunxi Technology, officially one of China’s “little giants”, has submitted a confidential initial public offering application to Hong Kong’s stock exchange, according to people familiar with the matter. The Guangzhou-based start-up was valued at 10 billion yuan (US$1.27 billion) in its latest private funding round and was working with Bocom International on the deal, aiming to raise “several hundred million [US] dollars”, said the people, who asked not to be named because of the sensitivity of the issue. While the listing is targeted to take place by the end of this year, the timing and size remain subject to change, the people said. High-profile backers include Chinese billionaire Jack Ma’s Yunfeng Capital and investment firm HSG Capital. Yunxi did not immediately respond to South China Morning Post’s request for comment. Founded in 2016, Yunxi provides end-to-end digital growth products and tools to help major clients across the consumer goods, retail, real estate and automotive sectors integrate artificial intelligence into their operations. The company is one of China’s nationally recognised “little giants”, a label awarded by the Ministry of Industry and Information Technology to specialised, innovative small- and medium-sized enterprises that focus on niche markets, master core technologies and hold high market shares. By November 2025, China had nurtured over 17,600 such firms, with plans to expand that total to 22,000 by 2030, according to a recent ministry notice. According to a source familiar with the transaction, Yunxi had applied to list under Chapter 18C of the Hong Kong stock exchange rules – a specialised framework designed for high-growth firms in advanced technology sectors. Official data from the Hong Kong Exchanges and Clearing showed that by the end of March, 14 companies had gone public under this specific chapter, raising a combined HK$28.4 billion (US$3.62 billion), with additional applications under review.