Zhiyuan Launches New Funding Round at RMB 50 Billion Valuation, IPO Postponed

Odaily News: According to investors, embodied intelligence unicorn company Zhiyuan Innovation has recently launched a new round of financing, raising approximately RMB 1 billion to 1.5 billion. This round is nearing completion, with the latest valuation at approximately RMB 50 billion. In July 2026, Zhiyuan announced the commencement of preparations for a Hong Kong stock exchange listing. At the time, investors said Zhiyuan was expected to list as early as August, with a target valuation of HKD 40 billion to 50 billion.

According to the relevant requirements of the Hong Kong Stock Exchange, if a listing applicant completes new financing after filing but before listing, unless a special exemption is obtained, the applicant must wait 120 days after the financing is completed before it can be listed for trading. The aforementioned investors said the new funding round means Zhiyuan will be unable to complete its IPO within this year. Regarding the new financing, valuation, and IPO progress, a relevant person in charge at Zhiyuan said there is no comment for now. (Caijing Magazine)