According to reports citing sources familiar with the matter, Chinese artificial intelligence company Yuntu Technology has submitted a listing application to the Hong Kong Stock Exchange on a confidential basis.

The company is targeting a public offering by the end of this year, though the exact timeline and fundraising amount may still be subject to change.

Sources indicate that Yuntu Technology previously raised several hundred million US dollars through private fund structures, which values the company at approximately 10 billion yuan.

Founded in 2016, Yuntu Technology is an enterprise-grade AI application solutions provider and a national-level "Little Giant" specialized and innovative enterprise. Its core product is the xGOS.AI enterprise operations super-intelligent agent.

The company has secured strategic investments from prominent investors including Sequoia Capital China, Tencent Investment, Yunfeng Capital, Kaixin Capital, CICC Jiatai Fund, Yuanhe Zhongyuan, Xianghe Capital, and Yingu Capital.