Beijing DeepZero Technology More Than Triples in Hong Kong Trading Debut

About this update from Beijing Deepzero Technology Co., Ltd. Class H

(01:29 GMT) *Beijing DeepZero Technology Shares Soar 179% in Hong Kong Trading Debut (02:54 GMT) Beijing DeepZero Technology More Than Triples in Hong Kong Trading DebutBy Jason ChauShares of Chinese artificial intelligence firm Beijing DeepZero Technology more than tripled in its Hong Kong trading debut, on sustained investor optimism surrounding China's advancements in applied AI.Beijing DeepZero raised 465.1 million Hong Kong dollars, equivalent to US$59.4 million, in its initial public offering, after issuing close to 9.1 million shares at HK$55.50 each.Its stock jumped to as much as HK$230.00 from its offering price in early trading Wednesday before paring some gains. Shares were last trading at HK$198.50.The company specializes in developing a suite of AI agents known as Deep Agent, which are based on open-source AI models, to help businesses automate marketing and improve ad performances.It also operates two flagship intelligent software platforms, AlphaDesk and AlphaData, which provide advertising and data management services for businesses.The firm has worked with major Chinese technology conglomerates, including Tencent, Kuaishou and ByteDance.DeepZero previously said in an exchange filing it plans to use the net proceeds from the offering on AI research and development, sales network expansion and strategic acquisitions.China has become a global leader in AI adoption, integrating AI technologies into a wide range of everyday applications and regular business operations from marketing to administrative tasks.AI adoption in China has been heavily supported by Beijing, with policymakers prioritizing the use of lower-cost AI to bolster the real economy, particularly sectors such as manufacturing and public service provision, instead of focusing solely on the development of cutting-edge AI models.Earlier this year, the country experienced an "OpenClaw craze," when AI users rushed to download the autonomous AI agent to handle daily tasks, highlighting robust demand for agentic AI in China.Write to Jason Chau at [email protected]

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