The recent Hong Kong stock market for new listings has been ignited by the artificial intelligence wave, with an unprecedented succession of IPOs achieving thousand-fold oversubscription. Following companies such as Biren Technology (2,347.53 times), Zhipu AI (approximately 1,164 times), and MiniMax (1,848 times), HAIZHI TECH GP (02706), known as the first stock focused on AI hallucination elimination, concluded its offering period by setting a new benchmark. Its public offering was oversubscribed by more than 4,068 times, pushing the current wave of AI-related IPO subscriptions to a new peak. HAIZHI TECH GP has not only set the highest oversubscription record for new listings this year but has also achieved a commanding lead among all AI-related IPOs, making it the undisputed leader in AI IPO subscriptions in the Hong Kong market so far in 2026.
The subscription frenzy was primarily driven by retail investors, with online brokers contributing the majority of the funds. Futu Securities extended margin financing amounting to HKD 207.099 billion, followed by Phillip Securities and Tiger Brokers with HKD 51.2 billion and HKD 32.778 billion, respectively. Unlike other AI companies focused on computing power, general large language models, or consumer applications, HAIZHI TECH GP has precisely targeted the high-barrier, high-demand niche of AI hallucination elimination. By integrating structured logic from knowledge graphs with large language models through its "graph-model fusion" technology, the company reduces hallucinatory outputs at the source. This approach allows it to serve high-end markets such as finance and government, where information accuracy is critical.
As a pioneer in this specialized field, HAIZHI TECH GP's graph database technology has previously broken world records, and the company holds a leading share in the industrial-grade AI agent market. Financially, the company has demonstrated a compound annual revenue growth rate of nearly 27% over the past three years. Its core Atlas AI agent business has shown explosive growth, validating its commercial deployment capabilities. Against a backdrop of marginally improved liquidity in the Hong Kong market, signs of returning foreign capital, and the high growth momentum of the AI sector, the oversubscription frenzy for HAIZHI TECH GP is expected to set a precedent for future IPOs in this specialized segment. As the first stock dedicated to AI hallucination elimination, its listing not only opens a high-growth niche for investors but is also set to drive the evolution of industrial AI towards greater precision and reliability.
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