[Domestic AI Model Company Jiewei Xingchen to Complete Nearly $2.5 Billion Financing, Accelerating Push for Hong Kong IPO] According to a report by Jinse Finance on May 8, citing the Sci-Tech Innovation Board Daily, sources revealed that the domestic AI model company Jiewei Xingchen is set to complete nearly $2.5 billion in financing and has dismantled its red-chip structure. Reportedly, the latest round of financing saw significant participation from industry chain capital, including HuaQin, Longcheer, OmniVision, and ZTE, covering multiple segments from complete device manufacturing to upstream core components. The entry of industrial capital reflects the certainty of the trend of model capabilities migrating to end-user applications. Business registration information shows that the company completed a corporate restructuring in April, transitioning from a limited liability company to a joint-stock company. Insiders stated that its red-chip structure has also been dismantled, a move typically regarded as a critical preparatory step for a Hong Kong IPO. Additionally, the "Hong Kong version of Temasek," Hong Kong Investment Corporation (HKIC), has appeared on the shareholder list, further endorsing its plans for a Hong Kong listing.