[Dark Side of the Moon, Kimi's Parent Company, Launches Hong Kong IPO with a $50 Billion Valuation] According to LatePost, Kimi's parent company, Dark Side of the Moon, has confidentially submitted an A1 application to the Hong Kong Stock Exchange, officially initiating the Hong Kong IPO process. At the same time, the company is advancing a new round of financing at a pre-IPO valuation of approximately $50 billion, which is expected to be the final round before the IPO. The report, citing public and market information, states that Kimi has accelerated its model iterations this year, successively releasing K2.5, K2.6, and K3, with updates occurring at a pace of roughly one version every three months. On the revenue side, Kimi's ARR (Annual Recurring Revenue) surpassed $100 million in early March this year and grew to nearly $300 million by mid-June. Following the release of K3, enterprise ARR saw exponential growth. With the rise in usage volume and demand for computing power, Dark Side of the Moon has raised its valuation from approximately $4.3 billion at the end of 2025 to the current $50 billion through multiple rounds of financing.