Baidu Founder Robin Li's AI Biotech Company Reportedly Files IPO Application Secretly

What is the deeper significance behind AI · Baitu Shengke’s secret IPO submission?

The “money printer” of the automotive industry, Porsche, can no longer hold on

Zhangfei Optics, a ten-bagger stock, has already realized a 1.4 billion yuan profit for some institutions

Source | Caixin

On March 16, according to Bloomberg, citing informed sources, Baitu Shengke (Beijing) Intelligent Technology Co., Ltd. (referred to as “Baitu Shengke”) has secretly submitted an application for a Hong Kong IPO, expecting to raise several hundred million dollars this year.

Sources say this AI and life sciences startup, supported by Baidu Group-SW (09888.HK), is working with China International Capital Corporation, Morgan Stanley, and UBS Group to prepare for the listing.

However, the sources also noted that discussions are still ongoing, and details such as fundraising scale and timing may change.

Baitu Shengke was co-founded in 2020 by Baidu co-founder and CEO Robin Li and former Baidu Venture Capital CEO Liu Wei.

The company has developed an AI system capable of modeling and assisting in predicting biological mechanisms, which could improve drug development efficiency and success rates.

Liu Wei, the current CEO of Baitu Shengke, stated last May that the company plans to seek a Hong Kong listing within the next year and a half.

As the Hong Kong healthcare sector rebounds after years of stagnation, companies applying AI to drug discovery are increasingly favored by investors.

One notable company last year was Yingxian Intelligent (03696.HK), which raised nearly HKD 2.3 billion in its December IPO.

Since going public, Yingxian Intelligent’s stock price has surged over 130%.

Sources also indicate that other AI-driven drug discovery companies planning to list in Hong Kong include Earendil Labs, a subsidiary of Huashen Zhiyao overseas.