XtalPi Debuts on HKEX Main Board as First 18C Listing, Pioneering AI + Robotics Innovation

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XtalPi (2228.HK) marked a historic milestone today as it became the first company to list under Chapter 18C rules on the Hong Kong Stock Exchange (HKEX) Main Board. The IPO, priced at HK5.28 pershare,raised approximately HK896 million in net proceeds. The listing ceremony was attended by prominent figures including Mr. Paul Chan, Financial Secretary of the Hong Kong SAR Government, and Ms. Bonnie Chan, CEO of HKEX, alongside XtalPi’s co-founders Dr. Wen Shuhao, Dr. Ma Jian, and Dr. LaiLipeng.

A Landmark Moment for Innovation
The event celebrated XtalPi’s journey from a startup to a publicly listed company, symbolizing the dawn of a new era in AI and robotics-driven R&D infrastructure. Over 200 guests, including early investors, long-time employees, academic and industry partners, and representatives from global financial institutions, gathered to witness this pivotal moment.

Strong Investor Confidence
XtalPi’s IPO garnered robust support from five cornerstone investors and nearly 80 global institutional investors, including prominent long-term funds, healthcare-focused funds, and hedge funds from Europe, the Middle East, and beyond. The international offering was oversubscribed by 2.13 times, making XtalPi the only company in the past two years to achieve over 100x retail subscription for a listing above US$50 million.

Leadership Vision
“Our mission is to build a company that balances social and commercial value, creating next-generation R&D infrastructure powered by AI and robotics. As a publicly listed company, we remain committed to empowering global innovation, ensuring that AI—both as technology and as ‘love’—flows into every new drug and material we help develop.” said Dr. Shuhao Wen, Co-founder and Chairman of XtalPi. Dr. Wen also encouraged other tech innovators to leverage HKEX’s Chapter 18C framework, fostering a vibrant ecosystem for AI-driven enterprises in Hong Kong.

A Legacy of Innovation
Since its founding in 2015, XtalPi has been at the forefront of integrating quantum physics, AI, and robotics to revolutionize drug and materials discovery. With over 300 enterprise and research clients, the company has expanded its impact across high-value industries, including agriculture, energy, and cosmetics.

Looking Ahead
Post-listing, XtalPi will continue to drive innovation, building intelligent and automated infrastructure for future industries. The company plans to accelerate global expansion, delivering breakthrough advancements in pharmaceuticals and materials science while addressing pressing societal challenges.

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