HAIZHI TECH GP (02706) has generated overwhelming investor demand just two days after launching its initial public offering, far exceeding the market response seen for other recent AI-focused new listings. According to the latest figures, the public offering portion of the IPO has been oversubscribed by 606.15 times, with total margin financing applications reaching HK$47.576 billion. This amount surpasses the HK$78.49 million public fundraising target by more than 600 times. Market expectations suggest the final oversubscription multiple could exceed 1,067.80 times. Futu Securities emerged as the largest source of application funds, accounting for HK$34.183 billion in subscriptions.

Compared to other high-profile AI IPOs, Zhipu AI was oversubscribed by approximately 118 times on the second day of its offering, while MiniMax saw around 280 times oversubscription at the same stage. HAIZHI TECH GP's achievement of over 600 times oversubscription within two days sets a new record for the speed of subscription uptake among companies listed under the 18C rules this year. Market analysts attribute this intense interest to the company's position as a core service provider in China's government and enterprise AI sector. Its business scarcity and strong growth prospects are driving a rapid influx of capital. It is anticipated that the total frozen capital could approach the HK$100 billion mark, with the final oversubscription multiple potentially challenging MiniMax's historical record of 1,837 times.