Shares of Knowledge Atlas (02513) surged close to 9% in early trading. At the time of writing, the stock is up 5.82%, trading at HK$1,619 with a turnover of HK$2.605 billion.

The move follows news that the China Securities Regulatory Commission's website has updated the status of the company's A-share IPO tutoring to "completed."

Previously, on June 1, the company announced on the Hong Kong Stock Exchange its intention to apply for an initial public offering of A-shares and list on the Science and Technology Innovation Board.

According to the announcement, Knowledge Atlas plans to raise RMB 15 billion. Of this, RMB 12 billion is earmarked for the development of a general-purpose artificial intelligence foundation model, RMB 2 billion for a one-stop MaaS (Model-as-a-Service) platform for large models, and RMB 1 billion for supplementing working capital.

In a separate development, the company's Z.ai platform has recently launched a new programming tool called ZCode. This tool is directly integrated with its latest open-source large language model, GLM-5.2.

The GLM-5.2 model was officially released in June of this year. Many developers have reportedly chosen this model, noting that its performance is comparable to premium overseas models like ClaudeOpus, but at a significantly lower cost.