Insiders: The Dark Side of the Moon is considering going public in Hong Kong and has begun discussions with companies like Goldman Sachs

By: rootdata|2026/03/26 16:42:00

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According to a report by Bloomberg, Kimi's parent company, Moon's Dark Side, is in the preliminary stages of considering an initial public offering in Hong Kong and has begun discussions with China International Capital Corporation and Goldman Sachs regarding the listing cooperation. The specific timing has not yet been determined, and the planning is still underway, with the possibility that it may not proceed. Both Moon's Dark Side and Goldman Sachs declined to comment, and China International Capital Corporation did not respond.

After completing over $700 million in financing earlier this year, Moon's Dark Side is negotiating a new round of financing, with a scale of up to $1 billion, which would bring its valuation to approximately $18 billion after this round of funding. Its C round valuation was about $4.3 billion at the end of last year, and the valuation has since risen rapidly. Founder Yang Zhilin stated in an internal letter at the end of last year that the company has 10 billion RMB in cash and is "not in a hurry to go public in the short term." There were also rumors of a "backdoor listing" last December, which the company denied.

Competitors in the same sector, Zhiyu and MiniMax (Xiyu Technology), have already gone public on the Hong Kong Stock Exchange, and taking advantage of the investor enthusiasm generated by peers going public, Moon's Dark Side has been accelerating its financing in the private equity market.

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