Report: Lunar Far Side Financing Receives Support from State Capital and Central Enterprises, Plans to Revaluate Red Chip Structure for IPO

The AI assistant Kimi developer, Moonshot AI, is in the final stages of a $2 billion financing round. According to exclusive reports from the "Science and Technology Innovation Board Daily," state-owned institutions such as Guozhitou and Beijing Artificial Intelligence Fund, as well as state-owned enterprises like China Mobile, have entered its list of new shareholders.

Previously, Moonshot AI's investors were mainly large Internet companies and industrial funds; with the entry of state-owned capital and state-owned enterprises, its capital structure is being optimized to better align with regulatory requirements and facilitate industrial collaboration.

Bloomberg disclosed on the same day that Moonshot AI has notified shareholders this week that it will initiate the dismantling of the Red-chip (VIE) structure in preparation for a Hong Kong IPO to adapt to stricter regulations on Chinese companies going public overseas.

The Red-chip structure used to be a common method for foreign entities to hold domestic assets and operations, but it is currently facing stricter scrutiny. Bloomberg points out that Chinese regulatory authorities are restricting some Red-chip companies from going public in Hong Kong and encouraging the use of domestic registration frameworks for restructuring to reduce the risks of structural opacity and capital outflows.

It is worth noting that the structural adjustment does not mean the exit of US dollar funds. Insiders say that Moonshot AI plans to allow foreign shareholders to retain their rights through the establishment of joint ventures and other means, and such adjustments will not affect its access to US dollar-denominated funds for the time being.

On the product front, Kimi is continuously strengthening its developer ecosystem. Composer 2.5, built on the Kimi K2.5 model, was officially integrated into the globally renowned programming tool Cursor today.