Congratulations to XtalPi on its successful listing on the Hong Kong Stock Exchange! | 5Y News
"AI + Robotics" builds the first 18C-listed stock, constructing new R&D infrastructure for future industries.
On June 13, 2024, XtalPi (2228.HK) officially listed on the main board of the Hong Kong Stock Exchange, with an IPO price of HK$5.28 per share and net proceeds of approximately HK$1.141 billion. Paul Chan Mo-po, Financial Secretary of the Hong Kong Special Administrative Region; Sun Dong, Secretary for Innovation, Technology and Industry of the HKSAR Government, and his deputy Cheung Man-lei; Bonnie Chan Yiting, Group Chief Executive of HKEX; and Victor Dawes, Chairman of HKEX, attended the listing ceremony. Together with XtalPi co-founders Shuhao Wen, Jian Ma, and Lipeng Lai, they witnessed the historic moment of the first company to list under HKEX's Chapter 18C regime.
At the listing ceremony, XtalPi's three co-founders — Chairman Shuhao Wen, CEO Jian Ma, and Chief Innovation Officer Lipeng Lai — together with CFO Wenkang Tan, struck the opening gong to celebrate this important milestone since the company's founding and usher in a new era of AI and robotics-powered R&D infrastructure. Joining them in celebration were numerous longstanding and new investors, representatives of the earliest employees, R&D scientists from Shenzhen, Shanghai, Beijing, and Boston, academic and industry partners, as well as sponsors and intermediaries involved in the IPO — over 200 guests in total.
5Y Capital participated in multiple funding rounds starting from 2019. Qin Liu, Founding Partner of 5Y Capital, said: " In recent years, with the rapid development of artificial intelligence and declining computing costs, the pharmaceutical R&D industry has reached an inflection point where technology drives qualitative transformation. XtalPi has pioneered the integration of quantum physics, AI, and biomedicine, redefining the paradigm of new drug discovery. The company has demonstrated extraordinary conviction in this frontier direction, consistently delivering milestone achievements, and has grown into a representative and leading enterprise in AI-driven drug R&D.
Throughout XtalPi's development, we have seen the sense of mission, growth trajectory, and tremendous potential of an innovative enterprise. We believe the IPO marks a new starting point for XtalPi. The company will continue to lead industry transformation with its cutting-edge technology and interdisciplinary innovation philosophy, advancing human life sciences to a new era. Our best wishes to XtalPi!"
Xutian Jing, Managing Director at 5Y Capital, said: "Today, as we enjoy the tremendous convenience brought by technology in the information world, our needs in the physical world remain unfulfilled: how to develop more effective drugs, how to create better-performing chemical products or energy materials — these are goals that countless companies and engineers continue to pursue.
With the rapid advancement of information technology, especially artificial intelligence, XtalPi has combined physics-based computation and automated robotics to build a bridge between the information world and the physical world. Through feedback learning, it continuously optimizes its closed-loop system, enabling highly efficient material discovery and optimization. We are already pleased to see clear technical validation and initial commercial results in biomedicine, materials science, and other fields. We believe that with the founding team's grand vision and determination, combined with the richer financing channels brought by the 18C IPO, XtalPi will ultimately prove its substantial value to industry and society."
In his address, Shuhao Wen emphasized that XtalPi's goal is to become an outstanding enterprise where social value and commercial value reinforce each other, building the R&D infrastructure for future industries through AI and robotics technology. After going public, XtalPi will continue its business philosophy of "altruism is self-interest," broadly empowering global customers' R&D innovation, committed to letting AI flow into every new drug, and letting AI create more new materials that benefit humanity. At the same time, Wen encouraged more technology innovation companies to list in Hong Kong under the Chapter 18C rules, jointly fostering trillion-dollar enterprises in the AI era and bringing new vitality to the Hong Kong market.
As an R&D platform company driven by quantum physics, AI, and robotics, XtalPi has, since its founding in 2015, deeply cultivated the integration and interoperability of algorithms and automation, transforming the world at the micro level. Through intelligent, automated next-generation technology platforms and solutions, it drives the upgrading and high-quality development of the pharmaceutical and materials science industries. The company has become a pioneer in the AI for Science field, an important partner for academic and industrial innovation R&D, earning the trust and collaboration of over 300 enterprise and research clients, and successfully expanding its business to high-value industrial scenarios including agricultural technology, new chemicals, energy, and cosmetics.
Going forward, XtalPi will continue to dedicate itself to R&D innovation, building intelligent and automated infrastructure for future industries, actively promoting overseas business expansion, using AI and robotics to catalyze more breakthroughs in new drugs and new materials, addressing urgent societal challenges. Through relentless effort, it will contribute to improving human health and living environments while creating greater value returns for investors.
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