Kling AI plans Hong Kong IPO as early as 2027, raising at least $1B
Bloomberg reports that Kling AI, Kuaishou's video-generation business, plans a Hong Kong IPO as early as 2027, raising at least $1 billion, with CICC, Goldman Sachs and UBS underwriting. The report says Kling began independent fundraising in July with backing from Tencent, Alibaba Cloud, Baidu and others, and that based on late-August capital-increase data it is valued at about 122.8 billion yuan — above Kuaishou's market value at the time; the same account cites cumulative losses of more than 2 billion yuan from full-year 2025 through this year's first quarter. The article also says AI micro-dramas accounted for roughly 122,000 of about 128,000 short dramas released in Q1, or 95.3%, while hit and break-even rates remain very low as the sector consolidates.
If it happens, this would be a rare standalone Hong Kong listing for a video-generation model business, testing public-market appetite for a capital-intensive, still-lossmaking segment.