Generative AI helps to go out and ask for an IPO in Hong Kong, can Li Zhifei become China's OpenAI?
Going out to ask, is an AI company with generative AI and voice interaction technology as its core business. It submitted a prospectus to the Hong Kong Stock Exchange on May 30, 2023, and plans to list on the Hong Kong Main Board.
This is the first time the company has submitted a listing application, and the joint sponsors are CICC and CMB International.
The founder, CEO and chairman of Momenwenwen is Li Zhifei. He was the developer of Google Translate and the main developer of Joshua, the world's leading open source machine translation software.
He has repeatedly stated publicly that he will start a business in the field of large-scale models, aiming to be China's OpenAI.
OpenAI is a non-profit artificial intelligence research organization that aims to create and promote friendly artificial intelligence for the benefit of mankind.
One of OpenAI's most well-known projects is the GPT series, a deep learning-based natural language generation model that can generate coherent and meaningful text from a given text.
GPT-3 is currently the most advanced natural language generation model, it has 175 billion parameters and can support multiple languages and tasks.
Going out to ask is also actively exploring the fields of generative AI and large models.
According to the prospectus, Mobwang developed a general-purpose large-scale model UCLAI in 2020, and then upgraded to a sequence monkey in 2023.
Both models are natural language generation models based on the Transformer architecture, which can support multiple languages and scenarios.
Mobwang uses these models to provide various AI empowerment solutions for content creators, enterprises and consumers, such as AI dubbing assistant, AI writing assistant, AI digital human, etc.
Going out to ask the revenue mainly comes from AI software solutions and AIoT solutions.
Among them, AI software solutions include two types of products for content creators and for enterprises.
Products for content creators are mainly AIGC (Artificial Intelligence Generated Content) solutions, which use generative AI technology to assist users in generating content such as short videos, social media posts, and marketing materials for different application scenarios.
Products for enterprises are mainly solutions based on voice interaction technology, providing customized services for industries such as automobile, finance, Internet of Things, medical care and retail.
The AIoT solution refers to the various smart devices launched by Menwenwen, such as smart watches and smart treadmills.
According to the prospectus, the revenue from 2020 to 2022 will be about 265 million yuan, 398 million yuan, and 500 million yuan respectively. In 2022, the revenue from AI software solutions will be about 303 million yuan, accounting for 60.6% of the total revenue.
The corresponding net profits were 90 million, -182 million and -685 million yuan, respectively. Mobwenwen said that its losses were mainly due to changes in the book value of redeemable preferred shares and common shares.
Going out to ask is facing fierce competition and uncertain risks. In the field of generative AI and large models, in addition to OpenAI, technology giants such as Google, Microsoft, and Baidu are continuously investing resources and research and development.
In the field of voice interaction technology, there are also strong opponents such as Xunfei and HKUST Xunfei. In addition, in terms of data security, intellectual property rights, laws and regulations, etc., Mimenwenwen also needs to deal with various challenges and changes.
Li Zhifei once said, "I want to be a Chinese version of OpenAI."
He has a rich background in artificial intelligence and an international perspective, as well as the spirit of daring to innovate and make breakthroughs.
He led Mowenwen through a ten-year entrepreneurial journey, and also experienced ups and downs and adjustments.
Now, he will lead Mobask to usher in a new milestone - IPO in Hong Kong.
Can he realize his vision and become China's OpenAI?
let us wait and see.