According to CoinMeta, Mianbi Intelligence has officially launched A-share guidance for IPO, with CITIC Securities serving as the guiding institution. The filing materials show that the company currently has no controlling shareholder, with Beijing Qingyu Qihang holding 16.45% of the shares. It is still in the listing guidance phase and has not yet entered the application stage. Mianbi Intelligence focuses on large-scale models for endpoints, and its core product is the minicpm series. The cumulative downloads of its open-source models have exceeded 38 million times, and they have been integrated into mass-produced vehicles by companies such as Changan, SAIC, and Geely. In the first quarter of this year, Mianbi Intelligence completed two rounds of financing, with a total amount of over 1 billion yuan. After completing a new round of financing in July, the company's total financing for the first half of the year exceeded 5 billion yuan, and its valuation surpassed 20 billion yuan, making it the unicorn with the highest public valuation in the field of endpoint intelligence.