Chinese artificial intelligence provider Megvii Technology Ltd, backed by Alibaba, has filed for an IPO of at least $500 million in Hong Kong, two people said, coming at a time of political unrest in the city and potential first recession in a decade. Megvii, widely known for its facial recognition platform Face++, may raise as much as $1 billion in the planned initial public offering, said one of the people, who expected the deal to take place in the fourth quarter of the year. The Beijing-based firm is moving ahead with its planned float while some other companies have postponed or slowed down their listing plans due to the lack of financial and political stability in Hong Kong.

source https://finance.yahoo.com/news/chinese-ai-start-megvii-files-030829855.html?.tsrc=rss