Hong Kong (CNN Business) One of China's largest artificial intelligence companies has filed for an initial public offering in Hong Kong.

Megvii Technology was most recently valued at approximately $4 billion in its last funding round in May.

If listed, Megvii would become the first Chinese AI stock trading on the Hong Kong stock exchange.

Ant Financial — the Alibaba affiliate controlled by the company's billionaire founder Jack Ma — owns around 15% of Megvii through a subsidiary, according to a draft prospectus Megvii published late on Sunday.

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