Reuters: Moonshot executives in settlement talks with shareholder ahead of planned Hong Kong IPO

Moonshot executives are in settlement talks with a shareholder before the Chinese artificial intelligence company’s planned Hong Kong listing, according to Reuters, which cited people familiar with the matter. The dispute centers on claims raised by Recurrent.ai and some of its investors in a March 11, 2026 lawyer’s letter to Moonshot investors. The letter alleged that Moonshot CEO Yang Zhilin and CTO Zhang Yutao made false statements to Recurrent investors, profited at Recurrent’s expense, moved key model data servers, deleted other data, and set up Moonshot without board authorization. Reuters said it could not independently verify those allegations. People familiar with the matter said Recurrent received 9.5% of Moonshot’s original shares when the company was established and is now seeking compensation equal to 10.5% of the original stake. Based on Moonshot’s $30 billion valuation in its June fundraising, that amount could be worth more than $700 million. Reuters had reported in September that Moonshot had confidentially filed for a Hong Kong IPO. One person said the dispute is not expected to derail the listing, but if unresolved, it could raise governance, ownership, and disclosure issues.