Haiqing Zhiyuan Lists on the Main Board of the Hong Kong Stock Exchange, Accelerating the Implementation of Multispectral AI Technology

Chinese multispectral AI technology company Shenzhen Haiqing Zhiyuan Technology Co., Ltd. (hereinafter referred to as "Haiqing Zhiyuan" or "the Company", stock code: 1392.HK) officially listed on the Main Board of The Stock Exchange of Hong Kong Limited (hereinafter referred to as "the Stock Exchange") on June 22, marking a new stage in Haiqing Zhiyuan's global development.

On the first day of listing, Haiqing Zhiyuan's stock opened at HK$29 per share, surging over 300% from the issue price, with a total market capitalization nearing HK$25 billion, fully demonstrating the market's high expectations for the multispectral AI niche.

Founded in 2013 and headquartered in Shenzhen, Haiqing Zhiyuan is a technology company focused on multispectral AI technology. By integrating multi-band perception capabilities such as ultraviolet, infrared, and visible light with AI algorithms, the Company identifies early risk signals like electrical leakage, equipment aging, and abnormal temperature rises. This helps clients in high-value scenarios such as power systems, data centers, new energy, and energy storage enhance their intelligent perception and on-site judgment capabilities for abnormal signals in the physical world. In 2025, the Company was recognized by the National Ministry of Industry and Information Technology as a national-level "Little Giant" enterprise specializing in key areas. According to a Frost & Sullivan research report, the Company ranked first in market share among Chinese multispectral AI enterprises by revenue in 2025.

From Perception to Judgment, Building Full-Chain "Light-Sense-Image-Computation" Technical Capabilities

In terms of technical capabilities, Haiqing Zhiyuan has comprehensively built full-chain capabilities covering optical components, perception modules, edge computing, and algorithm models based on its "Light-Sense-Image-Computation" technical architecture. The Company adopts a "Edge-Cloud Collaboration" technical system: on the edge side, lightweight AI computing units support on-site real-time identification, inference, and analysis, with inference speeds as low as 50 milliseconds, maintaining low-latency operation even in offline, low-bandwidth environments; in the cloud, the Company's self-developed "Zhiyuan Origin" large model serves multi-scenario applications, accumulates risk samples, optimizes algorithm strategies, and continuously improves risk judgment capabilities in complex scenarios, especially in early fire feature identification, where model accuracy has exceeded 95%.

Relying on the above technical capabilities, Haiqing Zhiyuan has served over 2,500 clients and accumulated extensive on-site experience in high-value scenarios such as data centers, power systems, and new energy. The risk characteristics, alarm results, and handling feedback from these real-world scenarios provide strong support for the Company's further algorithm optimization and model iteration.

Significant Commercialization Achievements, Upgrading from "Product Sales" to "High-Value Services"

Haiqing Zhiyuan's commercialization achievements have been validated across multiple fields. From 2023 to 2025, the Company's operating revenue grew from RMB 117 million to RMB 668 million, with a compound annual growth rate of 138.9%. The Company achieved profitability starting in 2024, with adjusted net profit reaching RMB 55.245 million in 2025.

Notably, Haiqing Zhiyuan is gradually transforming from a single-product delivery enterprise into a solution and service provider centered around its multispectral AI large model. In 2025, revenue from the multispectral AI large model service segment reached RMB 355 million, accounting for 53.1% of total revenue. This business revolves around algorithm optimization, model iteration, and comprehensive judgment in complex scenarios, serving the needs for early risk identification and on-site judgment in high-value scenarios such as power systems, data centers, new energy, and energy storage. This also reflects the Company's business model extending from module and terminal sales to model-driven solutions and service capabilities.

As a national-level "Little Giant" enterprise specializing in key areas, Haiqing Zhiyuan continues to invest in R&D, with its R&D team accounting for over 40% of total employees, providing a solid foundation for sustained technological innovation. As of June 1, 2026, the Company has registered 101 invention patents.

Listing Proceeds to Support R&D Investment and Market Expansion

According to a Frost & Sullivan research report, the global multispectral perception market size was approximately RMB 85 billion in 2025, with North America and Europe accounting for 25% and 28% shares respectively; it is expected to reach RMB 305.4 billion by 2030.

According to the prospectus, Haiqing Zhiyuan plans to use the proceeds from this listing to enhance R&D capabilities and increase product development investment, expand production capacity, strengthen business development, advance overseas market layout, and supplement working capital, among other uses.

This listing on the Hong Kong Stock Exchange will support the Company's subsequent R&D investment, product iteration, and market expansion, and also help enhance the application awareness of multispectral AI technology in high-value scenarios such as power systems, data centers, new energy, and energy storage.

About Haiqing Zhiyuan

Haiqing Zhiyuan Technology Co., Ltd. (stock code: 1392.HK), founded in 2013 and headquartered in Shenzhen, is a leading Chinese multispectral AI technology company. By integrating multi-band perception capabilities such as ultraviolet, infrared, and visible light with AI algorithms, the Company helps clients in high-value scenarios such as power systems, data centers, new energy, and energy storage enhance their intelligent perception and on-site judgment capabilities for abnormal signals in the physical world. In 2025, the Company was recognized by the National Ministry of Industry and Information Technology as a national-level "Little Giant" enterprise specializing in key areas. According to a Frost & Sullivan research report, the Company ranked first in market share among Chinese multispectral AI enterprises by revenue in 2025.