Core Viewpoint - CloudWalk Technology is set to launch its IPO on the Hong Kong Stock Exchange, aiming to raise up to HKD 320 million, with SenseTime as a cornerstone investor, indicating a strategic partnership in the multimodal field [1][9]. Fundraising and Financials - The company plans to issue 1.561 million H-shares, with 90% allocated for international sales and 10% for Hong Kong sales, at a price range of HKD 165 to HKD 205 per share, potentially raising up to HKD 320 million [6][7]. - The fundraising amount has been significantly reduced by 65% compared to its previous plan for the Sci-Tech Innovation Board, reflecting a more conservative valuation strategy [7]. - Financial data shows that CloudWalk's revenue for 2022, 2023, and 2024 is projected to be HKD 600 million, HKD 727 million, and HKD 939 million respectively, with a compound annual growth rate of 23% [5][6]. Investment and Partnerships - SenseTime, along with other cornerstone investors, has committed to significant investments, with SenseTime's subsidiary subscribing for HKD 43.7 million worth of shares [9]. - The partnership with SenseTime will focus on collaborative innovation in voice and visual multimodal interactions, enhancing the user experience in various industries [9][10]. - The company has a strong shareholder base, including notable investors such as JD.com, 360, and Qualcomm, indicating robust backing for its business model [8]. Use of Proceeds - Approximately 45.6% of the raised funds will be allocated to enhancing R&D capabilities, while 47% will focus on expanding commercial opportunities, reflecting a balanced approach to growth [7][8]. - The company aims to improve existing solutions and penetrate new vertical industries, highlighting its commitment to commercial viability [7].

Group 1 - Cloud Wisdom Technology Co., Ltd. (referred to as "Cloud Wisdom") is planning to issue 1.561 million H-shares on the Hong Kong Stock Exchange from June 20 to June 25, 2025, with an expected listing date of June 30, 2025 [1] - The offering price is set between HKD 165.0 and HKD 205.0 per share, aiming to raise approximately HKD 258 million to HKD 320 million, with a median price of HKD 185.0 per share leading to an estimated net fundraising of HKD 177 million [3][4] - The public offering represents about 2.2% of the total share capital post-listing, categorizing it as a "mini IPO" compared to typical A-share IPOs, which usually account for 25% of total share capital [3][4] Group 2 - Cloud Wisdom has secured subscriptions from three cornerstone investors, totaling approximately HKD 95.5 million in shares, including investments from companies like SenseTime and Runjian International [5] - Founded in June 2012, Cloud Wisdom focuses on AI solutions for daily life and medical applications, with major shareholders including Yun Si Shang Yi and the China Internet Investment Fund [5][7] - The company's revenue for 2022, 2023, and 2024 is projected to be approximately RMB 601 million, RMB 727 million, and RMB 939 million, respectively, with net losses of RMB 375 million, RMB 376 million, and RMB 454 million for the same years [7][8] Group 3 - Research and development (R&D) expenses are a significant factor in Cloud Wisdom's losses, with R&D spending of RMB 287 million, RMB 286 million, and RMB 370 million for 2022, 2023, and 2024, respectively, representing about 47.8%, 39.4%, and 39.4% of total revenue [9][10] - A substantial portion of R&D costs is attributed to third-party service fees, which accounted for over 50% of total R&D expenses, indicating a strategy to outsource non-core development tasks [10][11]

全球發售 聯席保薦人、保薦人兼整體協調人、整體協調人、聯席全球協調人、聯席賬簿管理人及聯席牽頭經辦人 整體協調人、聯席全球協調人、聯席賬簿管理人及聯席牽頭經辦人 聯席賬簿管理人及聯席牽頭經辦人 雲知聲智能科技股份有限公司 Unisound AI Technology Co., Ltd. 雲知聲智能科技股份有限公司 （於中華人民共和國註冊成立的股份有限公司） 股份代號 : 9 6 7 8 Unisound AI Technology Co., Ltd. 重要提示 閣下如對本招股章程的任何內容有任何疑問，應諮詢獨立專業意見。 UNISOUND AI TECHNOLOGY CO., LTD. 雲知聲智能科技股份有限公司 （於中華人民共和國註冊成立的股份有限公司） 全球發售 視乎超額配股權行使與否而定） 聯席保薦人、保薦人兼整體協調人、整體協調人、 聯席全球協調人、聯席賬簿管理人及聯席牽頭經辦人 整體協調人、聯席全球協調人、聯席賬簿管理人及聯席牽頭經辦人 聯席賬簿管理人及聯席牽頭經辦人 香港交易及結算所有限公司、香港聯合交易所有限公司及香港中央結算有限公司對本招股章程的內容概不負責，對其準確性或完整性 亦不發表任何聲 ...

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