Core Viewpoint - Wanjing Technology (万兴科技) has submitted an application for listing on the Hong Kong Stock Exchange, with CICC acting as the sole sponsor [1]. Company Overview - Wanjing Technology is a global provider of AIGC digital creative software, focusing on video creative products and aims to become a century-old influential software company [4]. - The company has been listed on the Shenzhen Stock Exchange since January 18, 2018, and has launched several AIGC digital creative software products, including flagship products like Filmora and new products such as Tianmu AI and ToMoviee AI [4]. Market Potential - The AIGC video creative software market is rapidly growing, with the market size expected to increase from approximately $800 million in 2020 to $10.5 billion by 2024, representing a compound annual growth rate (CAGR) of 90.3%. The market is projected to reach around $24.8 billion by 2029 [4]. Competitive Position - As of 2024, Wanjing Technology ranks first among independent third-party providers in China within the global AIGC video creative software market, holding a market share of 1.3% [4]. Financial Performance - Revenue for the six months ending June 30, 2024, is projected to increase by 7.7% to RMB 759.453 million, driven by sales growth in AIGC digital creative software and utility products [5].

Core Viewpoint - Wanjing Technology Group Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, with CICC as the sole sponsor [1] Company Overview - Wanjing Technology is a global provider of AIGC digital creative software, focusing on video creative products, aiming to become a century-old influential software company [4] - The company has been listed on the Shenzhen Stock Exchange since January 18, 2018, and has launched several AIGC digital creative software products, including flagship products like Filmora and new products such as Tianmu AI and ToMoviee AI [4] Market Potential - The AIGC video creative software market is rapidly growing, with the market size increasing from approximately $800 million in 2020 to an estimated $10.5 billion in 2024, representing a compound annual growth rate (CAGR) of 90.3%. The market is projected to reach about $24.8 billion by 2029 [4] - Wanjing Technology ranks first among independent third-party providers in China within the global AIGC video creative software market, holding a market share of 1.3% as of 2024 [4] Financial Performance - Revenue for the six months ending June 30, 2024, is projected to increase by 7.7% from RMB 705.2 million to RMB 759.5 million for the six months ending June 30, 2025. This growth is primarily driven by increased sales of AIGC digital creative software and utility products [5]

万兴科技集团股份有限公司向港交所提交上市申请书，独家保荐人为中金公司。 ...

Core Insights - The event "Together Reshape the Imaging Season" focused on the theme of "Reconstructing the Future of Imaging Ecology," discussing the integration of AI technology in the film industry and its implications for creative processes [1][2]. Group 1: AI and Creative Processes - Traditional and AI-driven creative processes are expected to coexist in the near future, with AI tools democratizing creativity and enabling broader participation in content creation [2][4]. - AI is seen as a tool that enhances efficiency and reduces costs in the film industry, particularly in short film production, while also creating new job opportunities [2][6]. Group 2: Industry Transformation - The film industry is undergoing a structural transformation in job roles and skill requirements due to AI advancements, leading to the emergence of new positions such as Prompt Art Director and AI Ethics Auditor [6]. - The European Union has initiated certification programs for editing and color grading professionals, resulting in an average salary increase of 18% for those who pass the assessments [6]. Group 3: Company Developments - Wanjing Technology has accelerated its AI initiatives by attracting top global talent and creating benchmark cases in the film and cultural sectors, demonstrating the industrial value of AI in content creation [6][7]. - The company launched the Wanjing Tianmu Multimedia Model 2.0 and associated applications, providing users with cost-effective and accessible creative tools, with AI video generation costing as low as 0.25 yuan per video in the first month [7].

Group 1 - The core idea of the news is that Wondershare Filmora, an AI video creation software by Wanxing Technology, is enhancing its presence in the Japanese market through localized events and partnerships with local creators [2][4] - Wanxing Technology emphasizes a user-centered approach, aiming to empower local creators in Japan by breaking down technological barriers and promoting the use of AI in content creation [2][3] - The company has established a strong influence in Japan over the past decade, with over 49 million users of Wondershare Filmora, making it one of the top three video editing software in the market [3] Group 2 - Wanxing Technology has a broad product coverage in the digital creative software sector and is recognized as the "Chinese version of Adobe," with a global presence in over 200 countries [3] - The company has built a robust network in Japan, collaborating with over 5,600 partners and more than 30 agents, and has maintained long-term relationships with major institutions like Mitsubishi [3][4] - Future plans include continued investment in localized resources and activities in Japan to better meet the needs of local users and creators [4]

据悉，在日本市场，Wondershare Filmora累计用户数突破4900万。作为中国数字创意软件出海领军企 业，万兴科技成立以来持续深化全球化布局，业务覆盖全球多个国家和地区。2011年，万兴科技在东京 设立运营中心，经过十余年深耕，已在日本市场建立起深厚影响力。 转自：中国证券报·中证网 中证报中证网讯（王珞）近日，万兴科技联合日本知名零售企业友都八喜（Yodobashi），在日本东京 秋叶原举办旗下视频创意软件Wondershare Filmora AI生成体验暨用户线下交流活动。 万兴科技相关负责人表示，公司积极践行以用户为中心的理念，持续以AI创新用户内容创作链路，拓 宽场景边界，推动用户价值增长。"日本是万兴科技海外重点市场之一，我们非常重视与用户面对面的 机会，希望以AI为媒，促进日本本土用户及创作者对中国AIGC创意软件的了解和使用。目前，万兴科 技旗下ToMoviee AI AIGC创作平台也已在日本市场上线。我们期待通过更多活动，让更多日本创作者 爱上AI，爱上AI创作。" 上述负责人表示。 此次活动是万兴科技深化全球化战略及创作者经济市场的又一重要举措。万兴科技表示，未来将在日本 市 ...

Core Insights - AIGC software company Wondershare Filmora, under Wanjing Technology, is enhancing its "creative equity" and local market localization efforts in Japan by collaborating with Yodobashi to host an AI-generated video experience event in Akihabara, Tokyo [1][3] Company Initiatives - The company emphasizes a user-centric approach, leveraging AI to innovate user content creation processes and expand application scenarios, aiming to increase user value [3] - Wanjing Technology has launched its ToMoviee AI AIGC creation platform in the Japanese market, highlighting its commitment to engaging with local users [3][11] Event Highlights - The event featured local video creators and influencers, including Takomun, who shared experiences and demonstrated Wondershare Filmora's AI capabilities, showcasing improvements in video creation efficiency and artistic expression [5][7] - Wondershare Filmora has gained significant traction in Japan, with over 49 million users, ranking among the top three video editing software in the market [5][10] Product Features - Wondershare Filmora allows users to create videos quickly and intelligently by inputting three reference images and a simple prompt, making it accessible even for beginners [7][9] Market Position - Wanjing Technology is recognized as a leading player in the digital creative software sector in China, with a broad product range and significant global presence, often referred to as the "Chinese version of Adobe" [9][10] - The company has established a strong influence in Japan since setting up its operational center in Tokyo in 2011, with over 5,600 local partners and long-term collaborations with major firms like Mitsubishi [10] Industry Trends - The creator economy is projected to grow significantly, with estimates indicating a market size of $143 billion in 2024 and $1,487 billion by 2034, highlighting the increasing demand for user-generated content and specialized tools [10][11]

Core Viewpoint - Wankey Technology is enhancing its "creative equity" and local market localization efforts in Japan by collaborating with Yodobashi to promote its AI video creation software, Wondershare Filmora, aiming to empower local creators and break down technological barriers [1][2]. Group 1: Company Initiatives - Wankey Technology emphasizes a user-centric approach, focusing on AI innovations to expand content creation scenarios and enhance user value [2]. - The company has launched its ToMoviee AI AIGC creation platform in the Japanese market, highlighting its commitment to engaging with local users [2][10]. - The recent event in Akihabara featured local video creators and influencers, showcasing the capabilities of Wondershare Filmora, particularly its AI video generation features [3][4]. Group 2: Product Features and Market Position - Wondershare Filmora has gained significant traction in Japan, with over 49 million users, ranking among the top three video editing software in the market [3][7]. - The software allows users to create videos quickly and easily, requiring only three reference images and a simple prompt to generate short videos, making it accessible even for beginners [5][6]. - The product is well-received by young creators, vloggers, and small businesses due to its user-friendly interface and powerful AI functionalities [3][7]. Group 3: Market Context and Future Plans - The global creator economy is projected to reach $143 billion in 2024 and $1.487 trillion by 2034, indicating a growing demand for content creation tools [8]. - Wankey Technology plans to continue investing in localized resources in Japan and engage in a series of activities to better understand and meet local user needs [10].

Investment Rating - The report maintains a "Recommendation" rating for the company, indicating an expectation to outperform the benchmark index by 10%-20% over the next six months [2][18]. Core Insights - The company reported a total operating revenue of 760 million yuan for the first half of 2025, representing a year-on-year growth of 7.77%. However, the total profit reached -51 million yuan, a decrease of 255.13% year-on-year, with a net profit attributable to the parent company of -53 million yuan, down 315.63% year-on-year [2][4]. - The implementation of AI technology has shown significant results, with the company's AI server call volume doubling to over 500 million times compared to the previous version, and the performance of the AI model improving by approximately 90% [8]. - The company has established a solid global presence, with overseas revenue growing by 11.06% to 712 million yuan, accounting for over 93% of total revenue [8]. - The company is focusing on deepening technical cooperation and expanding its ecosystem, including partnerships with major tech firms and optimizing its subscription service model to enhance user retention [8]. Financial Summary - The company is projected to achieve total operating revenues of 1.666 billion yuan, 1.963 billion yuan, and 2.338 billion yuan for the years 2025, 2026, and 2027, respectively, with corresponding net profits of 8 million yuan, 88 million yuan, and 108 million yuan [4][9]. - The earnings per share (EPS) are expected to be 0.04 yuan, 0.45 yuan, and 0.56 yuan for the years 2025, 2026, and 2027, respectively [4][9]. - The company's total market value is reported at 13.584 billion yuan, with a circulating market value of 12.031 billion yuan [5].

在全球化与数字化交汇的时代浪潮中，一批中国企业正以技术为桨、以用户为舵，驶向更广阔蓝海。 近日，21世纪经济报道专访万兴科技副总裁张铮，深入了解公司出海战略与全球化布局。 从0到1破局 张铮：2003年万兴科技成立，即锚定海外市场，这一战略源于对全球软件格局的洞察。彼时国内软件市 场处于付费习惯与版权保护的双重培育期，而海外市场已具备三大优势：成熟的知识产权保护体系、完 善的在线支付基础设施，以及国际巨头对新兴线上渠道覆盖不足形成的差异化竞争空间。 基于此，万兴科技转向海外，依托互联网流量红利构建"轻资产、高效率"模式。首款产品Photo2VCD上 线海外平台后，凭借技术优势首年即实现百万元级营收，验证了中国软件通过互联网服务全球的可行 性。 其中，AIGC软件A股上市公司万兴科技（300624.SZ），早期曾凭借一款Photo2VCD在海外市场单日收 获订单、首年实现百万元营收，如今以AI大模型为底座构建覆盖全球的多产品矩阵。 在其出海战略的背后，是一条清晰可辨的演进路径：从产品出口阶段的流量开拓，到本地化深耕阶段的 品牌信任建立，再到AI与技术生态阶段的全球协同创新。 张铮：公司全球化发展历经三大战略阶段 ...