炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 继续冲刺"全球空间智能第一股"。 据IPO早知道消息，中国证监会国际合作司于2月14日披露了《关于Manycore Tech Inc．（群核科技）境 外发行上市备案通知书》。 这意味着，群核科技已获得港交所聆讯的前置条件，继续向"全球空间智能第一股"发起冲刺，亦有望成 为第一家完成IPO里程碑的"杭州六小龙"。 成立于2011年的群核科技旗下拥有全球最大的空间设计平台'酷家乐'及其海外版'Coohom'、以及面向室 内环境AI开发的下一代空间智能解决方案群核空间智能平台'SpatialVerse'，产品既适用于现实空间，也 适用于具身人工智能训练和电子商务产品展示等虚拟环境。此外，2025年，群核科技推出了Aholo空间 智能开放平台，整合过去十余年在空间重建、空间生成、空间编辑与空间理解方面沉淀的核心能力，以 底层模型和工具的形式逐步对外开放，赋能更广泛的行业应用与创新生态。 2025年，群核科技升级了"空间智能"飞轮战略——群核科技现已聚焦空间智能，更加明确了"空间编辑 工具-空间数据-空间大模型"三大核心布局，彼此相互促进，构建了 ...

财经频道更多独家策划、专家专栏，免费查阅>> 证监会发布《关于Manycore Tech Inc.（群核科技）境外发行上市备案通知书》。其中提到，群核科技 拟发行不超过312,432,000股境外上市普通股并在香港联合交易所上市。 责任编辑：钟离 ...

【大河财立方消息】2月14日，证监会发布关于Manycore Tech Inc.（群核科技）境外发行上市备案通知 书，群核科技拟发行不超过3.12亿股境外上市普通股并在香港联合交易所上市。 群核科技为"杭州六小龙"之一，2025年2月，首次向港交所递交上市申请材料。同年8月更新招股书，冲 刺"全球空间智能第一股"，摩根大通和建银国际为联席保荐人。 群核科技从酷家乐等空间编辑工具起步，已经成长为全球最大的空间设计平台。过程中，公司沉淀了海 量物理正确的空间数据，截至2025年6月30日，群核科技拥有包含超过4.41亿个3D模型及超过5亿个结构 化3D空间场景。数据推动大模型算法不断迭代，算法升级则进一步反哺自身工具，最终广泛应用于3D 空间设计、电商3D AI设计、工业数字孪生、智能体训练等场景。 责编:史健 | 审核:李震 | 监审:古筝 招股书显示，2025年上半年，群核科技收入达3.99亿元，经调整净利润达1783万元，实现扭亏为盈。 ...

Core Insights - The article discusses the increasing influence of AI technology and the role of spatial intelligence in various industries, highlighting the efforts of Qunkong Technology in integrating 3D data with AI capabilities for applications in design, digital twins, robotics training, and content creation [1][3]. Product Matrix Development - Qunkong Technology has accelerated the release of new products, including the 3D AI content creation tool LuxReal, aimed at e-commerce professionals and filmmakers, which efficiently generates video content while maintaining spatial consistency [2]. - The company introduced several platforms, such as SpatialVerse for interactive training data, SpatialTwin for industrial AI applications, and an AI design platform on Cool Home, which has launched an overseas version targeting markets in South Korea, Thailand, and Europe [2]. Strategic Vision - CEO Chen Hang emphasized the importance of data in AI applications, noting the scarcity of real data in the spatial intelligence field and the company's development of a data "flywheel" over the past 14 years [3]. - Chairman Huang Xiaohuang stated that the company is focusing on building core capabilities and is open to external collaborations, indicating a commitment to long-term growth across various sectors [3]. Industrial Scene Exploration - At the World Internet Conference, Qunkong Technology unveiled the SpatialTwin platform, which aims to enhance digital twin systems in factories as more intelligent robots are integrated [4]. - The platform is designed to utilize high-density simulation computing power and facilitate real-time collaboration among participants, improving operational efficiency and reducing costs in industrial settings [5]. Expansion into Embodied Intelligence Market - Qunkong Technology is broadening its business scope from spatial design to content creation and embodied intelligence, positioning itself as a provider of spatial intelligence infrastructure [6]. - Collaborations with companies like Moxianfei and Digua Robot aim to innovate robot simulation training solutions, addressing the challenges posed by diverse hardware and data formats in the industry [6]. Future of Training Data - Huang Xiaohuang noted that some clients currently use a 9:1 ratio of simulation data to real data, with expectations that the reliance on digital training will increase as technology evolves [7]. - The company believes that spatial intelligence is crucial for the future development of the robotics industry, enabling robots to understand and operate effectively in the physical world [7].

Core Insights - The article highlights the increasing importance of spatial intelligence technology in various industries, driven by advancements in AI technology. The company, Qunkong Technology, is integrating its accumulated 3D data with AI to enhance capabilities in areas such as spatial design, industrial digital twins, robotic simulation training, and content creation [1][2]. Product Matrix Development - Qunkong Technology has accelerated the release of new products, including the 3D AI content creation tool LuxReal, aimed at professionals in e-commerce, film, and advertising. This tool efficiently generates video content while maintaining spatial consistency, addressing common issues in AI-generated videos [1][2]. - The company also introduced several platforms, including SpatialVerse for intelligent training, SpatialTwin for industrial AI twins, and an AI design platform on Cool Home, which has launched an overseas version targeting markets in South Korea, Thailand, and Europe [2]. Industrial Scene Exploration - The SpatialTwin platform focuses on the application of AI in factory automation, allowing for real-time collaboration and information sharing among participants. It utilizes high-density simulation computing power to enhance operational efficiency and reduce costs in industrial settings [3][4]. - Qunkong Technology has partnered with Hangcha Group and Stand Robot to develop integrated intelligent logistics solutions and promote the large-scale application of industrial embodied intelligence [4]. Expansion into Embodied Intelligence Market - The company is broadening its business scope from spatial design to content creation and embodied intelligence, positioning itself as a provider of spatial intelligence infrastructure. Collaborations with Motphys and Digua Robot aim to innovate robotic simulation training solutions [5]. - The industry faces challenges in training data for embodied intelligence robots, with companies employing both real-world training and simulation platforms to enhance training efficiency. Qunkong Technology's clients are increasingly using synthetic data, with some reporting a 9:1 ratio of synthetic to real data [5].

Core Insights - The company, Qunke Technology, is transitioning to become a "space intelligence infrastructure provider" and has launched a new open platform called Aholo and a new product named LuxReal [1][2] Group 1: Strategic Shift - Qunke Technology announced its strategic shift at the 2025 Cool+ Conference, focusing on providing practical space intelligence capabilities rather than just home decoration [1] - The CEO emphasized the company's goal to be a "water seller" in the three-dimensional space domain, indicating a broader vision beyond initial offerings [1] Group 2: Aholo Platform - The Aholo platform integrates Qunke's core 3D capabilities and is currently in internal testing, allowing users to create high-fidelity holographic 3D spaces using various input methods [2] - The platform targets multiple industries, including space design, XR, short films, cultural heritage protection, industrial digital twins, and robotic simulation training [2] - Qunke Technology has formed a strategic partnership with Huace Film & TV, a leading company in the A-share film industry, to collaborate on virtual film production and scene reconstruction [2] Group 3: LuxReal Product - LuxReal, a new AI content creation tool, was introduced, utilizing Qunke's self-developed AI 3D generation model Lux3D to efficiently produce creative video content [3] - The product aims to enhance the practicality of AI-generated videos in sectors such as e-commerce, industrial design, and gaming [3] - LuxReal is set to begin global internal testing in mid-December [3] Group 4: Financial Performance - In the first half of 2025, Qunke Technology reported revenue of 399 million yuan, a 9% year-on-year increase, and achieved a net profit of 17.83 million yuan [4] - The company's revenue is projected to grow from 601 million yuan in 2022 to 755 million yuan in 2024, driven by increased subscription revenue from major clients [4] - Despite previous losses, the company is on a path to profitability, with net losses decreasing from 704 million yuan in 2022 to 513 million yuan in 2024 [4] Group 5: Investment Background - Since its establishment, Qunke Technology has attracted investments from several prominent firms, including IDG Capital, GGV Capital, and Hillhouse Capital [5]

Core Insights - The core viewpoint of the articles is that Qunke Technology is positioning itself as a key player in the space intelligence sector, focusing on providing foundational capabilities to accelerate the application of AI in various industries, particularly in three-dimensional environments [1][3]. Group 1: Company Developments - Qunke Technology announced the continuous opening of its foundational capabilities related to spatial intelligence to facilitate the application of technology across various industries [1]. - The company is transitioning from a 3D space software provider to a spatial intelligence infrastructure provider, aiming to enhance the intelligence of embodied AI and AIGC [3]. - The Aholo spatial intelligence open platform was launched, integrating 14 years of core capabilities in spatial reconstruction, generation, editing, and understanding, which will be gradually opened to empower broader industry applications [3]. Group 2: Strategic Collaborations - A strategic partnership was formed between Qunke Technology and Zhejiang Huace Film & TV Co., Ltd. to advance the application of spatial intelligence technology in film content creation and production [3]. - The collaboration aims to enhance film production efficiency and artistic expression while promoting the digital transformation of the film industry [3]. Group 3: Product Innovations - Qunke Technology introduced LuxReal, a 3D AI content creation tool developed by a young team, which aims to explore AI-native products based on its spatial capabilities [4]. - LuxReal utilizes the Lux3D model and integrates image and video generation models to create the industry's first 3D Agent system, ensuring temporal and spatial consistency in video content generation [5]. - The company is leveraging its vast interactive spatial data to enhance the realism and physical consistency of simulation environments, thereby narrowing the gap between simulation and reality (Sim2Real) [5][6]. Group 4: Financial Performance - Qunke Technology is progressing towards its IPO on the Hong Kong Stock Exchange, aiming to become the "first global spatial intelligence stock" [6]. - The company reported a turnaround in financial performance, achieving an adjusted net profit of 17.83 million yuan in the first half of 2025 [6].

Core Insights - Qunhe Technology, one of the "Six Little Dragons" of Hangzhou, aims to become a "water seller" in spatial intelligence, focusing on providing foundational capabilities for the technology to accelerate its application in the real world [1] - The company is transitioning from a 3D software provider to a spatial intelligence infrastructure provider, expanding its mission to assist intelligent agents like embodied intelligence and AIGC [1] Group 1: Aholo Spatial Intelligence Open Platform - Qunhe Technology launched the Aholo spatial intelligence open platform, integrating 14 years of core capabilities in spatial reconstruction, generation, editing, and understanding [2] - The platform is currently in internal testing, allowing developers and enterprises to access capabilities via API or SDK to create high-fidelity 3D spaces [2] - A strategic partnership was formed with Huace Film & TV to enhance the application of spatial intelligence in film content creation and production [2] Group 2: LuxReal 3D AI Content Creation Tool - The LuxReal tool, based on Qunhe's AI 3D generation model Lux3D, aims to create the first 3D Agent system by integrating 3D rendering and video enhancement [3] - The tool addresses the current limitations of AI video generation, enhancing its applicability in e-commerce, industrial design, and gaming [3] - Global internal testing for LuxReal is set to begin in mid-December [3] Group 3: Collaborations and Innovations - Qunhe Technology is leveraging its spatial data advantages to collaborate with Motphys and Digua Robotics on innovative solutions for robot simulation training [4] - A partnership with XR platform PICO aims to create the largest interactive XR asset library, enhancing content production for developers and enterprises [5] - The company has upgraded its product matrix, including the launch of an AI design platform that significantly improves efficiency in space design [5] Group 4: Financial and Market Position - Qunhe Technology is progressing with its IPO on the Hong Kong Stock Exchange, aiming to become the first global spatial intelligence stock [5] - The company reported an adjusted net profit of 17.83 million yuan for the first half of 2025, indicating a turnaround from previous losses [5] - Qunhe has attracted investments from several prominent firms, including IDG Capital and Hillhouse Capital [5]

群核科技今日首次发布空间智能开放平台Aholo，公司CEO陈航表示，"当AI开始迈向三维世界，需要空 间智能的'卖水人'。"记者现场获悉，Aholo将陆续开放空间重建、空间生成、空间编辑、空间理解等群 核底层空间智能能力，最终可应用于3D空间创作、影视短剧、工业孪生、机器人仿真等领域。（智通 财经） ...

Core Insights - The article highlights the launch of SpatialTwin, a cloud-native industrial AI digital twin platform by Qunhe Technology, which was recognized as one of the top ten debut achievements at the 2025 World Internet Conference [1][3] - SpatialTwin is the world's first platform capable of real-time simulation of dynamic industrial environments and supports large-scale operation of intelligent agents, showcasing significant technological innovation in the industrial intelligence sector [1][3] Group 1 - SpatialTwin integrates digital twin, AI, and real-time rendering technologies, creating a comprehensive service system that covers factory design planning, simulation verification, smart operation, and embodied robot simulation training [1] - The platform's cloud-native architecture allows for a "zero-deployment" model, enabling on-demand access to high-density simulation computing power to meet the computational needs of numerous intelligent agents during perception and reasoning processes [3] Group 2 - Qunhe Technology has partnered with Hangcha Group, significantly reducing the design planning cycle for its logistics warehouse from one week to just two hours [3] - SpatialTwin is deeply integrated with the RoboVerse intelligent collaborative system from Standard Robots, promoting the large-scale application of industrial embodied intelligence [3]