群核科技更新招股书：上半年扭亏为盈 冲刺“全球空间智能第一股”

Core Viewpoint - Manycore Tech Inc. is advancing its IPO process on the Hong Kong Stock Exchange, aiming to become the world's first publicly listed company in the space intelligence sector, with a projected adjusted net profit of 17.83 million yuan by mid-2025 [1] Group 1: Company Overview - Manycore Tech has evolved from a space editing tool provider to the largest space design platform globally, accumulating over 441 million 3D models and more than 500 million structured 3D spatial scenes as of June 30, 2025 [1] - The company has attracted investments from notable firms including IDG Capital, GGV Capital, and Hillhouse Capital among others [1] Group 2: Financial Performance - Manycore Tech reported a revenue of 400 million yuan in the first half of this year, serving over 433,000 individual customers and 47,000 enterprise customers, with net revenue retention rates of 101.6% for enterprise clients, 110.0% for large clients, and 92.3% for individual clients [2] - The company's operating costs have decreased from 164 million yuan in 2022 to 154 million yuan in 2023, and further to 144 million yuan in 2024, with operating costs dropping to 71.5 million yuan in the first half of 2025, resulting in a gross margin of 82.1% [2] Group 3: AI Business Growth - Manycore Tech's AI-related vertical solutions are experiencing rapid growth, with its e-commerce AI solution, "Cool Home E-commerce Studio," achieving a revenue increase of 188% year-on-year in the first half of this year [3] - The company generated approximately 1.1 billion design images using AI in the first half of this year, focusing on empowering space design and cross-border e-commerce marketing [3] Group 4: Ecosystem Development - The SpatialVerse platform, developed by Manycore Tech, leverages its extensive structured spatial data to create realistic synthetic datasets for training AI models, enhancing the capabilities of intelligent robots and AR/VR systems [4] - Manycore Tech has established partnerships with companies in the embodied intelligence sector, including Zhiyuan Robotics and Galaxy General [4] Group 5: Open Source Initiatives - In March, Manycore Tech open-sourced its spatial language model, SpatialLM, which ranked among the top three on the Hugging Face trends list, enabling the generation of physically accurate 3D scene layouts from video inputs [5] - The company also released the 3D Gaussian semantic dataset, InteriorGS, which topped the Hugging Face trends list, marking a significant advancement in AI spatial training [5]