2025年港股18C收官之作，“Physical AI第一股”五一视界开启招股

Core Viewpoint - 51WORLD (五一视界), a leading company in the Physical AI sector, has launched an IPO with a global offering of 23.975 million shares priced at HKD 30.5 per share, aiming to raise approximately HKD 731 million, potentially up to HKD 841 million if the over-allotment option is exercised [1][2]. Group 1: IPO Details - The IPO will take place from December 18 to December 23, 2025, with the listing on the Hong Kong Stock Exchange expected on December 30, 2025 [1]. - The offering includes 1.199 million shares for the Hong Kong public and 22.776 million shares for international placement, along with a 15% over-allotment option [1]. Group 2: Company Overview - Founded in 2015, the company has developed a comprehensive technological capability in the three key components of Physical AI: data fuel, spatial models, and training platforms [1]. - 51WORLD has established a closed-loop ecosystem of Physical AI, integrating synthetic data, spatial intelligent models, and simulation training platforms, creating significant technological and ecological barriers to entry [1]. Group 3: Business Operations - The company has launched three core business lines: 51Aes (digital twin platform), 51Sim (synthetic data and simulation platform), and 51Earth (digital earth platform) [2]. - Its products and solutions are widely used by over 1,000 large and medium-sized enterprises across 19 countries and regions, with successful commercialization in verticals such as intelligent driving, transportation hubs, smart factories, and smart energy [2].