Core Viewpoint - 51WORLD is set to launch an IPO, aiming to raise up to HKD 841 million, positioning itself as the first "Physical AI" stock on the Hong Kong Stock Exchange [1][2] Group 1: IPO Details - The company plans to issue 23.975 million shares at a price of HKD 30.5 each, with an additional 15% over-allotment option [1] - The subscription period is from December 18 to December 23, 2025, with the listing expected on December 30, 2025 [1] Group 2: Company Background - Founded in 2015, 51WORLD is a leading player in the Physical AI sector, focusing on 3D graphics, simulation, and artificial intelligence [1] - The company has developed three core businesses: 51Aes (digital twin platform), 51Sim (synthetic data and simulation platform), and 51Earth (digital earth platform) [1] - Its products and solutions are utilized by over 1,000 large and medium-sized enterprises across 19 countries and regions [1] Group 3: Shareholder Composition - The company boasts a strong shareholder base, including industry giants, top investment institutions, local state-owned assets, and notable individual investors [2] - Strategic shareholder Moore Threads, a leading domestic GPU company, not only provides financial support but also enhances technical collaboration and ecosystem expansion [2] - The company has attracted significant interest from top investment firms, including state-owned entities and prominent private equity funds, reflecting strong market confidence in its technological and business model advantages [2]
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