群核科技获上市备案通知书，或成杭州六小龙中首家上市公司

Core Viewpoint - The company "Qunhe Technology," part of the "Hangzhou Six Little Dragons," is on track to become the first publicly listed company among its peers, having received approval for overseas issuance and updated its prospectus indicating a turnaround in profitability with a reported adjusted profit of 57.127 million yuan [2][4]. Group 1: Company Overview - Qunhe Technology is driven by artificial intelligence technology and specialized GPU clusters, offering a cloud platform for design and visualization [3]. - Its flagship product, "CoolJia," launched in 2013, allows users to design spaces quickly using 3D models and cloud rendering technology, significantly reducing design cycles [3]. Group 2: Business Model - The company operates on a subscription model, initially attracting users with a free version and converting them to paid subscriptions as engagement increases [3]. - For enterprise clients, Qunhe Technology provides tailored software subscription plans and professional services, including modeling, technical configuration, and customer training [3]. Group 3: Financial Performance - As of December 31, 2025, Qunhe Technology had 463,600 customers, generating 795 million yuan in subscription revenue, with enterprise clients contributing 669 million yuan [4]. - Revenue growth has been steady, with figures of 663 million yuan, 755 million yuan, and 820 million yuan from 2023 to 2025, respectively, achieving profitability for the first time in 2025 [4]. - The company's operating costs decreased from 154 million yuan to 145 million yuan between 2023 and 2025, with the cost as a percentage of revenue dropping from 23.2% to 17.8% [5].