120亿腾讯系AI独角兽冲刺港股IPO，北大数院校友创业19年，包揽27%世界500强客户

Core Viewpoint - Minglue Technology, a leading data intelligence application software provider in China, is preparing for an IPO in Hong Kong with a valuation of approximately 12 billion RMB [1][45]. Company Overview - Minglue Technology, formerly known as "Hui Zhi Holdings," has submitted its prospectus to the Hong Kong Stock Exchange [2]. - The company has raised a total of 27 rounds of financing over 19 years, attracting investments from notable firms such as Tencent, Kuaishou, and Sequoia [3][41]. - It serves 135 Fortune Global 500 companies, accounting for 27% of the total [4][16]. Business Model and Products - Minglue Technology focuses on data intelligence applications, utilizing large models, industry-specific knowledge, and multimodal data to enhance marketing and operational decision-making for clients [6]. - The company's products are categorized into three main areas: 1. Marketing Intelligence: Includes tools for marketing data measurement and customer insights, with key products like the "Miao Zhen System" [7][8]. 2. Operational Intelligence: Targets offline stores, serving clients like KFC and Starbucks [12]. 3. Industry Solutions: Provides customized AI solutions for sectors such as finance and manufacturing [12][15]. Financial Performance - Revenue for Minglue Technology from 2022 to 2024 is projected to be 1.269 billion RMB, 1.462 billion RMB, and 1.381 billion RMB, respectively [20]. - The "Miao Zhen System" is the primary revenue driver, contributing over 50% of marketing intelligence revenue [23]. - Gross profit for the past three years was 676 million RMB, 733 million RMB, and 712 million RMB, with gross margins of 53.2%, 50.1%, and 51.6% [28]. Market Position - According to Frost & Sullivan, Minglue Technology ranks first among data intelligence application software providers in China, with a market share of 4.4% [17]. - The Chinese data intelligence application software market is expected to grow from 30.3 billion RMB in 2023 to 71.3 billion RMB by 2028, with a compound annual growth rate of 18.7% [47]. Future Outlook - The company anticipates significant growth in data volume and complexity, which will enhance the value of data intelligence applications [52]. - Minglue Technology emphasizes the importance of integrating large models with industry-specific knowledge to drive business transformation [54].