“杭州六小龙”第一股，要来了

Core Viewpoint - Manycore Tech Inc. is progressing towards its IPO on the Hong Kong Stock Exchange, aiming to become the first company among the "Hangzhou Six Little Dragons" to complete the process [3][4]. Group 1: Company Overview - Manycore Tech Inc. is targeting to be the "first global space intelligence stock" with its products including the space design platform "Cool Home" and the overseas version "Coohom," as well as the next-generation space intelligence solution "SpatialVerse" [5]. - The company launched the Aholo space intelligence open platform in 2025, integrating various space intelligence capabilities and promoting the combination of AI with the physical world [5]. Group 2: Business Development - Manycore Tech is focusing on the space large model sector, having introduced the Spatial Language Model (SpatialLM) and the Spatial Generation Model (SpatialGen) in 2025, which enhance AI's understanding and reasoning of the physical world [6]. - The company has established a business system comprising "space editing tools - space data - space large models," evolving from a cloud-native space design software provider to a space intelligence service provider [6]. Group 3: Financial Performance - Manycore Tech has turned profitable, with revenues projected at 664 million yuan, 755 million yuan, and 820 million yuan for 2023 to 2025, respectively, and gross margins of 76.8%, 80.9%, and 82.2% [6]. - The company reported losses of 646 million yuan, 513 million yuan, and 428 million yuan for the same years, with adjusted net profits improving from -242 million yuan to 57.1 million yuan [6]. Group 4: IPO Fund Utilization - The net proceeds from the IPO will primarily be used for international expansion, enhancing existing products, launching new functionalities, domestic sales and marketing, investing in core technologies and infrastructure, and general corporate purposes [7].