公开资料显示，海致科技是中国领先的产业级人工智能解决方案提供商，核心聚焦图模融合技术，打造 了Atlas图谱解决方案与Atlas智能体两大核心产品矩阵。Atlas图谱解决方案包含DMC数据智能平台、 Atlas知识图谱平台及AtlasGraph图数据库，可实现多源数据整合、知识图谱构建与复杂关系分析；Atlas 智能体则融合大语言模型推理能力与知识图谱的准确性，赋能企业智能自动化与场景化推理。随着AI 大模型应用的逐步推广，海致科技近年相关除幻收入，即"Atlas智能体"呈现快速增长状态，其中2024年 相比2023年增幅超近9倍，2025年上半年增幅近5倍。 根据弗若斯特沙利文的资料，中国产业级人工智能解决方案市场正处于高速扩张期，预计2025-2029年 复合年增长率达44.6%，从654亿元增至2861亿元。其中，集成知识图谱的产业级AI智能体作为细分赛 道，因能有效减少大语言模型"幻觉"问题，市场需求尤为旺盛，预计2024-2029年复合年增长率高达 140.0%，规模从2亿元增至132亿元。国投证券国际此前指，海致所处的产业级AI智能体赛道增长潜力 巨大，公司在图模融合技术领域具备显著壁垒与领先市场 ...

Company Overview - Haizhi Technology (02706) experienced a significant stock price increase of over 30% on its second day of trading, reaching a high of 123.3 HKD, which is more than 3.5 times its IPO price of 27.06 HKD [1] - As of the latest report, the stock is up 30.67%, trading at 121 HKD with a transaction volume of 1.23 million HKD [1] Product and Technology - Haizhi Technology is a leading provider of industrial-grade artificial intelligence solutions in China, focusing on graph-model integration technology [1] - The company has developed two core product matrices: the Atlas Graph Solution and the Atlas Intelligent Agent [1] - The Atlas Graph Solution includes the DMC Data Intelligence Platform, Atlas Knowledge Graph Platform, and AtlasGraph Database, enabling multi-source data integration, knowledge graph construction, and complex relationship analysis [1] - The Atlas Intelligent Agent combines large language model reasoning capabilities with the accuracy of knowledge graphs, empowering enterprises with intelligent automation and scenario-based reasoning [1] Market Growth and Potential - The industrial-grade AI solution market in China is in a rapid expansion phase, with a projected compound annual growth rate (CAGR) of 44.6% from 2025 to 2029, increasing from 65.4 billion CNY to 286.1 billion CNY [2] - The segment of integrated knowledge graph industrial-grade AI agents is expected to see even higher demand, with a CAGR of 140.0% from 2024 to 2029, growing from 200 million CNY to 13.2 billion CNY [2] - Haizhi Technology is positioned in a high-growth segment with significant barriers to entry in the graph-model integration technology field, indicating strong long-term development support [2]

Core Viewpoint - Haizhi Technology Group Co., Ltd. (02706.HK) was listed on the Hong Kong Stock Exchange, closing at HKD 92.60, a 242% increase from its final offer price of HKD 27.06 [1][6]. Group 1: Share Issuance and Financials - The total number of shares issued under the global offering was 28,030,200 H-shares, with 2,803,200 shares for the Hong Kong public offering and 25,227,000 shares for international offering [2][3]. - The total proceeds from the offering amounted to HKD 758.5 million, with net proceeds of HKD 655.4 million after deducting estimated listing expenses of HKD 103.1 million [6][7]. - The company reported cumulative losses of RMB 746.0 million during the reporting period [8]. Group 2: Financial Performance - Revenue for the years ending December 31 for 2022, 2023, and 2024 was RMB 313.0 million, RMB 375.6 million, and RMB 503.1 million, respectively [6][9]. - The net profit (loss) for the same years was RMB -175.8 million, RMB -265.7 million, and RMB -93.7 million, respectively [6][9]. - Adjusted net profit (non-IFRS measure) for the years was RMB -142.7 million, RMB -83.7 million, and RMB 16.9 million for 2022, 2023, and 2024, respectively [10][11]. Group 3: Use of Proceeds - The net proceeds from the global offering will be used for R&D to enhance model fusion technology, optimize the Atlas intelligent agent, deepen customer collaboration, explore new application scenarios, and expand into the Hong Kong and Singapore markets [6][7].

央广网北京2月9日消息（记者 齐智颖）北京海致科技集团股份有限公司近日正式启动H股全球发售。知 识图谱加持的"AI除幻"技术让海致科技站上资本风口，然而在高增长的AI赛道中，海致科技仍面临持续 亏损、研发费用下滑、流动负债持续提升的局面。 但央广财经记者发现，2024年海致科技经调整后净利润能实现盈利，并非完全依靠主业经营收入增长， 压缩费用也是重要因素。2024年，海致科技销售及营销费用、管理费用、研发费用三项费用支出合计较 2023年缩减1.44亿元。海致科技在聆讯后资料集中披露了其2025年前三季业绩，该公司2025年前三季再 次产生经调整后净亏损4600万元。此外，报告期内，海致科技经营活动所用现金流量净额分别为1.62 亿 元、1.4 亿元、3854.9 万元、1.44 亿元。 央广财经记者就2025年前三季经营活动所用现金流量净额为何大增问题致函海致科技，对方回应称"以 公司招股书或公告为准"。 招股书显示，截至2025年三季度末，海致科技经营活动所用现金流量净额为1.44亿元，主要归因于除税 前亏损2.15亿元，并经以下项目调整：非现金项目以及营运资金变动。非现金项目主要包括：赎回负债 的账面值 ...

Company Overview - Haizhi Technology has passed the listing hearing on the Hong Kong Stock Exchange, with CMB International, Bank of China International, and Shenwan Hongyuan Hong Kong as joint sponsors [1] - The company ranks first in market share among AI intelligent agents centered on graphs in China, with approximately 50% market share [1] Product and Technology - The company focuses on developing Atlas graph solutions and industry-level intelligent agents through graph model fusion technology [1] - Atlas graph solutions, one of its core products, is built on advanced graph computing and data analysis capabilities, including the DMC data intelligence platform, Atlas knowledge graph platform, and AtlasGraph database [1] Market Potential - The market for industry-level AI solutions in China is expected to grow from RMB 65.4 billion in 2025 to RMB 286.1 billion by 2029, with a compound annual growth rate (CAGR) of 44.6% [1] - The market for integrated knowledge graph industry-level AI intelligent agents is projected to increase significantly from RMB 200 million in 2024 to RMB 13.2 billion by 2029, with a CAGR of 140.0% [1]

Core Viewpoint - Beijing Haizhi Technology Group Co., Ltd. has submitted its listing application to the Hong Kong Stock Exchange for the second time, following a previous application that expired in June 2025 due to the expiration of listing materials [1][6] Financial Performance - The company reported net losses of 176 million yuan, 266 million yuan, 93.73 million yuan, and 128 million yuan for the years 2022, 2023, 2024, and the first half of 2025, respectively, primarily due to high upfront investments in upgrading existing products and accelerating commercialization [1][3][8] - Revenue figures for the same periods were 313 million yuan, 376 million yuan, 503 million yuan, and 173 million yuan, indicating a continuous trend of losses despite increasing revenues [3][8] Product and Market Position - The company focuses on developing Atlas graph solutions and industrial-grade intelligent agents through graph-model fusion technology, with its core product being the Atlas graph solution, which integrates data from multiple sources for knowledge graph construction and analysis [2][7] - According to Frost & Sullivan, the company ranks fifth among industrial AI intelligent agents in China with a market share of 2.8% and holds the first position among graph-centric AI intelligent agents with approximately 50% market share [2][7] Client and Supplier Dynamics - The company serves clients primarily in the financial, telecommunications, energy, and public service sectors, with revenue from the top five clients amounting to 114 million yuan, 122 million yuan, 149 million yuan, and 71 million yuan for the years 2022, 2023, 2024, and the first half of 2025, respectively [4][9] - The procurement amounts from the top five suppliers were 33 million yuan, 32 million yuan, 25 million yuan, and 29 million yuan for the same periods, indicating a significant reliance on a few suppliers [4][9] Research and Development - As of June 30, the company had a research and technology team of 489 members, with R&D expenses of 87 million yuan, 73 million yuan, 61 million yuan, and 36 million yuan for the years 2022, 2023, 2024, and the first half of 2025, representing 27.8%, 19.4%, 12.1%, and 20.8% of total revenue, respectively [4][9]

Core Viewpoint - Haizhi Technology Group Co., Ltd. has submitted its listing application to the Hong Kong Stock Exchange for the second time, following a previous application that expired in June 2025 due to the expiration of listing materials [1] Group 1: Financial Performance - The company reported net losses of 176 million yuan, 266 million yuan, 93.73 million yuan, and 128 million yuan for the years 2022, 2023, 2024, and the first half of 2025, respectively [1][3] - Revenue figures for the same periods were 313 million yuan, 376 million yuan, 503 million yuan, and 173 million yuan, indicating a continuous trend of financial losses [3] Group 2: Business Focus and Solutions - The company specializes in developing Atlas graph solutions and industrial-grade AI solutions through graph-model fusion technology, with Atlas graph solutions being a core product [2] - The Atlas graph solution includes the DMC data intelligence platform, Atlas knowledge graph platform, and AtlasGraph database, enabling efficient data integration and complex relationship analysis [2] - The Atlas intelligent agent, developed using the company's technology, empowers enterprises with intelligent automation and natural language interaction capabilities [2] Group 3: Market Position - According to Frost & Sullivan, the company ranks fifth among industrial-grade AI providers in China by revenue in 2024, holding a market share of 2.8%, and ranks first among AI providers focused on graph technology with a market share of approximately 50% [2] Group 4: Client and Supplier Dynamics - The company’s clients primarily include financial institutions, telecom operators, energy groups, and public service providers, with revenue from the top five clients being 114 million yuan, 122 million yuan, 149 million yuan, and 71 million yuan for the respective years [4] - The procurement amounts from the top five suppliers were 33 million yuan, 32 million yuan, 25 million yuan, and 29 million yuan, representing significant portions of total procurement [4]