Group 1 - The core viewpoint of the article is that the AI application market is on the verge of a significant expansion following three years of investment in computing power infrastructure [1] - Beijing Haizhi Technology Group Co., Ltd. has submitted its prospectus to the Hong Kong Stock Exchange, marking its entry into the public market [2] - The company was founded in August 2013 and is headquartered in Beijing, with notable investors including Hillhouse Capital and the Beijing Artificial Intelligence Fund [4][3] Group 2 - As of June 2025, Haizhi Technology's post-investment valuation was 3.3 billion RMB [5] - The company has developed Atlas solutions, focusing on graph modeling technology and providing industry-level AI solutions [8][9] - Haizhi Technology has collaborated with over 350 clients across more than 100 application scenarios, including anti-fraud and intelligent marketing [11] Group 3 - The company's revenue has shown steady growth, with figures of 313 million RMB in 2022, 376 million RMB in 2023, and a projected 503 million RMB in 2024, reflecting a compound annual growth rate of 26.8% from 2022 to 2024 [16] - Despite revenue growth, the company has faced significant net losses totaling 664 million RMB over three and a half years due to high upfront investments in product upgrades and commercialization [17] - The gross profit margin has improved from 30.9% in 2022 to 38.5% in 2025, attributed to advancements in AI technology and strategic cost optimization [21] Group 4 - The market for industry-level AI agents is expected to experience explosive growth, with projections indicating a rise from approximately 3.1 billion RMB in 2024 to 45.8 billion RMB by 2029, representing a compound annual growth rate of 71.3% [31] - Haizhi Technology holds a 2.8% market share in the domestic industry-level AI agent market and ranks fifth among providers based on revenue [34] - The company is positioned as a leader in the graph-centric AI agent segment, with a market share of about 50% [34]

Core Viewpoint - Haizhi Technology has submitted an application for listing on the Hong Kong Stock Exchange, with joint sponsors including CMB International, BOC International, and Shenwan Hongyuan Hong Kong [1] Group 1: Market Position - According to projected 2024 revenue, Haizhi Technology ranks fifth among industrial AI providers in China, holding a market share of 2.8% [1] - The company is the leading provider of AI solutions centered around graphics, with a market share of approximately 50% [1] Group 2: Core Solutions - Haizhi Technology offers two main core solutions: the Atlas Graph Solution (which includes the DMC Data Intelligence Platform, Atlas Knowledge Graph Platform, and AtlasGraph Database) and the Atlas Intelligent Agent (developed based on graph-model fusion technology) [1] Group 3: Application and Performance - The company's solutions have been implemented in over 100 application scenarios, including anti-fraud, intelligent marketing, smart operations, risk identification, data governance, and intelligent manufacturing, collaborating with more than 350 clients [1] - In 2023, the AtlasGraph database set a world record in the Association Data Benchmark Committee tests, exceeding existing records by 45% in throughput and achieving the highest overall performance score [1]

Core Viewpoint - Beijing Haizhi Technology Group Co., Ltd. (Haizhi Technology) has submitted its listing application to the Hong Kong Stock Exchange, with a market share of 2.8% among industrial AI providers in China, ranking fifth by projected revenue in 2024 [1][3]. Company Overview - Established in 2013, Haizhi Technology is a leading enterprise in the field of graph computing and graph databases in China, focusing on developing Atlas graph solutions and industrial-grade AI solutions through graph-model fusion technology [3][4]. - According to Frost & Sullivan, Haizhi Technology ranks first among AI providers based on graph technology in China, with a market share of approximately 50% [3]. Technological Advancements - The company is recognized as the first in the industry to effectively reduce hallucinations in large models using knowledge graphs, showcasing its strategic foresight and expertise in constructing knowledge frameworks for various application scenarios [3][6]. - In 2023, Haizhi Technology's AtlasGraph database set a world record for throughput, exceeding existing records by 45%, demonstrating its global leadership in high-performance graph database technology [6]. Product Offerings - Haizhi Technology offers two main solutions: the Atlas graph solution, which includes the DMC data intelligence platform, Atlas knowledge graph platform, and AtlasGraph database, and the Atlas intelligent agent solution, developed using the company's graph-model fusion technology [4][6]. - The solutions have been implemented in various application scenarios, including anti-fraud, intelligent marketing, risk identification, data governance, and smart manufacturing, with over 350 clients across more than 100 application scenarios as of June 30, 2025 [4][6]. Financial Performance - The company reported revenues of RMB 312.99 million, RMB 375.57 million, RMB 503.13 million, and RMB 173.47 million for the fiscal years ending December 31, 2022, 2023, 2024, and the six months ending June 30, 2025, respectively [7][8]. - Gross profit increased from RMB 96.86 million in 2022 to RMB 182.39 million in 2024, with a gross margin rising from 30.9% in 2022 to 38.5% in the first half of 2025 [8].

Core Viewpoint - Haizhi Technology is set to become the first company to go public in Hong Kong focusing on solving the "hallucination" problem of large language models, marking a significant milestone in the AI industry in China [1][4]. Company Overview - Founded in 2013 by Ren Xuyang, a veteran from Baidu, Haizhi Technology aims to create world-class software with a focus on AI solutions [4]. - The company has a strong management team with an average age of under 45, including CEO Yang Zaifei and CTO Yang Juan, emphasizing a technology-driven approach [8]. Technology and Innovation - Haizhi Technology's core technology is based on a deep collaboration with Tsinghua University, leading to the development of the AtlasGraph, a high-performance distributed graph database that set a world record in 2023 [8][10]. - The company launched the Atlas intelligent agent solution in September 2023, integrating knowledge graphs with large language models to effectively address the hallucination issue [8]. Financial Performance - The revenue for Haizhi Technology is projected to grow significantly, with the Atlas intelligent agent business expected to increase from 8.9 million RMB in 2023 to 86.66 million RMB in 2024, marking a growth rate of 872.2% [9]. - The company reported revenues of 312.99 million RMB, 375.57 million RMB, and 503.13 million RMB for the years 2022, 2023, and 2024 respectively, with a compound annual growth rate of 26.8% [14]. Market Position and Growth Potential - The market for industrial-grade AI solutions in China is expected to grow from 65.4 billion RMB in 2025 to 286.1 billion RMB by 2029, with a compound annual growth rate of 44.6% [16]. - Haizhi Technology holds over 50% market share in the AI intelligent agent sector in China, positioning itself as a leader in this rapidly growing market [16].

Core Viewpoint - Haizhi Technology is preparing for an IPO on the Hong Kong Stock Exchange, aiming to leverage its innovative AI solutions and significant market presence in the industry [2][12]. Company Overview - Founded in 2013, Haizhi Technology focuses on developing industrial-grade intelligent agents and providing AI solutions through graph-model fusion technology [4]. - The founder and chairman, Ren Xuyang, is a notable figure in the tech industry, having previously held senior positions at Baidu and co-founded iQIYI [3]. Technology and Solutions - Haizhi Technology is recognized as the first AI company in China to effectively reduce hallucinations in large models using knowledge graphs, enhancing the accuracy and interpretability of its AI solutions [5]. - The company offers two main AI solutions: the Atlas Graph Solution and the Atlas Intelligent Agent, which are designed to meet diverse enterprise needs across various application scenarios [6]. Market Position - According to Frost & Sullivan, Haizhi Technology ranks fifth among industrial-grade AI providers in China and holds the top position among AI providers focused on graph technology, commanding over 50% of the market share [7]. Financial Performance - Revenue figures for Haizhi Technology from 2022 to 2024 are as follows: 313 million CNY, 376 million CNY, and 503 million CNY, reflecting a compound annual growth rate of 26.8% [9]. - The company achieved a significant revenue increase in 2024, largely attributed to the launch of the Atlas Intelligent Agent, which saw revenue rise from 8.9 million CNY in 2023 to 86.6 million CNY in 2024, marking an increase of 872.2% [9]. - Gross profit margins for the same period were 30.9%, 35.2%, and 36.3% respectively [10]. Profitability and Investment - In 2024, Haizhi Technology turned a profit with an adjusted net profit of 16.93 million CNY, achieving a net profit margin of 3.4% [11]. - The company has attracted investments from several prominent firms, including Junlian Capital and IDG Capital, and has a current valuation of 3.3 billion CNY following its latest funding round [12]. Future Plans - The funds raised from the IPO will primarily be allocated to enhancing research and development of graph-model fusion technology, optimizing the Atlas Intelligent Agent, expanding customer collaborations, exploring new application scenarios, and strategic investments [12].