Group 1 - Minglue Technology officially listed on the Hong Kong Stock Exchange, becoming the world's first "Agentic AI" stock and the first company in Hong Kong with a complete technology stack for Agentic AI [2] - The company issued 7,219,000 Class A shares at an issue price of 141 HKD per share, raising over 1 billion HKD, with the public offering being oversubscribed by 4,452.86 times [2] - After opening, the stock price surged to 298.80 HKD, an increase of 111.9% from the issue price, resulting in a total market capitalization of 43 billion HKD [2] Group 2 - According to Frost & Sullivan, Minglue Technology is the largest data intelligence application software provider in China by total revenue in 2024, and also the largest provider in marketing intelligence and operational intelligence application software [3] - The company has accumulated deep industry data and possesses three core technological advantages in data intelligence, enterprise knowledge graphs, and data privacy, creating a solid barrier for entering the enterprise-level AI large model market [3] - As of June 30, 2025, Minglue Technology has obtained 2,322 authorized patents and filed 596 patent applications [3] Group 3 - In September, Minglue Technology launched its enterprise-level proprietary large model product line, DeepMiner, focusing on "building enterprise-level Agentic AI" with a core differentiation of "trustworthy intelligent models + trustworthy data" [4] - The company signed a contract to become a "key introduced enterprise" for the Hong Kong Special Administrative Region government, which is expected to open up growth opportunities as Chinese enterprises expand overseas [4] - The CEO emphasized the importance of trust in AI development, stating that the mission is to create data-driven trustworthy productivity and provide intelligent solutions that are reliable and traceable for global enterprises [4]

Core Insights - Minglue Technology (2718.HK) officially listed on the Hong Kong Stock Exchange on November 3, 2025, raising over HKD 1 billion by issuing 7,219,000 Class A shares at an offering price of HKD 141 per share [1] - The company experienced significant market interest, with the Hong Kong public offering being oversubscribed by 4,452.86 times and the international offering by 13.93 times [1] - After opening, the stock price surged to HKD 298.80, representing a 111.9% increase from the issue price, with a total market capitalization reaching HKD 43 billion [1] Company Overview - Minglue Technology is recognized as the largest data intelligence application software provider in China, according to a Frost & Sullivan report, and leads in marketing and operational intelligence application software [3] - The company has a strong patent portfolio, with 2,322 authorized patents and 596 patent applications as of June 30, 2025 [3] Technological Advancements - The company has made significant breakthroughs in AI, including the HMLLM model that simulates human emotional responses, which was nominated for the best paper at ACM MM 2024 [3] - The proprietary GUI model "Mano" achieved top rankings in global authority lists, while the lightweight model "Cito" excelled in multi-turn dialogue scenarios [3] Strategic Focus - Minglue Technology launched the enterprise-level proprietary model product line "DeepMiner" in September 2025, focusing on "building enterprise-level Agentic AI" with a core differentiation of "trustworthy intelligent models + trustworthy data" [4] - The company signed a contract to become a "key introduced enterprise" for the Hong Kong SAR government, indicating a commitment to global expansion [4] Leadership Vision - The CEO emphasized the importance of trust in AI development, stating that trustworthy models and data are essential for integrating AI into production processes [5] - The company aims to enhance R&D investment to support efficient operations and innovation for enterprises, contributing to a trustworthy and prosperous future in the AI era [5]

Core Insights - Minglue Technology (stock code: 2718.HK) officially listed on the Hong Kong Stock Exchange on November 3, 2025, becoming the "first global Agentic AI stock" and the first company in Hong Kong with a complete technology stack for Agentic AI [1] Group 1: Listing and Financial Performance - The company issued a total of 7,219,000 Class A shares at an issue price of HKD 141 per share, raising over HKD 1 billion [1] - The public offering was highly oversubscribed, with a subscription rate of 4,452.86 times for the Hong Kong public offering and 13.93 times for the international offering [1] - As of 10 AM on the listing day, the stock price reached HKD 298.80, an increase of 111.9% from the issue price, resulting in a total market capitalization of HKD 43 billion [1] Group 2: Company Position and Technology - According to a Frost & Sullivan report, Minglue Technology is the largest data intelligence application software provider in China by total revenue for 2024, and also the largest provider in the fields of marketing intelligence and operational intelligence application software [4] - The company has accumulated significant industry data and possesses three core technological advantages in data intelligence, enterprise knowledge graphs, and data privacy, creating a solid barrier for entering the enterprise-level AI large model market [4] - As of June 30, 2025, Minglue Technology has obtained 2,322 authorized patents and filed 596 patent applications [4] Group 3: Innovations and Strategic Focus - In September 2025, the company launched its enterprise-level proprietary large model product line, DeepMiner, focusing on "building enterprise-level Agentic AI" with a core differentiation of "trustworthy intelligent models + trustworthy data" [5] - The company signed a contract to become a "key introduced enterprise" for the Hong Kong Special Administrative Region government, indicating a commitment to global expansion [5] - The CEO emphasized the importance of trust in AI development, stating that only trustworthy AI can integrate into production processes and contribute value to human civilization [5]