经过三年算力基建投入，AI应用批量爆发的时点临近。 继德风新征程、珠海金智维之后，又有一家AI应用公司向港交所发起了冲击。 格隆汇获悉，北京海致科技集团股份有限公司（简称"海致科技"）于12月22日向港交所递交了招股书，由招银国际、 中银国际、申万宏源香港担任保荐人。 01 百度前高管掌舵，高瓴、北京人工智能基金参投 海致科技成立于2013年8月，2025年1月改制为股份有限公司，总部位于北京市经济技术开发区。 公司的机构投资者主要包括君联实体、BAI、Sky Fine、产业升级基金、Yifang、中国互联网投资有限合伙、北京信息 产业发展投资基金有限合伙、北京人工智能基金、高瓴等。 在2025年6月的增资中，海致科技的投后估值为33亿元。 截至2025年12月15日，公司单一最大股东集团合计持有公司已发行股本总额约29.46%，包括任旭阳、杨再飞、海阔分 享及海阔成长。 | | | | | | | | C-1A &C-2A | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | ...

据港交所12月22日披露，北京海致科技集团股份有限公司(简称：海致科技)向港交所主板递交上市申请书，招银国际、中银国际、申万宏源 香港为其联席保荐人。根据弗若斯特沙利文的数据，按2024年营业收入计，海致科技在中国产业级AI智能体提供商中位列第五，市场份额 为2.8%。 下图展示海致科技的核心能力与解决方案、以及其相关的功能特性： 招股书显示，海致科技成立于2013年，是中国图计算与图数据库领域的领军企业，专注于通过图模融合技术开发Atlas图谱解决方案及产业 级智能体并提供产业级人工智能解决方案。根据弗若斯特沙利文的数据，按2024年营业收入计，海致科技在中国以图为核心的AI智能体提 供商中位列第一，市场份额约50%。 根据弗若斯特沙利文的数据，公司是行业内中国首家通过知识图谱有效减少大模型幻觉的企业。凭借公司在多应用场景知识图谱构建领域的 专长，及自多应用场景中积累的经验，再加上由公司客户提供的受控且经过验证的数据集，海致科技在减少AI系统中的幻觉方面实现突 破，并成为行业内兼具战略前瞻性的领军企业。 此外，海致科技也是基于图模融合技术的产业级智能体商业化先行者。通过融合知识图谱的图计算能力与大语言模型的 ...

香港聯合交易所有限公司與證券及期貨事務監察委員會對本申請版本的內容概不負責，對其準確性或完整 性亦不發表任何意見，並明確表示概不就因本申請版本全部或任何部分內容而產生或因倚賴該等內容而引 致的任何損失承擔任何責任。 Beijing Haizhi Technology Group Co., Ltd. 北京海致科技集團股份有限公司 （「本公司」） （於中華人民共和國註冊成立的股份有限公司） 的申請版本 警告 本申請版本乃根據香港聯合交易所有限公司（「聯交所」）與證券及期貨事務監察委員會（「證監 會」）的要求而刊發，僅用作提供資訊予香港公眾人士。 本申請版本為草擬本，其內所載資訊並不完整，亦可能會作出重大變動。 閣下閱覽本文件， 即代表 閣下知悉、接納並向本公司、本公司的聯席保薦人、整體協調人、顧問或包銷團成員 表示同意： 倘於適當時候向香港公眾人士提出要約或邀請，有意投資者務請僅依據於香港公司註冊處處長 註冊的本公司招股章程作出投資決定；招股章程的文本將於發售期內向公眾人士派發。 (a) 本文件僅為向香港公眾人士提供有關本公司的資料，概無任何其他目的；投資者不應根 據本文件中的資料作出任何投資決定； (b) 在聯 ...

Core Viewpoint - Beijing Haizhi Technology Group Co., Ltd. (Haizhi Technology) is preparing for an IPO on the Hong Kong Stock Exchange, aiming to raise funds for research and development, optimization of its Atlas intelligent system, and expansion into new markets and applications [1][2]. Company Overview - Haizhi Technology specializes in AI solutions, particularly in graph-model fusion technology, and has received significant backing from notable investors such as IDG, Hillhouse Capital, and Junlian Capital [1][2]. - The company recently completed a financing round of 350 million RMB, bringing its post-money valuation to 3.3 billion RMB [1][7]. Financial Performance - Haizhi Technology's revenue for the years 2022, 2023, and 2024 is projected to be approximately 313 million, 376 million, and 503 million RMB, respectively, indicating a compound annual growth rate (CAGR) of 26.8% [16][17]. - The gross profit for the same years is expected to be around 97 million, 132 million, and 182 million RMB, with gross margins of 30.9%, 35.2%, and 36.3% [16][17]. - The company has transitioned to profitability, with an operating profit of 3.34 million RMB expected in 2024, alongside an adjusted net profit of approximately 16.93 million RMB [17][18]. Market Position - Haizhi Technology ranks fifth among industrial-grade AI intelligent system providers in China, holding the largest market share among graph-centric AI providers [13]. - The industrial-grade AI market in China is projected to reach 45.3 billion RMB by 2024, with a CAGR of 44.6% from 2025 to 2029, indicating strong growth potential for Haizhi Technology [18]. Product Offerings - The company offers two main AI solutions: the Atlas Graph Solution and the Atlas Intelligent System, which leverage its graph computing and data analysis capabilities [15]. - These solutions have been implemented across various sectors, including fraud detection, intelligent marketing, and risk identification, with over 300 clients and more than 100 application scenarios [15][16]. Leadership and Strategy - Ren Xuyang, a veteran from Baidu, co-founded Haizhi Technology and has played a significant role in its development, transitioning leadership to Yang Zaifei in 2019 [2][5]. - The company has established a high-performance graph computing research station in collaboration with academic experts to enhance its technological capabilities [11].

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].