Core Viewpoint - Beijing Wuyi Shijie Digital Twin Technology Co., Ltd. (Wuyi Shijie) has submitted materials for an overseas listing on the Hong Kong Stock Exchange, aiming to issue up to 77,600,840 shares and convert 363,299,144 shares held by 38 shareholders into overseas listed shares, marking a significant step towards becoming the first digital twin company listed in Hong Kong [1][4]. Company Overview - Wuyi Shijie is a digital twin technology company based in mainland China, focusing on 3D graphics, simulation, and artificial intelligence, and has made substantial investments to develop its core competencies [6][8]. - The company aims to provide digital twin solutions across various industries, including urban planning, water resource management, energy, automotive, transportation, robotics, entertainment, and social media [8][9]. Market Position - According to Frost & Sullivan, Wuyi Shijie ranks first in several key indicators within the digital twin industry, including being the first to propose and implement a global cloning plan and achieving the highest revenue in the digital twin sector in 2024 [10]. - The company has established three core business segments: 51Aes (digital twin platform), 51Sim (synthetic data and simulation platform), and 51Earth (digital earth platform), with commercialized products and solutions in each area [10]. Financial Performance - The company's revenue for the years 2022, 2023, 2024, and the first half of 2025 was RMB 170 million, RMB 256 million, RMB 287 million, and RMB 54 million, respectively, with corresponding net losses of RMB 190 million, RMB 87 million, RMB 79 million, and RMB 94 million [11][12]. - The gross profit margin has been declining, with rates of 65%, 54.2%, 51.1%, and 41.1% from 2022 to the first half of 2025 [14]. Development Goals - The company envisions creating a "digital twin earth" by breaking down the initiative into five elements (buildings, roads, vegetation, water bodies, and terrain) and five stages, with the goal of completing the final stage by 2030 to address real-world issues in various fields [10][9].

Core Viewpoint - 51WORLD is advancing its IPO process on the Hong Kong Stock Exchange, having updated its prospectus and received necessary approvals from the China Securities Regulatory Commission, positioning itself as a leader in the digital twin industry in China [2][3]. Company Overview - Founded in 2015, 51WORLD focuses on cloning Earth's 5.1 million square kilometers through significant investments in 3D graphics, simulation, and artificial intelligence [2]. - The company has developed three core business platforms: 51Aes (digital twin platform), 51Sim (synthetic data and simulation platform), and 51Earth (digital earth platform) [2]. Industry Position - According to Frost & Sullivan, 51WORLD ranks first in revenue within the digital twin industry for 2024 and is the first company in the sector to achieve over 250 million HKD in revenue within a year [2]. - It is recognized as the only company in the digital twin industry capable of providing comprehensive digital twin solutions [2]. Financial Performance - Revenue figures for 51WORLD from 2022 to 2024 are projected to be 170 million CNY, 256 million CNY, and 287 million CNY, respectively [3]. - In the first half of 2024, the company's revenue increased by 63.6% year-on-year, from 33 million CNY to 54 million CNY [3]. Investment and Valuation - 51WORLD has attracted investments from notable firms such as Lightyear Capital, Yunji Capital, and SenseTime, with significant stakes held by these investors prior to the IPO [4]. - Following a Series F funding round in June 2024, the company's valuation reached 4.4 billion CNY [4]. Use of IPO Proceeds - The net proceeds from the IPO are intended primarily for research and development, marketing activities in China and overseas, and general corporate purposes [5].

Core Viewpoint - 51WORLD is advancing its IPO process on the Hong Kong Stock Exchange, focusing on digital twin technology and its applications in spatial and embodied intelligence [2][3]. Company Overview - Founded in 2015, 51WORLD aims to replicate Earth's 5.1 million square kilometers through significant investments in 3D graphics, simulation, and artificial intelligence [2]. - The company has developed three core business platforms: 51Aes (digital twin platform), 51Sim (synthetic data and simulation platform), and 51Earth (digital earth platform) [2]. Industry Leadership - According to Frost & Sullivan, 51WORLD is the leading player in China's digital twin industry, projected to rank first in revenue in 2024 and has achieved over 250 million HKD in revenue within a year [3]. - It is the only company in the digital twin sector capable of providing comprehensive digital twin solutions [3]. Technological Innovations - In the spatial intelligence domain, 51WORLD has launched the Clonova platform, enabling users to interact in immersive 3D spaces using natural language processing technology [4]. - In the embodied intelligence sector, the company focuses on simulation and synthetic data technologies to provide efficient training and high-quality synthetic data for robots, addressing the challenges of data diversity and quality [4]. Financial Performance - Revenue figures for 51WORLD from 2022 to 2024 are projected at 170 million CNY, 256 million CNY, and 287 million CNY, respectively [4]. - In the first half of 2024, the company's revenue increased by 63.6% year-on-year, from 33 million CNY to 54 million CNY [4]. Investment and Valuation - 51WORLD has attracted investments from notable firms such as Lightyear Venture Capital, Yunji Capital, and SenseTime, as well as local governments [5]. - Following its F-round financing in June 2024, the company's valuation reached 4.4 billion CNY [7]. - The net proceeds from the IPO are intended for research and development, marketing activities in China and abroad, and general corporate purposes [7]. Shareholding Structure - Prior to the IPO, major shareholders include Lightyear Venture Capital (17.3%), Yunji Capital (3.4%), and SenseTime (2.3%) [6].

Core Insights - The China Securities Regulatory Commission has approved Beijing Wuyi Vision Digital Twin Technology Co., Ltd. to issue up to 77,600,840 overseas listed shares and list on the Hong Kong Stock Exchange, indicating the company has met the prerequisites for the hearing stage [1] - Wuyi Vision, established in February 2015, focuses on technological innovation and application in 3D graphics, simulation, and artificial intelligence, with three core business platforms: 51Aes Digital Twin Platform, 51Sim Synthetic Data and Simulation Platform, and 51Earth Digital Earth Platform, serving over a thousand enterprises globally [1][2] - The global digital twin market is projected to reach $35 billion by 2025 and exceed $120 billion by 2030, with a compound annual growth rate (CAGR) of over 28%, highlighting significant growth potential in the industry [2] Company Performance - Wuyi Vision's revenue for the years 2022, 2023, 2024, and the first half of 2025 was reported as RMB 170 million, 256 million, 287 million, and 54 million respectively, with a year-on-year revenue growth of 62% in the first half of 2025 [2] - The corresponding net losses for the same periods were RMB 190 million, 87 million, 79 million, and 94 million, with adjusted net losses of RMB 132 million, 68 million, 43 million, and 67 million [2] Technological Innovations - Wuyi Vision has launched the Clonova spatial intelligence interactive platform, enabling users to interact in immersive 3D spaces through natural language processing technology, applicable in various sectors such as tourism, social entertainment, enterprise management, and urban planning [3] - The company is also focused on embodied intelligence, providing efficient simulation training and high-quality synthetic data to overcome challenges in physical AI data diversity and quality, enhancing the safety and efficiency of robots in the physical world [3] - If successful in listing on the Hong Kong Stock Exchange, Wuyi Vision is expected to strengthen its position as a key player in AI and digital twin technology innovation and industrialization [3]

（文章来源：证券时报网） 公司是一家在中国的数字孪生科技公司，已围绕3D图形、模拟仿真及人工智能三大领域的技术进行大 量投资并发展核心竞争力。（数据宝） 据联交所12月2日披露，北京五一视界数字孪生科技股份有限公司向联交所提交上市申请，拟香港主板 上市，华泰香港、中国国际金融香港证券为联席保荐人。 ...

公司是一家在中国的数字孪生科技公司，已围绕3D图形、模拟仿真及人工智能三大领域的技术进行大 量投资并发展核心竞争力。 据联交所12月2日披露，北京五一视界数字孪生科技股份有限公司向联交所提交上市申请，拟香港主板 上市，华泰香港、中国国际金融香港证券为联席保荐人。 ...

Core Viewpoint - 51WORLD is a leading digital twin technology company in China, focusing on 3D graphics, simulation, and artificial intelligence to create high-precision virtual replicas of real-world objects and systems [1][2][3] Company Overview - 51WORLD was established in February 2015 and aims to provide digital twin solutions for enterprises, consumers, and developers, ultimately enhancing efficiency, safety, and quality in the real world [2][3] - The company has developed a comprehensive digital twin ecosystem, offering solutions across various sectors including urban planning, water resource management, energy, automotive, transportation, robotics, entertainment, and social media [1][3] Technology and Development - The company is focused on creating a 1:1 digital twin of the real world, which is seen as a driver for growth and innovation [3] - The development process is divided into five stages: static world (2015-2017), dynamic world (2017-2020), semi-simulated world (2020-2023), fully simulated world (2023-2026), and digital twin world (2026-2030) [3] - As of now, the company has reached the fourth stage, achieving real-time generation and rendering technology at a city-level precision [3] Market Position and Achievements - According to Frost & Sullivan, 51WORLD ranks first in several key metrics within the digital twin industry in China, including being the first to propose and implement the Earth cloning plan and achieving over 250 million HKD in revenue within a year [3][4] - The company has established three core business areas: 51Aes (digital twin platform), 51Sim (synthetic data and simulation platform), and 51Earth (digital earth platform), with commercialized products and solutions in each area [3] Intellectual Property and Standards - The company holds 265 software copyrights and valid patents, actively participating in the formulation of 41 international, national, and local standards related to digital twin applications [4] Client Base and Financial Performance - Since its inception, the company has served over 1,000 enterprise clients primarily in mainland China, with business growth in other regions [5] - Financially, the company reported revenues of approximately 170 million RMB, 256 million RMB, 287 million RMB, and 53.82 million RMB for the years 2022, 2023, 2024, and the first half of 2025, respectively [5]

Core Viewpoint - The China Securities Regulatory Commission has issued a notice regarding Beijing Wuyi Shijie Digital Twin Technology Co., Ltd.'s application for overseas listing, allowing the company to issue up to 77,600,840 shares for listing on the Hong Kong Stock Exchange [1] Company Overview - Wuyi Shijie is focused on creating a digital twin of Earth's 5.1 million square kilometers, investing heavily in 3D graphics, simulation, and artificial intelligence technologies to develop core competencies [1] - The company has launched three main business lines: 51Aes (Digital Twin Platform), 51Sim (Synthetic Data and Simulation Platform), and 51Earth (Digital Earth Platform) [1] - Wuyi Shijie’s products and solutions are utilized by over 1,000 large and medium-sized enterprises globally, with operations in 19 countries and regions [1] - According to Frost & Sullivan, Wuyi Shijie is a comprehensive leader in China's digital twin industry [1] Financial Performance - The updated prospectus indicates projected revenues for 2022, 2023, 2024, and the first half of 2025 to be 170 million, 256 million, 287 million, and 54 million yuan respectively [1] - Corresponding adjusted net losses for the same periods are projected to be 132 million, 68 million, 43 million, and 67 million yuan [1]

Core Viewpoint - 51WORLD, a digital twin technology company based in China, has submitted its application for listing on the Hong Kong Stock Exchange, with CICC and Huatai International as joint sponsors [1]. Company Overview - 51WORLD specializes in digital twin technology, which utilizes 3D graphics, simulation, and AI to create high-precision virtual replicas of physical objects or systems [3]. - The company aims to provide digital twin solutions to various enterprises across multiple industries, including urban planning, water resource management, energy, automotive, transportation, robotics, entertainment, and social media [3][4]. Business Model and Goals - The company seeks to establish a 1:1 digital twin of the real world to enhance efficiency, safety, and quality, viewing this initiative as a driver for growth and innovation [5]. - 51WORLD has identified five key elements (buildings, roads, vegetation, water bodies, and terrain) and five stages of development for creating a digital twin earth, with the current phase being the semi-simulated world [5][6]. Market Position and Achievements - According to Frost & Sullivan, 51WORLD ranks first in several key metrics within the digital twin industry in China, including being the first to propose and implement a global cloning plan and achieving the highest revenue in the digital twin sector by 2024 [6]. - The company has established three core business segments: 51Aes (digital twin platform), 51Sim (synthetic data and simulation platform), and 51Earth (digital earth platform), all of which have commercialized products and solutions [6]. Financial Performance - The company reported revenues of approximately 170 million RMB in 2022, 256 million RMB in 2023, and 287 million RMB in 2024, with a significant increase in R&D expenditures over the same period [7][8]. - The operating loss for the year ending December 31, 2022, was approximately 189.8 million RMB, with a notable increase in losses in subsequent years [8].

Core Viewpoint - 51WORLD, a digital twin technology company based in China, has submitted its application for listing on the Hong Kong Stock Exchange, with CICC and Huatai International as joint sponsors [1][3]. Company Overview - 51WORLD specializes in digital twin technology, which utilizes 3D graphics, simulation, and AI to create high-precision virtual replicas of physical objects or systems [3][4]. - The company aims to provide digital twin solutions across various industries, including urban planning, water resource management, energy, automotive, transportation, robotics, entertainment, and social media [3][4]. Business Model and Vision - The company envisions creating a digital twin of the Earth to enhance efficiency, safety, and quality in the real world, targeting a 1:1 digital representation of real-world scenarios [5][6]. - 51WORLD has identified five key elements (buildings, roads, vegetation, water bodies, and terrain) and five stages of development for its digital twin initiative, with the current phase being the semi-simulated world [5][6]. Technological Advancements - As of now, 51WORLD has achieved real-time generation and rendering technology at a city-level precision and has commercialized the ability to generate a city model in one day [5][6]. - The company has established three core business segments: 51Aes (digital twin platform), 51Sim (synthetic data and simulation platform), and 51Earth (digital earth platform), with commercial products and solutions launched in each area [6]. Market Position and Financial Performance - According to Frost & Sullivan, 51WORLD ranks first in several key metrics within the Chinese digital twin industry, including revenue and financing amounts [6]. - The company has served over 1,000 enterprise clients in mainland China and has seen growth in other regions [7]. - Financially, the company reported revenues of approximately 170 million RMB in 2022, 256 million RMB in 2023, and 287 million RMB in 2024, with R&D expenses of 134 million RMB, 103 million RMB, and 58 million RMB for the same periods [7][8].