Core Viewpoint - Manycore Tech Inc. has submitted its listing application to the Hong Kong Stock Exchange, with JPMorgan and CCB International acting as joint sponsors [1]. Company Overview - Manycore is a leading provider of cloud-native space design software, widely used in various business scenarios including residential, office, retail, and commercial projects. The software leverages AI technology and GPU clusters to create engaging designs with real-time immersive visual effects [3]. - The company targets the space design software market and is the largest provider in China, holding approximately 23.2% market share as of 2024. The market value of China's space design software industry is projected to reach RMB 3.3 billion in 2024, with an expected growth to RMB 6.6 billion by 2029, reflecting a compound annual growth rate (CAGR) of 14.9% [3]. Product Matrix - Manycore's flagship product, Coolhome, is a cloud-native space design software primarily aimed at the Chinese market. Users can quickly start new designs using drag-and-drop 3D models and achieve realistic rendering in real-time. As of June 30, 2025, the product's database includes over 441.4 million 3D models and design elements, with approximately 61.6 million publicly accessible [4]. - The company also offers professional services to enterprise clients, including modeling services, technical configuration, and customer training. The SpatialVerse platform, set to launch in 2024, aims to provide next-generation space intelligence solutions, enhancing AI development in indoor environments [4]. Market Strategy - Manycore has adopted a freemium marketing model and a product-led growth strategy, gaining popularity among designers. As of June 30, 2025, the average monthly active users reached approximately 2.7 million [5]. - The software processes millions of renderings and billions of API calls daily, serving over 432,897 individual clients by June 30, 2025 [6]. Financial Performance - Manycore's revenue for the fiscal years ending December 31 for 2022, 2023, and 2024 was approximately RMB 601 million, RMB 664 million, and RMB 755 million, respectively. For the six months ending June 30, 2025, the revenue was about RMB 399 million. The company reported losses of RMB 704 million, RMB 646 million, RMB 513 million, and RMB 226 million for the respective periods [6][9].

Group 1 - Manycore Tech Inc. (群核科技) has reported significant performance improvement in the first half of the year, achieving a net profit of 17.83 million yuan and a gross margin of 82.1% [1] - According to Frost & Sullivan, Manycore Tech is the largest provider of spatial design software in China, holding approximately 23.2% market share based on projected 2024 revenue [1] - The company's AI-related vertical solutions have shown impressive growth, with e-commerce AI solutions increasing by 188% year-on-year in the first half of the year [1] Group 2 - Manycore Tech has recently upgraded its "Spatial Intelligence" flywheel strategy, focusing on three core areas: spatial editing tools, spatial data, and spatial large models, which promote each other to create a positive feedback loop [2] - The company has accumulated a vast amount of physically accurate spatial data, owning over 441 million 3D models and more than 500 million structured 3D spatial scenes as of June 30, 2025 [2] - The data drives continuous iteration of large model algorithms, which in turn enhances the tools, leading to widespread applications in 3D spatial design, e-commerce 3D AI design, industrial digital twins, and agent training [2]

8月21日，"'一带一路'软件博览馆(香港)2025"在香港开幕，香港特区政府财政司司长陈茂波出席并致 辞。(香港特区政府新闻处供图) 当天，"'一带一路'软件博览馆(香港)2025"在香港开幕。陈茂波出席并致辞指出，香港依托"一国两 制"独特优势，一方面作为自由开放经济体，持续扮演"超级联系人"角色；另一方面，香港正联合粤港 澳大湾区其他城市加速建设全球领先的创科中心。香港作为内地与国际数据交汇点的区位条件，更为香 港发展人工智能、生物科技等产业提供显著优势。 中新网香港8月22日电 香港特区政府财政司司长陈茂波21日在香港的一个创科活动上表示，截至去年香 港初创企业约4700家，较2020年增长40%，其中近三成由非本地创业者创立，印证香港创科生态的全球 吸引力。 ...

天眼查App显示，近日，永州市安安芯科技有限公司成立，法定代表人为黄德顺，注册资本300万人民 币，经营范围为一般项目：电子元器件制造；电子元器件零售；电子元器件批发；电池零配件生产；电 池制造；电池销售；电池零配件销售；电子元器件与机电组件设备销售；机械设备租赁；资源再生利用 技术研发；软件开发；人工智能应用软件开发；软件销售；技术服务、技术开发、技术咨询、技术交 流、技术转让、技术推广；五金产品批发；五金产品零售。（除依法须经批准的项目外，凭营业执照依 法自主开展经营活动）。 ...

Core Insights - Runhe Software (300339) reported a revenue of 1.747 billion yuan for the first half of 2025, representing a year-on-year growth of 10.55% [1] - The company's net profit attributable to shareholders, excluding non-recurring items, reached 52.17 million yuan, marking a year-on-year increase of 47.33%, indicating continuous improvement in profitability [1] - The innovative business segment maintained growth, achieving sales revenue of approximately 368 million yuan, a year-on-year increase of 8.96%, accounting for 21.07% of total revenue [1] Business Development - Runhe Software is a key player in the open-source HarmonyOS ecosystem, being a gold donor to the OpenAtom Open Source Foundation and a core participant in the HarmonyOS project group [1] - The company has launched 13 commercial distribution versions tailored for various industries, leading the community in terms of the number of distributions [1] - The commercial applications of these distributions have been realized in sectors such as power, healthcare, mining, oil and gas, transportation, and education [1] Industry Outlook - Western Securities highlighted that operating systems are crucial for terminal devices, and achieving self-control is essential to effectively counter external technological blockades [1] - The firm is optimistic about the domestic replacement prospects of HarmonyOS in key areas, with Runhe Software positioned to benefit significantly as a core participant in the HarmonyOS ecosystem [1]

Group 1 - As of August 22, the national team appeared as a major shareholder in 14 stocks, holding a total of 3.129 billion shares valued at 23.988 billion yuan [1] - The top three stocks by the number of shares held by the national team are Sinopec, Sany Heavy Industry, and GoerTek, with holdings of 2.641 billion shares, 298 million shares, and 83 million shares respectively [1] - In terms of market value, the national team's largest holdings are also in Sinopec, Sany Heavy Industry, and GoerTek, valued at 14.893 billion yuan, 5.342 billion yuan, and 1.937 billion yuan respectively [1] Group 2 - By the end of the second quarter, the national team was a major shareholder in 61 stocks, holding a total of 8.067 billion shares valued at 98.642 billion yuan [1] - Among these, 45 stocks had holdings exceeding 10 million shares, with Sinopec, Guodian Power, and Huaneng International being the top three by number of shares held, at 2.641 billion shares, 2.531 billion shares, and 467 million shares respectively [1] - The national team's holdings are primarily concentrated in the software, pharmaceutical, and power industries, with 8, 7, and 5 stocks respectively [1]

Group 1 - Wuhan has established 61 grassroots intellectual property protection stations since the end of 2019, evolving from single-point breakthroughs to comprehensive coverage, becoming essential infrastructure in the technology innovation ecosystem [1] - The first intellectual property protection station in the Optical Valley was established in September 2020, focusing on the biomedical industry, which has seen significant growth, helping over 30 companies build patent barriers [2] - The establishment of multiple specialized stations from 2021 to 2023 has created a protective network covering various fields, including digital economy and legal services, enhancing the overall intellectual property service capabilities [2][3] Group 2 - The newly established quantum technology and cross-border e-commerce protection stations in October 2024 signify a strategic focus on future industries, addressing cutting-edge fields and international trade intellectual property issues [5] - The collaborative efforts of these stations have strengthened patent layouts in traditional industries while accelerating the development of new business models in the digital economy, with a target of 120 high-value invention patents per 10,000 people in the Optical Valley by 2024 [3][5] - The ongoing enhancement of service capabilities at these 12 intellectual property protection stations reflects the strategic development of Wuhan's emerging industries, supporting the city's goal of becoming a nationally influential technology innovation hub [6]

Core Viewpoint - The upcoming exhibitions in Zhengzhou are expected to showcase both emerging industries and local advantageous industries, contributing to the city's economic vitality and development momentum [1] Industry Summary - The Zhengzhou International Convention and Exhibition Center will host a series of exhibitions in October, including: - The 6th Zhengzhou ACC Animation Exhibition from October 2 to 4 - The 9th Central Plains International Pet Supply Chain Expo and the 25th Zhengzhou Beauty and Cosmetics Industry Expo from October 10 to 12 - The 21st China (Zhengzhou) International Tea Industry Expo and Beverage Exhibition from October 10 to 13 - The 27th China International Software Expo and the 3rd Central Plains Zhengzhou International Aluminum Industry Exhibition from October 15 to 17 - The Central China Printing and Packaging Expo and the Central China Plastics and Rubber Industry Expo from October 17 to 19 - The China (Zhengzhou) Tourism Leisure and Entertainment Industry Expo from October 22 to 24 - The Global Meat Industry Expo from October 28 to 30 [1] Economic Impact - Industry insiders believe that the exhibition economy serves as a resilient link connecting global market resources and opportunities while stimulating local industry innovation and development, positioning it as a new engine for high-quality development in Zhengzhou [1]

Group 1 - The company, Rigong Nengke, announced the convening of its 18th meeting of the 6th board of directors on August 21, 2025, in Ningbo, where various proposals, including amendments to relevant systems, were reviewed [2] - For the first half of 2025, the company's revenue composition was as follows: software accounted for 46.4%, environmental protection monitoring accounted for 30.18%, power monitoring equipment accounted for 23.28%, and other businesses accounted for 0.14% [2]

Core Viewpoint - The article discusses the importance of foundational software in China's new industrialization process and highlights the financial support provided by the government to enhance the development of this sector by 2027 [3][4][17]. Group 1: Current Status of Foundational Software - Foundational software, including operating systems, databases, and middleware, is crucial for the information technology industry and is emphasized in the government's financial support policies [4][5]. - The market share of domestic desktop operating systems remains low, with Windows holding 72.9% and OSX 15.2% globally, while Linux-based domestic systems face challenges in hardware compatibility and software ecosystem [6]. - In mobile operating systems, Huawei's HarmonyOS has increased its market share from 8% in Q1 2023 to 17% in Q1 2024, surpassing iOS and marking a significant milestone for domestic systems [7][8]. Group 2: Database Market Dynamics - The Chinese database market is projected to grow from approximately 596.16 billion yuan in 2024 to 837.42 billion yuan by 2027, with a compound annual growth rate of 11.99% [10]. - The penetration rate of domestic databases in government sectors is nearing 85%, while industries like energy and manufacturing are gradually accelerating their shift towards domestic solutions [11][13]. Group 3: Middleware Market Overview - The middleware market in China is expected to reach 116.9 billion yuan in 2024, growing by 14.0% year-on-year, driven by advancements in AI and cloud computing [14]. Group 4: Investment and Financing Trends - Since 2025, there have been 20 financing cases in the foundational software sector, totaling over 4 billion yuan, indicating increased investment interest [15][16]. - The government's financial support policies are expected to facilitate easier access to long-term financing for foundational software companies, particularly in core technology areas [17][18]. Group 5: Future Outlook - The release of the financial support guidelines is anticipated to inject strong momentum into the foundational software industry, enabling companies to achieve significant growth and innovation [17][19]. - The emphasis on self-sufficiency in foundational software is not only a national security requirement but also a necessary step for sustainable industrial development, presenting new market opportunities [19].