Core Viewpoint - Haizhi Technology Group (02706) has seen a stock price increase of over 6% in early trading, currently up 5.57% at HKD 128.9, with a trading volume of HKD 36.15 million, following the announcement of a strategic cooperation framework agreement with Zhipu (02513) [1] Group 1 - The strategic cooperation will focus on deep collaboration in model training and application scenarios, leveraging Haizhi's graph-model fusion technology (such as Atlas graph) and Zhipu's large model capabilities [1] - Haizhi Technology is dedicated to developing Atlas graph solutions and industry-level intelligent agents through graph-model fusion technology, providing industry-grade AI solutions [1] - Zhipu is recognized as a leading AI company in China, committed to pursuing innovations in Artificial General Intelligence (AGI) [1] Group 2 - The board of Haizhi Technology believes that the strategic cooperation will achieve resource complementarity and collaborative development, leveraging both companies' technological advantages, industry experience, and market resources [1]

Core Viewpoint - The company has entered into a strategic cooperation framework agreement with Beijing Zhiyu Huazhang Technology Co., Ltd. to collaborate in model training and application scenarios [1] Group 1: Company Overview - The company focuses on developing Atlas graph solutions and industry-level intelligent agents through graph-model fusion technology, providing industry-level artificial intelligence solutions [1] - Zhiyu is recognized as a leading artificial intelligence enterprise in China, pursuing innovations in Artificial General Intelligence (AGI) [1] Group 2: Strategic Cooperation - The strategic cooperation framework agreement is a foundational document, with specific business collaborations to be negotiated and formalized in separate agreements [1] - The board believes that the strategic cooperation will achieve resource complementarity and synergistic development, leveraging both parties' technological advantages, industry experience, and market resources [1] Group 3: Regulatory Compliance - The company will make further announcements as necessary or appropriate in accordance with the Hong Kong Stock Exchange Listing Rules [1]

（於中華人民共和國註冊成立的股份有限公司） （股份代號：2706) 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不就因本公告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 本公司專注於通過圖模融合技術開發Atlas圖譜解決方案及產業級智能體，並提供 產業級人工智能解決方案。智譜為中國領先的人工智能企業，致力於追求通用人 工智能(AGI)創新，其H股於香港聯合交易所有限公司上市（股份代號：02513）。 本公司董事會認為，憑藉雙方各自的技術優勢、行業經驗及市場資源，根據戰略 合作框架協議擬進行的戰略合作將實現資源互補與協同發展。 戰略合作框架協議屬框架性合作文件，具體合作業務將由雙方另行協商並簽訂具 體協議。本公司將根據《香港聯合交易所有限公司證券上市規則》於必要或適當時 作出進一步公告。 承董事會命 北京海致科技集團股份有限公司 執行董事兼總經理 楊再飛先生 中國，北京 2026年2月24日 於 ...

Group 1: IPO Market Activity - The Hong Kong IPO market remained active from February 9 to 15, with 18 companies submitting listing applications, 1 company passing the hearing, and 2 companies completing their public offerings [1] - Six new stocks were listed during this period, with several A-share listed companies initiating "A+H" dual listing processes [1] Group 2: Notable Listings - Haizhi Technology Group (02706.HK) was listed on February 13, with an initial price of HKD 27.06 per share, closing at HKD 92.60 on its first day, marking a 242.20% increase and a market capitalization exceeding HKD 37 billion [4] - The company received a subscription rate of 5065.06 times during the public offering phase and raised approximately HKD 655.4 million [4] Group 3: Company Submissions - Siyuan Electric (002028.SZ) submitted its listing application to the Hong Kong Stock Exchange on February 11, with CITIC Securities as the sole sponsor. The company ranks third among private enterprises in China's power distribution and control equipment market, holding a market share of 3.5% [3] - Other companies that submitted applications include Jingxin Pharmaceutical (002020.SZ) and Xinlitai (002294.SZ), both focusing on central nervous and cardiovascular diseases [3] Group 4: Market Trends - The IPO submissions included companies from various sectors, such as VDL Technology in consumer electronics, Helian Group in bulk commodity services, and Hai Rou Innovation in warehouse robotics [3] - In the biopharmaceutical sector, multiple companies, including Vimo Bio, Yimufeng Bio, Plai Medical, and Noling Bio, also submitted applications [3]

Core Viewpoint - Haizhi Technology Group, known as the "first stock to eliminate hallucinations in large models," successfully listed on the Hong Kong Stock Exchange, achieving a remarkable first-day increase of 242.20%, the highest since 2026 [1]. Group 1: Company Overview - Haizhi Technology Group raised approximately HKD 759 million during its IPO, with an oversubscription rate of 5065.06 times in the public offering phase [2]. - The company specializes in developing Atlas graph solutions and industry-level intelligent agents through graph-model fusion technology, which integrates knowledge graphs with large models [4]. - According to Frost & Sullivan, Haizhi ranks fifth among industrial AI intelligent agent providers in China by revenue for 2024, holding a market share of 2.8%, and is the leading provider in China for AI intelligent agents centered around graphs, with a market share of approximately 50% [4]. Group 2: Technological Capabilities - Haizhi Technology Group is the first company in the industry to effectively reduce hallucinations in large models, which refers to AI outputs that appear coherent but are factually incorrect [4]. - The company has established core competencies in three dimensions: factual accuracy, hallucination rate, and complex logical reasoning ability, ensuring high reliability in outputs and low rates of unverifiable or erroneous content [4]. Group 3: Financial Performance - The company has shown steady revenue growth, with revenues of RMB 313 million in 2022, RMB 376 million in 2023, and projected RMB 503 million in 2024. However, it has consistently reported losses, with losses of RMB 176 million in 2022, RMB 266 million in 2023, and RMB 94 million in 2024 [7][8]. - For the first nine months of 2025, the company reported revenues of RMB 249 million but incurred a loss of RMB 211 million [7][8]. - After adjusting for certain financial impacts, the company reported an adjusted net profit of RMB 16.9 million for 2024, while for the first nine months of 2025, it recorded an adjusted net loss of RMB 46 million [9]. Group 4: Shareholder Structure - The company is jointly controlled by key individuals, including Chairman Ren Xuyang and CEO Yang Zaifei, who collectively held approximately 29.46% of the issued share capital before the IPO, which decreased to 27.39% post-IPO [12]. - Notable institutional investors include Junlian Capital, BAI Capital, IDG Capital, and Hillhouse Capital, among others, indicating strong backing from prominent venture capital firms [12][13]. Group 5: Strategic Initiatives - Haizhi Technology Group aims to achieve profitability in the coming years by expanding its business scale, enhancing overall profitability, and optimizing cash flow management [9].

Core Viewpoint - Haizhi Technology Group Co., Ltd. (02706.HK) was listed on the Hong Kong Stock Exchange, closing at HKD 92.60, a 242% increase from its final offer price of HKD 27.06 [1][6]. Group 1: Share Issuance and Financials - The total number of shares issued under the global offering was 28,030,200 H-shares, with 2,803,200 shares for the Hong Kong public offering and 25,227,000 shares for international offering [2][3]. - The total proceeds from the offering amounted to HKD 758.5 million, with net proceeds of HKD 655.4 million after deducting estimated listing expenses of HKD 103.1 million [6][7]. - The company reported cumulative losses of RMB 746.0 million during the reporting period [8]. Group 2: Financial Performance - Revenue for the years ending December 31 for 2022, 2023, and 2024 was RMB 313.0 million, RMB 375.6 million, and RMB 503.1 million, respectively [6][9]. - The net profit (loss) for the same years was RMB -175.8 million, RMB -265.7 million, and RMB -93.7 million, respectively [6][9]. - Adjusted net profit (non-IFRS measure) for the years was RMB -142.7 million, RMB -83.7 million, and RMB 16.9 million for 2022, 2023, and 2024, respectively [10][11]. Group 3: Use of Proceeds - The net proceeds from the global offering will be used for R&D to enhance model fusion technology, optimize the Atlas intelligent agent, deepen customer collaboration, explore new application scenarios, and expand into the Hong Kong and Singapore markets [6][7].

Core Viewpoint - Haizhi Technology (02706.HK), known as the "first stock to eliminate AI hallucinations," made a strong debut on the Hong Kong stock market, with its share price surging over 260% on the first day, setting a record for the highest opening increase of a new stock in Hong Kong this year [1] Group 1: IPO Details - The company issued a total of 28.03 million H-shares, with 2.803 million shares available for public offering, accounting for 10% of the total, and 25.227 million shares for international placement, accounting for 90% [1] - The IPO price was set at HKD 27.06 per share, raising approximately HKD 760 million [1] - Four cornerstone investors participated in the IPO, with a total subscription amount of about USD 15 million (approximately HKD 117 million) [1] Group 2: Company Overview - Founded in 2013, Haizhi Technology focuses on digital transformation needs across multiple sectors, specializing in developing industrial-grade intelligent agents and providing AI solutions [1] - The company's core business centers around the Atlas graph solution and the research and promotion of industrial-grade intelligent agents [1] Group 3: Market Position and Technology - According to Frost & Sullivan, Haizhi Technology ranks fifth among industrial AI intelligent agents providers in China by revenue for 2024 and holds the first position among graph-centric AI intelligent agents providers, with a market share of approximately 50% [2] - The company's competitive edge lies in its "AI hallucination elimination" technology, which addresses the issue of AI-generated content producing seemingly coherent but factually incorrect information [2] Group 4: Financial Performance - Despite continuous revenue growth, the company has not yet achieved profitability due to high initial investments in technology research and development [2] - Revenue figures for 2022 to 2024 are projected at CNY 313 million, CNY 376 million, and CNY 503 million, respectively, with a compound annual growth rate of 26.8% [2] - Net losses for the same period are expected to be CNY -178 million, CNY -266 million, and CNY -93.73 million, totaling approximately CNY -537 million [2] - The company is gradually reducing its R&D expenses, which were CNY 86.94 million in 2022 (27.8% of total revenue), CNY 72.71 million in 2023 (19.4% of total revenue), and are projected to be CNY 60.68 million in 2024 (12.1% of total revenue) [2]

Core Viewpoint - The Hong Kong stock market welcomed two new IPOs, Haizhi Technology and Woer Nuclear Materials, with Haizhi Technology experiencing a significant price surge on its debut, reflecting strong investor interest and market demand [1]. Group 1: Company Overview - Haizhi Technology went public on February 13, with its stock price peaking at over 260% on the first day, closing at 86.8 HKD per share, resulting in a total market capitalization of 34.757 billion HKD [1]. - The company raised a net amount of 655 million HKD through the global offering of 28.0302 million H-shares, with the IPO being oversubscribed by 5065.06 times in the Hong Kong public offering and 8.39 times in the international offering [2][3]. - Haizhi Technology specializes in developing Atlas mapping solutions and industrial-grade AI solutions through graph model fusion technology, ranking fifth among industrial-grade AI providers in China with a market share of 2.8% [3]. Group 2: Financial Performance - The company reported revenues of 313 million CNY, 376 million CNY, 503 million CNY, and 249 million CNY for the years 2022 to 2024 and the first nine months of 2025, with corresponding losses of 176 million CNY, 266 million CNY, 94 million CNY, and 211 million CNY [7]. - The funds raised from the IPO will be allocated to R&D to enhance graph model fusion technology, optimize the Atlas AI model, deepen customer collaborations, explore new application scenarios, and expand into the Hong Kong and Singapore markets [7]. Group 3: Key Investors and Leadership - The IPO attracted cornerstone investors including Beijing Financial Holdings Group, JSC International, Zhizhu, Infini Capital, and Mega Prime, collectively investing 15 million USD [3]. - The company was founded in 2012 by former Baidu executives, with Ren Xuyang currently serving as the chairman and executive director [4][5].

Core Viewpoint - Haizhi Technology Group, known as the "first AI de-illusion stock," saw its shares open over 200% higher on its first day of trading in Hong Kong, marking the best debut performance for a new stock in the Hong Kong market this year [1]. Group 1: Company Overview - Haizhi Technology Group was founded in 2013 and focuses on developing industry-level AI solutions through its proprietary high-performance graph computing technology [3]. - The company is recognized as the first in China to effectively reduce hallucinations in large language models using knowledge graphs, holding a 50% market share in AI agents centered around graphs in China as of 2024 [3]. Group 2: Financial Performance - Despite the strong market debut, the company reported net losses of 176 million yuan, 266 million yuan, 93.73 million yuan, and 128 million yuan for the years 2022, 2023, 2024, and the first half of 2025, respectively [4]. - The losses are attributed to high upfront investments in upgrading existing products and accelerating commercialization [4]. Group 3: IPO Details - The company issued a total of 28.03 million H-shares, with 2.8032 million shares available for public offering in Hong Kong and 25.227 million shares for international placement, at an issue price of 27.06 HKD per share, raising approximately 760 million HKD [2].

Group 1 - HaiZhi Technology (2706.HK) is set to be listed in Hong Kong tomorrow, with a significant increase of 269% in dark trading, reaching HKD 100 [1] - The company is offering a total of 28.03 million shares globally, with an issuance ratio of 7.00% and a price range of HKD 25.60 to 28.00 [1] - HaiZhi Technology is a leading enterprise in the field of graph computing and graph databases in China, focusing on developing Atlas graph solutions and industry-level AI solutions through graph model integration technology [1] Group 2 - In dark trading, the stock reached a high of HKD 100, with an opening price of HKD 44 and a closing price of HKD 27.060 [2] - The trading volume was 1.4146 million shares, with a total transaction value of HKD 1.23 billion [2] - The stock's market capitalization is approximately HKD 34.037 billion, with a total share count of 400 million [2]