Core Insights - Minglue Technology (stock code: 2718.HK) has officially listed on the Hong Kong Stock Exchange, marking the first publicly listed company in Ziyang, Sichuan, with a market capitalization exceeding HKD 40 billion on its debut [1][3] Company Overview - Founded in 2006, Minglue Technology focuses on self-developed large models, leveraging deep industry knowledge and multimodal data capabilities to provide intelligent solutions across the entire marketing and operational chain for enterprise clients [3][4] - The company has served 135 Fortune Global 500 companies, including Procter & Gamble, McDonald's, and Coca-Cola, across various sectors such as retail, consumer goods, food and beverage, automotive, 3C, and cosmetics [3] Shareholding Structure - Post-listing, Tencent holds a 25.96% stake in Minglue Technology, while the company's founder, Wu Minghui, owns 10.28%. Other significant shareholders include Jintuo and AVIC (8.06%) and Sequoia China (approximately 7.15%) [1] Technological Advancements - Minglue Technology has made significant breakthroughs in AI, with its HMLLM model achieving a technological milestone in simulating human subjective emotional responses, earning a nomination for Best Paper at the ACM MM 2024 conference [3][4] - The company launched its enterprise-level proprietary model product line, DeepMiner, in September 2023, focusing on "trusted intelligent models + trusted data" as its core competitive advantage in the enterprise AI large model market [4] Local Economic Impact - Minglue Technology's deep integration with Ziyang began in 2023, establishing its headquarters in the Ziyang High-tech Zone and forming two subsidiaries to drive digital transformation in the region [4] - The Ziyang Development Group invested RMB 300 million in Minglue Technology through a government industry investment fund, acquiring a 4.14% stake, showcasing a successful model for capital attraction and industry incubation in Ziyang [4]