Core Insights - Cloud Wisdom (09678.HK) has been officially included in the Hang Seng Composite Index and the Hong Kong Stock Connect, reflecting strong market recognition of its capabilities in medical AI applications [1][3] - The inclusion was anticipated by Huatai Securities, which highlighted that Cloud Wisdom met the criteria for inclusion based on market capitalization (over HKD 40 billion), liquidity, and listing duration [3] - The company has established a three-layer technological framework that supports its growth, consisting of a robust AI infrastructure, a large medical model, and application solutions focused on healthcare and daily life [3][4] Company Performance - The medical AI solution has demonstrated significant efficiency improvements, with an 80% increase in medical record entry efficiency and a 15% reduction in doctor consultation time [4] - The adoption rate of generated medical records is as high as 98%, indicating strong acceptance in clinical settings [4] - The average revenue per medical client surged by 116.2% year-on-year to CNY 1.013 million, while revenue from insurance technology services skyrocketed by 1386.8% to CNY 9.963 million [6] Market Position - Cloud Wisdom ranks fourth in the Chinese market for medical AI solutions, with revenue from its large medical model growing by 457.4% in the first half of the year [6] - The rapid inclusion in the Hang Seng Index not only reflects confidence in the AI healthcare sector but also highlights the rarity of its combination of advanced technology and deep market applications [6] - The influx of funds from the Hong Kong Stock Connect is expected to accelerate Cloud Wisdom's expansion in smart healthcare and insurance technology sectors [6]

Core Viewpoint - CloudWalk Technology is set to launch its IPO on the Hong Kong Stock Exchange, aiming to raise up to HKD 320 million, with SenseTime as a cornerstone investor, indicating a strategic partnership in the multimodal field [1][9]. Fundraising and Financials - The company plans to issue 1.561 million H-shares, with 90% allocated for international sales and 10% for Hong Kong sales, at a price range of HKD 165 to HKD 205 per share, potentially raising up to HKD 320 million [6][7]. - The fundraising amount has been significantly reduced by 65% compared to its previous plan for the Sci-Tech Innovation Board, reflecting a more conservative valuation strategy [7]. - Financial data shows that CloudWalk's revenue for 2022, 2023, and 2024 is projected to be HKD 600 million, HKD 727 million, and HKD 939 million respectively, with a compound annual growth rate of 23% [5][6]. Investment and Partnerships - SenseTime, along with other cornerstone investors, has committed to significant investments, with SenseTime's subsidiary subscribing for HKD 43.7 million worth of shares [9]. - The partnership with SenseTime will focus on collaborative innovation in voice and visual multimodal interactions, enhancing the user experience in various industries [9][10]. - The company has a strong shareholder base, including notable investors such as JD.com, 360, and Qualcomm, indicating robust backing for its business model [8]. Use of Proceeds - Approximately 45.6% of the raised funds will be allocated to enhancing R&D capabilities, while 47% will focus on expanding commercial opportunities, reflecting a balanced approach to growth [7][8]. - The company aims to improve existing solutions and penetrate new vertical industries, highlighting its commitment to commercial viability [7].