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 51WORLD Digital Twin Technology Co., Ltd. 北京五一視界數字孿生科技股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：06651） 自願性公告－業務發展最新情況 本公告乃由北京五一視界數字孿生科技股份有限公司（「本公司」，連同其附屬公 司統稱「本集團」）自願作出，以知會本公司股東及潛在投資者有關本集團最新業 務發展。 董事會認為，51Claw系統的落地是本集團繼SimOne及DataOne等核心平台後的底 層技術延伸，使本集團的數字孿生系統具備直接感知並操作物理世界的能力。該 進展進一步鞏固了本集團在空間計算技術領域的佈局，並高度契合本集團致力成 為資本市場「物理AI第一股」的戰略目標，為各項業務創造潛在的商業增量空間。 北京五一視界數字孿生科技股份有限公司 1 針對物理AI的長遠發展，本集團未來計劃打造一體化的「具身智能訓練場」 ...

Core Insights - The successful adaptation of SimOne 4.0 on the Moer Thread MTTS5000 GPU marks a significant advancement in the intelligent driving and robotics simulation platform, enabling comprehensive support for various intelligent driving technology routes and expanding into embodied intelligence training and upgrades [1][2] Company Overview - 51Sim is recognized as a leading synthetic data and simulation platform in China, with core products including SimOne (intelligent driving simulation platform) and DataOne (data closed-loop platform) [1] - SimOne significantly reduces testing and validation costs for intelligent driving systems, allowing for comprehensive testing in various complex scenarios, thus minimizing risks and costs associated with intelligent vehicle testing [1] Industry Context - The successful integration of SimOne 4.0 and the Moer Thread MTTS5000 GPU provides a complete domestic solution for the intelligent driving industry ecosystem, indicating that domestic GPUs have reached the stage of handling high-precision and high-load tasks in autonomous driving [2] - The updated 2026 requirements for vehicle production enterprise access review mandate that intelligent driving-related companies must possess simulation, closed-field, and actual road verification capabilities, along with safety assessment capabilities, making simulation testing a necessity before intelligent vehicles can be deployed on roads [2]

Group 1 - The core product SimOne 4.0 has successfully completed systematic adaptation and deep optimization on the Moer Thread MTTS5000 GPU, supporting multiple intelligent driving technology routes for mass production [1][2] - 51Sim is a leading synthetic data and simulation platform in China, significantly reducing testing and validation costs for intelligent driving systems across various complex scenarios [1] - The Moer Thread MTTS5000 GPU is designed for large model training and high-performance computing, achieving a maximum AI dense computing power of 1000 TFLOPS [1] Group 2 - The successful adaptation of SimOne 4.0 and Moer Thread MTTS5000 GPU provides a complete domestic solution for the intelligent driving industry ecosystem, indicating that domestic GPUs have entered the stage of high precision and high load tasks in autonomous driving [2] - The 2026 revised requirements for vehicle production enterprise access review mandate that intelligent driving-related companies must possess simulation, closed-field, and actual road verification capabilities, making simulation testing a necessity before intelligent vehicles can be deployed on the road [2]

Core Viewpoint - The Hong Kong stock market is experiencing a peak in new stock offerings, with six new stocks opening for subscription on December 18, including Wuyi Vision (06651.HK) [2] Group 1: Company Overview - Wuyi Vision is a digital twin technology company in China, focusing on 3D graphics, simulation, and artificial intelligence [4] - The company provides digital twin solutions across various sectors, including urban planning, water resource management, energy, automotive, transportation, robotics, entertainment, and social media [4] Group 2: Financial Information - Wuyi Vision plans to issue approximately 23.9752 million H-shares, with a public offering of 1.1988 million shares (about 5%) and an international offering of 22.7764 million shares (about 95%) [2] - The expected net proceeds from the offering are approximately HKD 653 million, with a share price set at HKD 30.5 [2] - The company's revenue is projected to grow from RMB 170 million in 2022 to RMB 287 million in 2024, with adjusted net losses narrowing to RMB 43.06 million [5][6] Group 3: Use of Proceeds - Approximately 80% of the funds raised will be allocated to research and development initiatives, 10% for marketing activities in China and overseas, and 10% for working capital and general corporate purposes [4] Group 4: Market Analysis - Analysts note that Wuyi Vision's public offering is relatively small compared to other new stocks, which may lead to lower subscription rates due to high demand from retail investors [2] - The company's market capitalization post-listing is expected to be around HKD 12.4 billion, with a price-to-sales ratio of approximately 40.0X for 2025 revenue, indicating a high valuation [6]

Group 1 - The company, Five One Vision (06651), plans to conduct a global offering of 23.9752 million shares from December 18 to December 23, 2025, with a share price of HKD 30.5 [1] - The offering will consist of 5% allocated for Hong Kong and 95% for international sales, with an additional 15% over-allotment option [1] - The shares are expected to commence trading on the Hong Kong Stock Exchange on December 30, 2025 [1] Group 2 - The company specializes in digital twin technology, focusing on 3D graphics, simulation, and artificial intelligence [2] - Digital twin technology creates high-precision virtual replicas of physical objects or systems, allowing users to observe, analyze, and predict behaviors over time [2] - The company provides digital twin solutions across various sectors, including urban planning, water resource management, energy, automotive, transportation, robotics, entertainment, and social media [2] Group 3 - 51Sim is a leading synthetic data and simulation platform in China, offering products like SimOne, DataOne, and TIM for intelligent driving and robotics simulation [3] - The platform utilizes advanced simulation technologies to enhance the safety and effectiveness of intelligent driving systems [3] - 51Earth aims to create an accessible digital twin world for enterprises and consumers, with a focus on building a foundation through high-quality data assets [3] Group 4 - Based on the offering price of HKD 30.50, the company estimates a net proceeds of approximately HKD 653 million from the global offering [4] - The company plans to allocate about 80% of the net proceeds for research and development initiatives, 10% for marketing activities in China and overseas, and 10% for working capital and general corporate purposes [4]