这是一个基于大语言模型的3D场景语义生成框架 ——其 突破了传统大语言模型对物理世界几何与 空间关系的理解局限，赋予机器类似人类的空间认知和解析能力。 这相当于为具身智能领域提供了 一个基础的空间理解训练框架，企业可以针对特定场景对SpatialLM模型微调，降低具身智能训练门 槛。 群核科技董事长黄晓煌 表示： "我们希望打造一个从空间认知理解到空间行动交互闭环的具身智能 训练平台。本次开源的SpatialLM空间理解模型旨在帮助具身智能机器人完成在空间认知理解上的基 础训练。而去年群核科技发布的空间智能解决方案SpatialVerse，则希望进一步通过合成数据方案 为机器人搭建最接近物理真实的'数字道场'，实现机器人在仿真环境中的行动交互训练。" 从GPU高性能计算到具身智能训练。 本文为IPO早知道原创 作者｜Stone Jin 微信公众号｜ipozaozhidao 据 IPO 早 知 道 消 息 ， 群 核 科 技 于 3 月 19 日 在 GTC2025 全 球 大 会 上 宣 布 开 源 空 间 理 解 模 型 SpatialLM。 在空间和具身智能训练上，目前群核科技已与硅谷头部科技企业等在内的 ...

Company Overview - Qunhe Technology, established in 2011, is a spatial intelligence company leveraging AI technology and GPU clusters, and is one of the "Six Little Dragons" of Hangzhou [2] - The company has submitted an IPO application to the Hong Kong Stock Exchange, aiming to become the "first global spatial intelligence stock" [2] Product Development - Qunhe Technology announced the open-source release of its self-developed spatial understanding model, SpatialLM, which can generate physically accurate 3D scene layouts from a video [1] - SpatialLM overcomes traditional language model limitations in understanding geometric and spatial relationships, enabling machines to possess spatial cognition and reasoning capabilities [1] - The model is designed to provide a foundational training framework for embodied intelligence and can be fine-tuned for specific scenarios, lowering the training threshold [1] Financial Performance - Qunhe Technology's revenue primarily comes from subscription income, which contributed 90.6% and 97.5% of total revenue in 2022 and 2023, respectively [3] - The company's total revenue for 2022 and 2023 was 601 million and 664 million CNY, with a year-on-year growth of 13.8% to 553 million CNY in the first three quarters of 2024 [3] - The gross profit margin has improved, reaching 72.7%, 76.8%, and 80.4% for 2022, 2023, and the first nine months of 2024, respectively [3] Losses and Future Outlook - Despite a gross margin of 80%, Qunhe Technology reported adjusted net losses of 338 million CNY and 242 million CNY for 2022 and 2023, with a reduced loss of 93.61 million CNY in the first three quarters of 2024, down 52.8% year-on-year [4] - The losses are attributed to high R&D expenses, increased sales and marketing costs, and significant changes in the book value of redeemable liabilities [4] - The company anticipates that operating expenses as a percentage of total revenue will decrease as it achieves economies of scale and improves operational efficiency [4] Market Position - Qunhe Technology's main products include "CoolJia" for the Chinese market and "Coohom" for international users, along with the next-generation spatial intelligence solution [3] - The company has shifted its focus from a previous plan to list on NASDAQ to pursuing an IPO in Hong Kong [2][3]