en.Wedoany.com Reported - Shenzhen HQVT Technology Co., Ltd. ("HQVT") has passed the hearing for listing on the Hong Kong Stock Exchange and is currently in the offering stage, becoming a notable IPO event in the multispectral artificial intelligence sector. The company plans to globally offer 85.1625 million H-shares, with approximately 10% for public offering in Hong Kong and the remainder for international placement, at an issue price of HK$7.20 per share, raising a maximum of approximately HK$613 million. HQVT is expected to be listed on the Main Board of the Hong Kong Stock Exchange on June 22, with CMB International and SPDB International acting as joint sponsors. The company aims to accelerate its global expansion through this listing and consolidate its leading position in perceptual intelligence within the multispectral AI niche market.
Headquartered in Shenzhen, HQVT is a specialized multispectral AI enterprise, with its core business focusing on capturing and analyzing optical information across electromagnetic bands including visible light, infrared, and ultraviolet, providing fine-grained insights unattainable through traditional visible light imaging. The company focuses on early detection of fires, electrical faults, and thermal anomalies, aiming to transform safety management from "post-event response" to "pre-event prevention." According to data from Frost & Sullivan, by 2025 revenue, HQVT is the top-ranked multispectral AI company in China and holds a market-leading position in the multispectral AI large model service sector.
HQVT's technological foundation is its comprehensive "optics-sensor-imaging-computing" architecture, which supports a full-chain product portfolio including multispectral AI modules, multispectral AI perception terminals, and multispectral AI large model services. Among these, the multispectral AI large model service, based on the company's proprietary "Zhiyuan Benyuan Large Model," provides platform-based solutions for processing multispectral data and generating advanced analytics and predictive insights.
Financial data shows that HQVT's revenue grew from RMB 117.1 million in 2023 to RMB 668.5 million in 2025, achieving a compound annual growth rate (CAGR) of 138.9%. The company turned profitable in 2024, with adjusted net profit (non-IFRS) increasing from RMB 42.9 million in 2024 to RMB 55.2 million in 2025, reflecting strong market demand for its large model services.
HQVT holds nearly 100 registered invention patents and a series of proprietary AI models, providing intelligent solutions to multiple industries including data centers, power systems, and new energy, serving over 2,500 clients. According to Frost & Sullivan's forecast, China's multispectral AI market will reach RMB 79.4 billion by 2030, with a CAGR of 31.8%. As a national-level specialized and new "Little Giant" enterprise, HQVT plans to use the proceeds from this IPO to drive multiple initiatives, including investing in next-generation multispectral AI large models and professional MEMS chip design, expanding manufacturing capacity at its production bases in Shenzhen and Quzhou, Zhejiang, entering markets in North America, Europe, Southeast Asia, and the Middle East, and extending multispectral applications to new fields such as robotics (embodied intelligence), food safety, and advanced medical care.
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