Manycore Tech Debuts on HKEX as the World's First Spatial Intelligence Company

HONG KONG, April 17, 2026 /PRNewswire/ -- Manycore Tech Inc. ("Manycore Tech" or the "Company") today officially listed on the Main Board of the Hong Kong Stock Exchange (HKEX) under stock code 00068.HK, becoming the world's first publicly listed company focused on spatial intelligence. The listing marks a significant milestone for the AI sector in Hong Kong, adding a new flagship to the city's growing AI ecosystem.

The listing ceremony was attended by distinguished guests including Paul Chan Mo-po, Financial Secretary of the Hong Kong SAR Government; Sun Dong, Secretary for Innovation, Technology and Industry; and Bonnie Y Chan, Chief Executive Officer of Hong Kong Exchanges and Clearing Limited. They were joined by Manycore Tech's co-founders Huang Xiaohuang, Chen Hang, and Zhu Hao, alongside the Company's management team, to witness this historic moment.

As the first listed company built on spatial intelligence as its core technological foundation, Manycore Tech received strong market enthusiasm. On its debut trading day, the stock opened sharply higher at HKD 20.7, bringing its market capitalization to approximately HKD 35 billion.

Global "First-of-its-Kind" Spatial Intelligence Company Draws Strong Investor Demand

Founded in 2011, Manycore Tech has focused on leveraging GPU-based computing to simulate and model the physical world, aiming to bridge the digital and physical realms and accelerate AI's integration into real-world environments. The Company operates China's largest cloud-native spatial design platform and has accumulated massive volumes of interactive 3D data. Building on this foundation, it has developed proprietary spatial large models, forming a powerful technological flywheel of "spatial editing tools – spatial data – spatial large models," securing a leading position in the global spatial intelligence sector.

In its IPO, Manycore Tech priced its shares at HKD 7.62, the top end of the offer range, issuing approximately 160.6 million shares globally. The total proceeds amounted to approximately HKD 1.224 billion, with net proceeds of around HKD 1.092 billion.

The offering was met with overwhelming demand, with the Hong Kong public offering oversubscribed by 1,591 times and the international offering by 14.46 times, reflecting strong confidence from global investors in the Company's technological capabilities and growth prospects.

The IPO also attracted a high-quality cornerstone investor lineup, including Taikang Life, Sunshine Life, GF Fund Management, Redwood, Mirae Asset Securities, Wusong Capital, Hesai HK, Guohui Hong Kong, and Huaying Construction. Together, these cornerstone investors subscribed for HKD 455 million worth of shares, providing a solid foundation for the Company's long-term development.

Speaking at the listing ceremony, Victor Huang, Co-founder and Chairman of Manycore Tech, said:

"AI is reshaping the world with unprecedented force, and with it comes greater responsibility. We aim to push AI beyond content generation and dialogue in the virtual world toward true understanding, action, and creation in the physical world. Spatial intelligence is the key to this transformation. We are committed to building a bridge between the digital and physical worlds and have already enabled applications across industries such as spatial design, 3D AI content creation, industrial digital twins, and embodied AI training."

Building a Technological Moat to Power AI's Understanding of the Physical World

As AI evolves from text- and image-based interactions toward engagement with the three-dimensional physical world, spatial intelligence is emerging as a core enabling technology—allowing AI to perceive, reason about, and interact with real-world environments.

Guided by its mission to "make every space computable," Manycore Tech is building the digital infrastructure for AI to understand the physical world. The Company's business has expanded from assisting human users in 3D content creation to empowering intelligent agents with advanced spatial capabilities.

Its product portfolio includes Kujiale, China's largest spatial design platform; its international version Coohom; the 3D AI content creation tool LuxReal; the next-generation spatial intelligence solution SpatialVerse; and the cloud-native industrial AI digital twin platform SpatialTwin.

In addition, Manycore Tech has integrated four core capabilities—spatial reconstruction, generation, editing, and understanding—into its Aholo spatial intelligence development platform, which is open to external developers as foundational infrastructure. This combination of products and open platforms further accelerates the convergence of AI and the physical world.

The Company has expanded its presence beyond spatial design into areas such as embodied AI training, e-commerce visualization, industrial digital twins, and 3D content creation. It has established strategic partnerships with leading companies including AgiBot, Galaxy General, PICO, Hesai Technology, Hangcha Group, Huace Film & TV, and Aosom.

Financially, Manycore Tech has demonstrated steady growth, reporting revenue of RMB 820 million in 2025 with a gross margin of 82.2%. Notably, the Company achieved a key inflection point in 2025, turning profitable with an adjusted net profit of RMB 57.1 million for the year.

On the R&D front, Manycore Tech invested over RMB 1 billion between 2023 and 2025, accounting for 45.5% of its total revenue. As of December 31, 2025, the Company had more than 500 R&D personnel, representing approximately 41.5% of its workforce.

The Company has also built a dedicated GPU computing cluster to support high-performance rendering as well as AI model training and inference. In 2025, it launched its spatial language model SpatialLM and spatial generative model SpatialGen. Following its open-source release, SpatialLM quickly ranked among the top three trending projects on Hugging Face, alongside leading models such as DeepSeek-V3 and Qwen2.5-Omni, attracting widespread global attention.

SOURCE Manycore Tech Inc.