HongKong, June 22, 2026 (GLOBE NEWSWIRE) — Shenzhen HQVT Technology Co., Ltd. (“HQVT” or the “Company”, stock code: 1392.HK), a leading multi-spectral AI technology company in China, today officially listed on the Main Board of the Stock Exchange of Hong Kong Limited (“Stock Exchange”). This milestone marks the company’s entry into a new phase of global development.
On the first day of listing, Haiqing Zhiyuan opened at HKD29 per share, an increase of over 300% over the offering price. The total market capitalization approached HKD 25 billion, fully reflecting the strong market expectations for the multi-spectral AI niche sector.
Founded in 2013 and headquartered in Shenzhen, HQVT specializes in multispectral AI technology. By integrating detection capabilities in ultraviolet (UV), infrared and visible light spectra with AI algorithms, the company identifies early risk signals such as electrical leakage, equipment aging and abnormal temperature increases. These solutions help customers in high-end scenarios, including power systems, information data centers (IDCs), new energy and energy storage, to improve intelligent on-site perception and assessment of abnormal signals. In 2025, the company was certified by the Ministry of Industry and Information Technology as a specialized and advanced “small giant” enterprise at the national level. According to Frost & Sullivan, HQVT ranked first in revenue among multispectral AI companies in China in 2025.
Building technical capabilities across the entire chain, from perception to judgment
HQVT has developed full chain capabilities that include optical components, sensing modules, on-device computing and algorithm models under the technical architecture of ‘optics-sensor-imaging-computing’. The company uses a technical “Edge-Cloud Collaboration” system: at the device level (edge), lightweight AI computing units support real-time identification, inference and on-site analysis at speeds as low as 50 milliseconds, maintaining low-latency operation even in offline or low-bandwidth environments. In the cloud, the company’s proprietary “Zhiyuan Origin Large Model” serves multi-scenario applications, collecting risk samples and optimizing algorithm strategies to continuously improve risk assessment in complex scenarios. Notably, the model achieved over 95% accuracy in detecting early fire signatures.
Leveraging these technical capabilities, HQVT has served more than 2,500 customers and built extensive field experience in high-end scenarios such as data centers and energy systems. Risk characteristics, alert results, and drain feedback from real-world scenarios provide robust support for the company’s ongoing algorithm optimization and model iteration.
Upgrade from ‘Product Sales’ to ‘High Quality Services’
HQVT’s commercialization efforts have been validated in multiple areas. From 2023 to 2025, the company’s revenues grew from RMB 117.1 million to RMB 668.5 million, representing a compound annual growth rate (CAGR) of 138.9%. The company achieved a turnaround in profitability in 2024, and adjusted net profit (non-IFRS measure) reached RMB 55.2 million in 2025.
Notably, HQVT is transitioning from a product delivery company to a provider of solutions and services focused on large multispectral AI models. In 2025, the Multispectral AI Large Model Services segment generated RMB 355.4 million, accounting for 53.1% of total revenue. This company focuses on algorithm optimization, model iteration and comprehensive assessment of complex scenarios, which reflect the expansion of the company’s business model from selling modules and terminals to model-driven solutions. As a specialized and sophisticated major ‘little giant’ nationally, HQVT continues to invest heavily in R&D, with the R&D team representing 43.1% of the total workforce at the end of 2025. As of June 1, 2026, the company had registered 101 invention patents.
IPO proceeds fuel R&D investments and market expansion
According to Frost & Sullivan, the global multispectral perception market was estimated to be approximately RMB 85.0 billion by 2025, with North America and Europe accounting for 25% and 28% of the shares, respectively; the market is expected to reach RMB 305.4 billion by 2030.
According to the prospectus, HQVT intends to use the net proceeds from this offering to enhance R&D capabilities, increase investment in product development, expand production capacity, enhance business expansion, drive global market penetration and replenish general working capital.
This listing on the HKEX will support the company’s subsequent R&D, product iteration and market expansion, while raising awareness of multi-spectral AI applications in industrial and safety scenarios.
About Shenzhen HQVT Technology Co., Ltd.
Shenzhen HQVT Technology Co., Ltd. (Stock Code: 1392.HK) is a leading multi-spectral AI technology company in China, founded in 2013. By integrating UV, infrared and visible light detection with AI algorithms, the company improves the intelligent on-site perception and assessment of abnormal signals in scenarios such as power systems, data centers and new energy storage. HQVT will be recognized as a national-level specialized and advanced key enterprise in 2025 and will have the largest market share in terms of revenue among Chinese multispectral AI companies.
For more information please visit: http://www.hqvt.com
