Futu News reported on April 16 that$MANYCORE TECH (00068.HK)$The grey market surged over 113%, reaching HKD 16.3 per share, with each lot comprising 500 shares. Excluding handling fees, investors gained HKD 4,340 per lot.
Source of Market Data: Futu Securities
Company Overview
Manycore (Qunhe Technology) is a globally leading spatial intelligence service provider that leverages GPU to compute and simulate the physical world, establishing a business flywheel encompassing ‘spatial editing tools – spatial data – large spatial models.’ The company is committed to accelerating the integration of artificial intelligence into the physical world. Its product portfolio includes China’s largest spatial design platform, Kujiale, and its international version Coohom, as well as SpatialVerse, a next-generation spatial intelligence solution tailored for indoor AI development. SpatialVerse accelerates AI development using realistic and physically accurate synthetic 3D datasets.
The company independently developed large spatial model systems such as SpatialLM, a spatial language model, and SpatialGen, a spatial generation model, enabling AI systems to understand, reason, and generate three-dimensional environments. Currently, the company’s technologies and products are widely applied in scenarios like spatial design, embodied AI training, and e-commerce product display. While helping people realize their imagination in 3D spatial design, these solutions further enhance the cognitive capabilities of robots, AR/VR systems, and AIGC models.
The company’s products are extensively used across various business scenarios, including residential and office buildings, retail stores, and commercial projects. Powered by artificial intelligence (AI) technology and dedicated graphics processing unit (GPU) clusters, the company’s software enables designers and enterprises to create compelling designs and experience them through real-time and immersive visualizations. Designs created with the software can be converted into production-ready drawings, supporting automated manufacturing processes.
Financial Highlights
The company’s revenue increased from RMB 664 million in 2023 to RMB 755 million in 2024 and is projected to rise further to RMB 820 million in 2025. Gross margins for 2023, 2024, and 2025 were 76.8%, 80.9%, and 82.2%, respectively. Adjusted net losses decreased by 71.0% from RMB 242 million in 2023 to RMB 70 million in 2024 and turned into an adjusted net profit of RMB 57.1 million for the first time in 2025.
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Editor/Deng
