Shenzhen HQVT Technology Lists on HKEX Main Board, Accelerating Implementation of Multispectral AI Technology
HONG KONG, Jun 22, 2026 - (ACN Newswire) - Shenzhen HQVT Technology Co., Ltd. ("HQVT" or the "Company," stock code: 1392.HK), a leading multispectral AI technology company in China, officially listed on the Main Board of The Stock Exchange of Hong Kong Limited ("Stock Exchange") today. This milestone marks the Company’s entry into a new stage of global development.
On its first day of listing, Haiqing Zhiyuan opened at HKD 29 per share, representing a surge of over 300% from its offer price. Its total market capitalization approached HKD 25 billion, fully reflecting strong market expectations for the multispectral AI niche sector.
Established in 2013 and headquartered in Shenzhen, HQVT specializes in multispectral AI technology. By integrating sensing capabilities across ultraviolet (UV), infrared, and visible light spectrums with AI algorithms, the Company identifies early risk signals such as electrical leakage, equipment aging, and abnormal temperature rises. These solutions assist customers in high-value scenarios—including power systems, information data centres (IDCs), new energy, and energy storage—to enhance intelligent perception and on-site judgment of abnormal signals. In 2025, the Company was certified by the Ministry of Industry and Information Technology as a National-level Specialised and Sophisticated Key "Little Giant" Enterprise. According to Frost & Sullivan, HQVT ranked first in terms of revenue among multispectral AI enterprises in China in 2025.
Building Full-Chain Technical Capabilities from Perception to Judgment
HQVT has established full-chain capabilities encompassing optical components, sensing modules, on-device computing, and algorithm models under its "optics-sensor-imaging-computing" technical architecture. The Company employs an "Edge-Cloud Collaboration" technical system: at the on-device (edge) level, lightweight AI computing units support real-time on-site identification, inference, and analysis with 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, accumulating risk samples and optimizing algorithm strategies to continuously improve risk judgment in complex scenarios. Notably, the model has achieved over 95% accuracy in detecting early fire signatures.
Leveraging these technical capabilities, HQVT has served more than 2,500 customers and accumulated extensive field experience in high-value scenarios such as data centres and power systems. Risk characteristics, alert results, and disposal feedback from real-world scenarios provide robust support for the Company's continuous algorithm optimization and model iteration.
Significant Commercial Success: Upgrading from "Product Sales" to "High-Value Services" HQVT’s commercialization efforts have been validated across multiple fields. From 2023 to 2025, the Company's revenue 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 to profitability in 2024, and its adjusted net profit (non-IFRS measure) reached RMB 55.2 million in 2025.
Notably, HQVT is transitioning from a product-delivery firm to a provider of solutions and services centered on multispectral AI large models. In 2025, the Multispectral AI Large Model Services segment generated RMB 355.4 million, accounting for 53.1% of total revenue. This business focuses on algorithm optimization, model iteration, and comprehensive judgment in complex scenarios, reflecting the extension of the Company's business model from module and terminal sales to model-driven solutions. As a National-level Specialised and Sophisticated Key "Little Giant," HQVT continues to invest heavily in R&D, with its R&D team accounting for 43.1% of the total workforce as of the end of 2025. As of June 1, 2026, the Company had registered 101 invention patents.
IPO Proceeds to Fuel R&D Investment and Market Expansion
According to Frost & Sullivan, the global multispectral perception market was valued at approximately RMB 85.0 billion in 2025, with North America and Europe accounting for 25% and 28% shares, respectively; the market is expected to reach RMB 305.4 billion by 2030.
According to its prospectus, HQVT plans to use the net proceeds from this offering to enhance R&D capabilities, increase investment in product development, expand production capacity, strengthen business expansion, drive global market penetration, and supplement general working capital.
This listing on the HKEX will provide support for the Company’s subsequent R&D, product iteration, and market expansion while raising awareness of multispectral 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 multispectral AI technology company in China established in 2013. By integrating UV, infrared, and visible light sensing with AI algorithms, the Company enhances intelligent perception and on-site judgment of abnormal signals in scenarios such as power systems, data centres, and new energy storage. Recognized as a National-level Specialised and Sophisticated Key "Little Giant" Enterprise in 2025, HQVT holds the top market share among Chinese multispectral AI companies by revenue.
For more information, please visit: www.hqvt.com
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