Manycore Tech Lists on Hong Kong Exchange at HK$7.62, Raises US$157M

Gate News message, April 19 — Manycore Tech, a Hangzhou-based spatial AI and 3D design software company, debuted on the Hong Kong Stock Exchange after pricing 161 million shares at HK$7.62 (US$0.97) per share, raising HK$1.23 billion (US$157 million). The stock opened at HK$20.7 (US$2.6), valuing the company above HK$32 billion (US$4.1 billion).

Founded in 2011, Manycore Tech develops interior design tools including Kujiale and Coohom, and has expanded into spatial AI models and digital twin software for ecommerce content and industrial simulation. The company reported 463,591 customers as of December 31, 2025, including 47,416 enterprise clients.

Cornerstone investors including Taikang Insurance, Sunshine Insurance, GF Fund Management, Hony Capital, and Mirae Asset Securities subscribed approximately US$58 million. The Hong Kong public offering was oversubscribed 1,591 times, reflecting strong investor interest in the company's spatial intelligence capabilities.

Manycore Tech posted an adjusted net profit of 57.1 million yuan (US$8.37 million) in 2025 after years of net losses, having invested over 1 billion yuan (US$147 million) in R&D from 2023 to 2025.