- Hangzhou “Six Little Dragons” member set to debut on Hong Kong exchange
- Fundraising to fuel international expansion and next-gen spatial intelligence products
Hangzhou-based space-intelligence unicorn Manycore Tech has officially launched a share subscription, filing global prospectus documents on April 9 ahead of a planned Hong Kong Stock Exchange debut under the ticker “0068” on April 17. The share sale is slated to close on April 14.
The offering marks Manycore as the first global space-intelligence company to go public and the first among Hangzhou’s so-called “Six Little Dragons” to hit the capital markets.
The IPO plans to sell roughly 161 million shares globally, with a 15% over-allotment option. Hong Kong investors can access 16.06 million shares (10%), while international investors are allocated 145 million shares (90%), under joint sponsorship by J.P. Morgan and CCB International.
The maximum offer price is set at HK$7.62 per share, targeting total proceeds of up to HK$1.227 billion.
Proceeds are intended to fund international expansion, enhance existing products and launch new solutions for real-world and virtual spatial intelligence, invest in core technology and infrastructure, strengthen domestic sales and marketing, and support general corporate purposes.
The IPO has attracted a diverse lineup of cornerstone investors, including Taikang Life, Sunshine Life, GF Fund, Redwood, Mirae Asset, RIME Capital, Hesai HK, Guohui (HK) Holdings, and CR Construction, collectively committing roughly HK$455 million.
Their participation underscores professional confidence in Manycore’s technology capabilities, commercialization track record, and long-term growth potential.
Strategic partnerships across multiple industries—including China’s Agibot, Galbot, PICO, Hesai Technology, Hangcha Group, Huace Film & TV, and Aosom E-Commerce—position Manycore to expand spatial-intelligence applications in indoor design, e-commerce, embodied AI, media, and XR, establishing a broad commercial footprint ahead of its market debut.
