AI computer vision algorithm provider EXTREME VISION (06636) concluded its public offering period, which ran from March 20 to March 25, with subscription closing at noon on Wednesday, March 25. Market sources indicate the public offering portion received applications from 159,000 subscribers, resulting in an oversubscription rate of 4,596 times. This makes it the fifth most oversubscribed new listing this year by multiple, involving a total of HK$115.8 billion. According to the listing plan, the company intends to issue 12.48 million H-shares, with the Hong Kong public offering accounting for 5% and the remainder allocated for international placement. The offer price is set at HK$40 per share, aiming to raise HK$499 million. Each board lot of EXTREME VISION consists of 50 shares, with an entry cost of HK$2,020.16 per lot. The shares are expected to begin trading on March 30. CITIC Securities is the sole sponsor for the listing. EXTREME VISION has entered into cornerstone investment agreements with Zhengjin International and GKI. The cornerstone investors have agreed to subscribe for a certain number of shares at the final offer price, with a total investment value of HK$47.2 million. EXTREME VISION Technology is a Chinese provider of AI computer vision solutions, offering end-to-end services in development, deployment, and management for enterprises across various industries. According to data from Frost & Sullivan, based on 2024 revenue, the company ranked eighth in China's emerging enterprise-level computer vision solutions market. As of last September, EXTREME VISION's AI computer vision algorithm store showcased 1,517 different algorithms, covering more than 100 industries. The company also focuses on the continuous development and expansion of applications for its AI computer vision solutions. By the end of September last year, it had established a global community comprising hundreds of thousands of AI algorithm developers and had served a cumulative total of over 3,000 customers. It provides a robust infrastructure platform and a wide range of AI computer vision solutions to assist enterprises in their digital transformation. The company delivers solutions to clients across multiple verticals, including industrial, energy, retail, and transportation sectors. During the track record period, the majority of the company's customers were based in China, encompassing businesses, government entities, and universities. Financially, EXTREME VISION reported revenues of approximately RMB 102 million, RMB 128 million, and RMB 257 million for the years 2022, 2023, and 2024, respectively. For the nine months ended September 30, 2025, revenue was RMB 136 million. For the same periods, the company's annual/period profits were approximately a loss of RMB 60.722 million, a loss of RMB 56.246 million, a profit of RMB 8.708 million, and a loss of RMB 36.296 million, respectively. Regarding the use of net proceeds, the company plans to allocate 60% towards enhancing its research and development capabilities, 30% towards boosting its commercial capabilities, and the remaining funds will be used for working capital and general corporate purposes.
Comments