On July 3, 2026, before market hours, 51WORLD (06651) entered into a placement agreement with placement agents. Under this agreement, the agents have conditionally agreed to act, severally, as the company's agents to use their best efforts to place 5.4656 million placement shares to no fewer than six placees at a price of HK$73.20 per share. To the best of the directors' knowledge, information, and belief, the placees and their ultimate beneficial owners are, or will be, independent professional, institutional, and/or other investors.
The placement shares represent approximately 1.4% of the existing issued H shares (approximately 395 million H shares) and about 1.3% of the total issued share capital as of the date of this announcement. Assuming the placement shares are issued and no other changes occur to the company's issued share capital between the announcement date and the completion of the placement, the new shares will constitute roughly 1.4% of the enlarged issued H share capital and about 1.3% of the total enlarged issued share capital.
The placement price of HK$73.20 per share represents a discount of approximately 12.0% to the closing price of HK$83.15 per H share as quoted on the Stock Exchange on July 2, 2026.
Assuming the full placement of all shares, the gross proceeds from the placement are expected to be approximately HK$400 million. After deducting commissions and estimated expenses, the net proceeds are estimated to be around HK$395 million.
Intended Use of Proceeds
The company intends to allocate the net proceeds to the following key areas aligned with its business development plan:
1. Physical AI Factory Infrastructure
The funds will support the construction of a high-density GPU computing cluster, physical AI data storage and management infrastructure, and the development of a unified scheduling and billing platform for the physical AI factory. In the first half of 2026, the group made significant progress in building the computational foundation for its physical AI factory. Its next-generation intelligent driving and robotics simulation platform, SimOne4.0, is compatible with both domestic and international mainstream GPU and computing platforms. It covers the entire workflow from large model perception mining and 4DGS model training to 4DGS simulation inference and synthetic data generation, having been adapted and deeply optimized for mainstream computing architectures. This enables a high-confidence closed loop for simulation and synthetic data generation across end-to-end, VLA, and world model technical pathways. This strategic positioning across both domestic and foreign computing resources allows the group to maximize performance while maintaining platform neutrality and independent control. The group has also initiated preliminary discussions with partners across the hardware infrastructure value chain to explore collaborative opportunities for building an integrated software-hardware computing ecosystem for physical AI.
2. Development of the 51WORLD MODEL World Model
Proceeds will be used to upgrade the foundational capabilities of the world model, expand scenario coverage, and enhance its multimodal fusion capabilities. In the first half of 2026, the group launched its physics-intuitive world model, "51WORLD MODEL," and achieved major R&D advancements. Based on its self-developed 4D Gaussian Splatting (4DGS) technology, the group has upgraded the model's core capabilities, broadened its scenario coverage, and strengthened multimodal fusion, enabling the generation of engineering-grade, high-fidelity, interactive, and physically-consistent 3D/4D worlds. These enhancements to the world model provide a unified data and simulation foundation for training and validating multiple technical pathways, including end-to-end, VLA, and world models, supporting the group's applications in downstream fields like intelligent driving and embodied intelligence.
3. Scaling the Commercialization of Embodied Intelligence
Funds will support the scaled operation of the AperData embodied intelligence data platform and the construction of the AperOne "digital twin pre-learning" platform. In H1 2026, the group accelerated the commercialization and deployment of embodied intelligence, establishing a product matrix comprising 51Sim (synthetic data and simulation platform), 51Claw (embodied intelligence base system), AperData (embodied intelligence data training ground), and Clonova (spatial intelligence platform). Among these, "51Claw" is built by combining the "51WORLD MODEL" with the group's open-source "OpenClaw," serving as an Agent base system specifically for embodied intelligence. It creates a complete closed loop from environment capture and concurrent simulation to reinforcement learning evolution and Sim2Real deployment. As a representative application, in response to the "Mine Robot Application Verification Pilot" jointly launched in May 2026 by the National Mine Safety Administration and the Ministry of Industry and Information Technology, the group completed embodied intelligence scenario training for mining environments (particularly underground mines, covering excavation, inspection, rescue, etc.). This transforms underground verification from "uncontrollable" to a controllable, reproducible, and iterative process. This methodology has been extended to scenarios like smart ports and smart agriculture. Leveraging a base of over 1,400 enterprise clients, the group expects to assist nearly one hundred customers in achieving thousand-unit-level embodied intelligence deployments within the year across scenarios including buildings, campuses, industry, energy, transportation, and emergency safety.
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