Stock Track | HQVT Soars 314.72% on IPO Debut Amid Massive Oversubscription and Multispectral AI Leadership

Stock Track06-22

Shares of HQVT (01392) soared 314.72% intraday on their first day of trading on the Hong Kong Stock Exchange.

The dramatic surge followed an exceptionally oversubscribed initial public offering, with the Hong Kong public offering portion attracting approximately 7,181 times more capital than the shares available. This overwhelming demand was reflected in pre-listing grey market trading, where the stock had already surged over 260%.

HQVT, dubbed the "Physical AI First Stock," is a dual leader in China's multispectral AI industry. The company has demonstrated impressive financial growth, with operating revenue reaching RMB 669 million in 2025, representing a three-year compound annual growth rate of 138.9%. The net proceeds from the IPO, approximately HK$537 million, are earmarked for research and development and product development, supporting its technology-driven growth strategy in a sector benefiting from broader policy tailwinds for AI integration.

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