According to Zhitong Finance APP, MANYCORE TECH (00068) surged more than 18% intraday, and as of press time, it was up 11.52% at HK$3.485, with turnover of approximately HK$508 million.
On the news front, attention on physical AI has rapidly heated up recently, with industry events including OpenAI, Nvidia GTC, and Unitree Technology's ecosystem conference jointly catalyzing an explosive rally in the sector.
It is reported that MANYCORE TECH is regarded as a rare domestic physical AI target, primarily because it has already built a complete flywheel of "GPU cluster—3D data—spatial model—industry application."
At the model level, the company has constructed a series of model technology foundations including the world generation model SpatialGen, the 3D generation model Lux3D, and the spatial language model SpatialLM, helping AI achieve understanding, reasoning, and generation of the physical world.
In the first half of this year, MANYCORE TECH's revenue from new AI applications and new products grew by more than 177% year-on-year, while achieving adjusted net profit of RMB 55.42 million, up 211% year-on-year, approaching last year's full-year profitability level.
An internal letter recently released by MANYCORE TECH co-founder and chairman Huang Xiaohuang stated that MANYCORE TECH will insist on one thing going forward: using spatial intelligence to bring the digital world and the real world closer and closer together—not just "looking similar," but "truly matching up"—and ultimately becoming the gateway for AI to enter the physical world.
It is worth noting that on October 20, MANYCORE TECH announced that company co-founders Huang Xiaohuang, Chen Hang, and Zhu Hao, as well as CFO Shen Bei, voluntarily extended or entered into a 12-month lock-up period for their respective shareholdings in the company.
The shares subject to the extension commitments total 483 million shares, accounting for approximately 27.99% of MANYCORE TECH's total issued shares.
At the same time, multiple cornerstone and early shareholders of MANYCORE TECH, including Linear Capital, Yunqi Partners, Hesai Technology, Jinyong Investment, Wusong Capital, and Huaying Construction (with Zhejiang Construction Group as controlling shareholder), have explicitly stated their long-term optimism and intention to continue holding.
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