New Stock News | Seahorse Cloud delivers a registration to the Hong Kong Stock Exchange as China's largest provider of GPUaaS real-time cloud rendering services for cloud gaming.

According to the disclosure of the Hong Kong Stock Exchange on June 27th, Anhui Haima Yun Technology Co., Ltd. (referred to as Haima Yun) has submitted an application for listing on the main board of the Hong Kong Stock Exchange, with CICC and CMB International as its joint sponsors. According to the prospectus, Haima Yun is the largest GPUaaS provider of cloud gaming real-time cloud rendering services in China. Based on data from Insights Consulting, the company is ranked first among providers of real-time cloud rendering services for cloud gaming scenarios in China, with a market share of 17.9% based on revenue calculations for 2024. The company provides real-time cloud rendering services and related solutions to clients in the gaming, entertainment, digital tourism, digital education, and other industries. These services and solutions are supported by self-developed and deeply integrated platform software and infrastructure hardware, equipped with a deeply integrated software and hardware core centered on GPU graphics computing. This architecture allows end users to use digital content and applications based on high-performance GPU computing on different devices anytime, anywhere, without being limited by the user's device. The company implements a 1+1+N strategy, including: a core technology base - GPU-based computing infrastructure and platform software capabilities, which serve as the foundation and pillar of the company's services; a core application scenario - cloud gaming scenarios, empowering the gaming industry with proprietary full-stack real-time cloud rendering technology; and a rich and continuously expanding variety of application scenarios - expanding capabilities to other scenarios that require high-performance real-time graphics rendering, such as entertainment, digital tourism, digital education, AIGC, XR, live streaming, and e-commerce. The company provides real-time cloud rendering services and related solutions to a diverse customer base, primarily enterprise customers (such as digital content operators, game platforms, game developers, game tool service providers, and mobile hardware manufacturers, etc.). Enterprise customers can integrate the company's proprietary SDK and APIs into their products, enabling their end users to use digital content and applications based on high-performance GPU computing on a variety of hardware such as PC, mobile, tablet computers, and smart TVs, such as games, 3D design software, AIGC software, and digital tourism content. The end user's device serves only as an input and output interface, with the content and applications running on the company's cloud platform and rendering results transmitted to the user's device in the form of streaming media. This mechanism does not require a large amount of local computing power, making it easier for end users to access such digital content and applications. The company's real-time cloud rendering capabilities as a GPUaaS provider have been fully validated in the cloud gaming field, making the company a market leader in this field in China. As of December 31, 2024, the company provided real-time cloud rendering services to nine of the top ten market participants in the Chinese cloud gaming industry and established long-term partnerships with well-known market participants including China Mobile Limited, several renowned mobile hardware manufacturers, leading game platforms, and top game developers. As of December 31, 2024, the company's platform hosted over 28,000 games, including several major releases on different devices in recent years, such as a phenomenon-level action role-playing 3A game developed in China and released in 2024, and a groundbreaking open-world game developed in China and released in 2020 that has achieved a milestone in enhancing the mobile gaming experience. Financially, in the fiscal years of 2022, 2023, and 2024, Haima Yun achieved revenues of approximately 290 million, 337 million, and 520 million RMB respectively; with losses and total comprehensive expenses of approximately 246 million, 218 million, and 186 million RMB respectively during the same period.