Wuyi Vision (06651) will commence its IPO from December 18 to December 23, and is expected to be listed on December 30.

Wu Yi Vision (06651) will be listed from December 18th to December 23rd, 2025. The company plans to globally sell 23.9752 million shares, with 5% sold in Hong Kong and 95% sold internationally. There is also an additional 15% over-allotment option, with an offer price of 30.5 Hong Kong dollars per share. Each lot consists of 200 shares, with trading expected to begin on December 30th, 2025, on the Stock Exchange of Hong Kong. The company is a digital twin technology company in China. It has developed core competitive strengths in the areas of 3D graphics, simulation, and artificial intelligence. Digital twin technology is a virtual replication technology that uses 3D graphics, simulation, and AI to create highly accurate virtual replicas of physical objects or systems (such as city buildings or vehicles). This virtual model can accurately reflect real-world objects, allowing users to observe, analyze, and predict their behavior and changes over time. Digital twins are applied in various fields to simulate and plan urban development, traffic management, and emergency response strategies that affect real-world environments. The company primarily provides digital twin solutions for enterprises of various sizes and industries. Its industry solutions cover more than ten sectors, including cities, water resource management, energy, automobiles, transportation, Siasun Robot & Automation, entertainment, and social media. The company's suppliers mainly include hardware suppliers (such as all-in-one machines and specialized equipment) and software suppliers (such as scene design, artistic rendering, and digital model building). With its in-depth understanding and cross-domain application of the three core digital twin technologies (3D graphics, simulation, and artificial intelligence), as well as its engineering and commercialization capabilities in these three technologies, the company primarily offers products and solutions in three areas: 51Aes is the company's digital twin development and application platform, aimed at improving the design and operation efficiency of enterprise customers and supporting cross-industry digital intelligent transformation. It currently covers over ten industries, including cities, parks, rural areas, water conservancy, industrial, energy, real estate, medical, and education. 51Sim is China's leading synthetic data and simulation platform. Its core products include SimOne (intelligent driving and Siasun Robot & Automation simulation platform), DataOne (data closed-loop and synthetic data platform), and TIM (traffic information model platform). 51Sim uses advanced data-driven simulation technology, distributed cloud simulation technology, end-to-end simulation technology, generative artificial intelligence technology, and other core technologies to provide customers with software products and solutions for intelligent driving simulation testing and synthetic data for artificial intelligence system training, to enhance the safety and performance of intelligent driving systems. In addition, many products of 51Sim have cross-industry scalability and are intended to establish a common simulation and synthetic data platform for more industries. 51Earth embodies the company's brand history, technology, and product development, aiming to create a digital twin world accessible and contributable by both enterprises and consumers. While the development and commercialization of 51Earth is a long-term goal, the platform currently focuses on laying the foundation by providing high-precision data assets required by developers See3 and Short3A, while continuing to accumulate data to support its long-term vision. The company launched 51Earth.com on March 1, 2024, and provided free 51Earth Builder and 51Earth Dev Kit on July 1, 2024. As of the last feasible date, 51Earth.com has attracted thousands of builders and developers. Based on the offer price of 30.50 Hong Kong dollars, the company estimates that it will receive a net amount of approximately 653 million Hong Kong dollars from the global offering (after deducting underwriting commissions and estimated expenses paid or to be paid for the global offering, assuming the over-allotment option is not exercised). According to the company's strategy, it plans to use the net proceeds from the global offering in the following manner: approximately 80.0% of the net proceeds are expected to be used for the company's research and development initiatives; approximately 10.0% of the net proceeds are expected to be used for marketing activities in China and overseas; and approximately 10.0% of the net proceeds are expected to be used for operating capital and general corporate purposes.