Physical AI, the first stock of Weyland Tech (06651), officially listed on the Hong Kong Stock Exchange!

On the morning of December 30th, 9:30 am, Beijing 51World Digital Twins Technology Co., Ltd. (hereinafter referred to as "51World") listed on the Main Board of the Hong Kong Stock Exchange with the stock code "06651", becoming the first Chinese Physical AI company to go public in the capital market, and also the final listing of the year for 18C special technology companies on the Hong Kong Stock Exchange. In this IPO, 51World issued a total of 23,975,200 shares, raising a total of HK$731 million. Among them, the Hong Kong public offering was oversubscribed by 258 times, and international placements were actively subscribed to by long-term funds, hedge funds, strategic investors, and other types of investors from home and abroad. Today's opening price for 51World's shares reached HK$35, up 14.75% from the issue price, with a market value exceeding HK$14 billion. Successfully entering the capital market not only marks a key milestone for 51World's development, but also signifies that the Chinese Physical AI industry is officially entering a new stage of capitalization. Founded in February 2015, 51World is a technology company dedicated to cloning the 5.1 billion square kilometers of Earth. The company has made significant investments in and developed core competencies in the three major areas of 3D graphics, simulation, and artificial intelligence, and has launched three core businesses: 51Aes (Digital Twin Platform), 51Sim (Smart Driving Simulation Platform), and 51Earth (Digital Earth Platform). Its products are widely used by over a thousand large and medium-sized enterprises worldwide, with business coverage in 19 countries and regions. After a decade of technological accumulation, 51World has built a full-chain Physical AI closed-loop ecosystem of "synthetic data - spatial intelligent model - simulation training platform", becoming one of the few companies in the world that truly possess the three elements of Physical AI, and has landed benchmark cases of Physical AI in intelligent driving, transportation hubs, smart factories, smart energy, and other fields. In terms of performance, in the past six months of 2022, 2023, 2024, and the first half of 2025, 51World's operating income was RMB 170 million, 256 million, 287 million, and 54 million respectively. From 2022 to 2024, the company's revenue compound annual growth rate reached 30.02%, with a year-on-year revenue growth of 62.04% in the first half of 2025. The corresponding net losses were RMB 190 million, 87 million, 79 million, and 94 million respectively, and the corresponding adjusted net losses were RMB 132 million, 68 million, 43 million, and 67 million respectively. 51World has a strong lineup of investors, including well-known funds like Lightspeed, Cloud Nine, Star VC, Xindao Investment, industrial investors like MoerThread, and commercial AI companies like SenseTime. In addition, 51World has also attracted investments from well-known individuals like Ge Wei Dong and Liang Botao. Industry experts believe that from perceptual AI to generative AI, and now to current agentive AI, the next wave of AI will be "Physical AI", which will become a new growth point in the market for the next ten years. The successful listing of 51World will have a significant demonstration effect, attracting more capital and talent to accelerate technological innovation and application landing in the field of Physical AI in China, and promote the formation of a complete domestic ecological system, with the potential to build China's unique advantages in the global AI competition.