Blow up the whole venue! Datasea-B (02526) surged over 110% in the dark market. The leading medical AI large model sets sail!
The Hong Kong stock "Medical Imaging Large Model Platform First Stock" Dex-B (02526), which is scheduled to be listed next Monday (March 30), performed prominently in the grey market trading on March 27, with the stock price soaring significantly. The highest price in the grey market surged to 208 Hong Kong dollars, a staggering increase of over 110%.
The Hong Kong stock "Medical Imaging Large Model Platform First Stock" Dex-AG (02526), which is scheduled to be listed on Monday (March 30), performed impressively in the gray market trading on March 27, with a significant increase in share price, reaching a high of 208 Hong Kong dollars, a surge of over 110%. Throughout the gray market, the stock opened high and continued to rise, with funds eagerly buying without giving any opportunity for a pullback, declaring its strength as the "first stock of medical AI large model" with a strong momentum: "Deximi" large model top three will have a doubling trend! As of the report, according to Lefmore Securities data, Dex-B's gray market quotation reached 196.2 Hong Kong dollars, up by 98.18% from the IPO price of 99 Hong Kong dollars, with 50 shares per hand, without considering transaction fees, earning 4860 Hong Kong dollars per hand.
Since 2026, the AI base large model track has continued to show an independent trend, with Dexi Biotechnology relying on its core medical imaging large model platform becoming one of the few new stocks with the characteristic of "market dream rate" in this cycle. The so-called "market dream rate" is not a traditional valuation indicator, but the ultimate expectations of the market for the future growth potential of the company. Even if it has not yet achieved profitability, as long as the track is high-quality enough and the technology has barriers, it can obtain a valuation premium far exceeding the industry average.
Dexi Biotechnology has deeply cultivated the medical imaging large model platform track, launching the iMedImage medical imaging general large model in 2025, creating the world's first trillion-parameter cross-modal medical imaging base model. In simple terms, this model breaks through the limitations of traditional medical imaging AI single modality, covering 19 medical imaging modalities such as CT, MRI, ultrasound, pathology, chromosome, etc., more than 90% of clinical medical imaging scenarios, changing the industry from scratch traditional mode of development. With a trillion-parameter scale, this model has become the world's largest general medical imaging base model.
The company's prospectus shows that in the first 9 months of 2025, the company's revenue increased by 469.8% to 112 million yuan, and the gross profit margin reached 75.9%, with the gross profit margin of the technical license business reaching 96.5%, becoming the core engine of revenue growth. By September 2025, the company's products had been deployed in more than 400 medical institutions nationwide, with a usage rate of 40% in the top ten hospitals in China (such as Peking Union Medical College Hospital and Zhongshan Hospital affiliated to Fudan University).
In the Hong Kong stock market, the previously listed large model leader MiniMax and KNOWLEDGE ATLAS have continued to rise in share price, validating the market's willingness to pay a premium for native large models with hundreds of times of P/S (price-to-sales ratio). The historical trend has strongly verified: the heat of over a thousand times oversubscription + doubling in the gray market + scarce leader, multiple buffs at full capacity, the first day of IPO on March 30 (Monday) is expected to steadily rise, with a high probability of experiencing a unique rising trend of "Deximi".
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