Shangmi Technology (06810) soared over 300% on its first day of trading, poised to become the "first stock of AI commercial IoT".

Today (April 29), "AI Commercial IoT first stock" Sunmi Technology (06810) officially listed on the main board of the Hong Kong Stock Exchange. On the first day of listing, the stock soared to a high of 99.80 Hong Kong dollars at one point, with an increase of 301.45%, and ultimately closed up 241.11%, with a turnover of 1.092 billion Hong Kong dollars. The Hong Kong stock IPO has received enthusiastic response from the capital market, with the public offering in Hong Kong receiving 2003.16 times oversubscription. Sunmi Technology is currently the world's largest BIoT solution provider, with the largest enterprise-level application market in the world, providing real-time services to developers and merchants in more than 200 countries and regions worldwide, driving comprehensive digitization of the physical world. Sunmi Technology continues to focus on end-cloud integrated capabilities and interconnected commercial data, and has pioneered the development and launch of the industry's first AI programming tool - Sunmi Big Program, helping global developers efficiently build, manage, and upgrade intelligent devices for offline businesses, providing more efficient and intelligent digital solutions. Sunmi Technology has created a closed-loop model of "smart hardware + SUNMI OS operating system + BIoT PaaS platform", establishing the most active developer ecosystem in the global commercial scenario, attracting approximately 42,000 developers, supporting more than 33,300 downloadable applications, and having 66,000 global ecosystem partners. In China, the company has achieved over 70% coverage of the top 100 catering brands and over 60% coverage of the top 100 chain stores. Financially, the company's revenue has shown a steady growth trend. From 2023 to 2025, the company's revenue will be 3.071 billion yuan, 3.456 billion yuan, and 3.812 billion yuan respectively, with a compound annual growth rate exceeding 10%. Profitability has also been significantly optimized, with the gross profit margin climbing from 26.7% in 2023 to 28.9% in 2024, and further jumping to 31.3% in 2025. With a solid leading position, stable fundamentals, continuously optimized financial performance, and global business IoT and physical AI core targets, Sunmi Technology's investment value is expected to receive sustained attention from the capital market with this Hong Kong listing.