HK Stock Market Move | MANYCORE TECH (00068) rose more than 8%, the company is gradually becoming a leading provider of smart space infrastructure. Guotai Haitong has given a target price of HK$24.9.

MANYCORE TECH (00068) rose more than 8%, up 8.4% as of the time of publication, at 18.71 Hong Kong dollars, with a turnover of 167 million Hong Kong dollars. On the news front, Guotai Haitong pointed out that the company is a leader in the design of cloud-native spatial software, driving spatial intelligence innovation with dedicated GPU clusters and Beijing Vastdata Technology. The company currently has over 500 million 3D spatial scenes and over 440 million 3D models. Based on massive spatial data, the company has trained a series of many-core spatial models to support the functionality and experience of all the company's products. In this way, MANYCORE TECH has formed a spatial intelligence flywheel of "spatial editing tools - spatial data - spatial large models." The company's services have expanded from individuals to machines, with business covering industries such as intelligentization and Siasun Robot & Automation, e-commerce, XR, entertainment, and chain commercial operations. The bank initiated coverage with a "hold" rating and a target price of 24.90 Hong Kong dollars. It is worth mentioning that on May 22nd, the National Development and Reform Commission held a press conference. At the meeting, Li Chao, deputy director of the Policy Research Office of the National Development and Reform Commission, stated that the NDRC is planning to introduce supporting documents to accelerate the implementation of artificial intelligence and further enhance factor protection. At the same time, we will continue to promote the openness of central state-owned enterprises to high-value application scenarios, creating benchmark applications of artificial intelligence for various industries, sectors, and regions, and accelerate the integration of AI into various aspects and links of business management.