HK Stock Market Move | HQVT(01392) rose by more than 8%, and physics AI entered the accelerated development stage. The company's compound growth rate over the past three years is as high as 139%.

HQVT (01392) rose more than 8%, as of press time, it rose 8.09% to HK$18.97, with a turnover of HK$215.604 million. It is reported that HQVT, as the leading company in China's multispectral AI industry, and the number one in multispectral AI large model services, relies on a full-stack self-developed technology system, has built a complete closed loop from multispectral perception modules to end-to-end cloud collaboration solutions, with significant technological barriers. According to Frost & Sullivan data, HQVT currently holds a market share of 3.3% in the Chinese multispectral AI market, ranking first. In terms of finance, the company's revenue is expected to increase from 117 million yuan in 2023 to 669 million yuan in 2025, with a three-year compound annual growth rate of up to 138.9%, achieving a breakthrough in revenue scale; adjusted net profit turned positive in 2024 to 42.94 million yuan, further increasing to 55.25 million yuan in 2025, with a two-year compound annual profit growth rate of 28.6%. According to the Open Source Securities research report, as of June 2026, over $10 billion in funds have flowed into the physical AI field in the past 18 months, with major technology giants entering the race and financial capital betting heavily, potentially propelling physical AI into an accelerated development stage. The bank believes that the market space for physical AI has reached a vast stage, and recommends focusing on 3D simulation platforms related to world models and data collection, as well as real machine acquisition equipment, with beneficiaries including HQVT.