HK Stock Market Move | HQVT (01392) surges over 17%, multispectral AI enters a phase of large-scale volume growth, Frost & Sullivan highlights full-chain delivery capability.

HQVT (01392) opened higher and fluctuated upward today, surging over 17% intraday to touch HK$33.34, a new listing high, with a cumulative gain of over 60% in the past three trading days. As of press time, it rose nearly 14% to HK$31.46, with a turnover of HK$74.7787 million. On the news front, Frost & Sullivan released the "2026 Multispectral AI Industry Development White Paper" on September 14, pointing out that China's multispectral AI industry is moving from commercialization validation to large-scale volume growth. In 2025, China's multispectral AI market size was approximately RMB 20 billion, with a compound annual growth rate of about 31.8% from 2025 to 2030. HQVT possesses full-chain delivery capability encompassing "modules + terminals + industry large models." Midstream integration and algorithm vendors are gradually building a closed-loop capability of "datamodelsproductsscenarios," and the industry's competitive focus is evolving from single hardware products to comprehensive scenario understanding and continuous service capability. It is worth noting that as a rare multispectral physical AI enterprise in the Hong Kong stock market that has already achieved commercialized implementation, HQVT recently delivered its first impressive interim report after listing. In the first half of this year, the company achieved total revenue of RMB 410 million, a year-on-year increase of 84.5%; excluding one-off listing expenses, adjusted net profit was RMB 27.6 million, a year-on-year increase of 21.9%. Among this, multispectral AI large model service revenue surged to RMB 320 million, a year-on-year increase of 382.5%, with its revenue share jumping directly from 29.8% to 78%, becoming the absolute main engine of growth.