First Day of IPO | Transwarp Technology (06727) Debuts on First Day, Opens Flat in Morning Trading; Company Is China's Fifth-Largest AI Infrastructure Software Provider

Transwarp Technology (06727) made its trading debut. According to the announcement, the offer price was HK$49.00 per share, with a total of 14,010,800 shares issued, one board lot of 100 shares, and net proceeds of approximately HK$629 million. As of press time, the stock was flat, quoted at HK$49, with a turnover of HK$89.6805 million. According to the prospectus, the company is a leading AI infrastructure software provider in China. The company primarily generates revenue by selling AI and big data infrastructure software products and related services to enterprise and government customers. Through deep integration of artificial intelligence, big data and cloud technologies, the company helps enterprises efficiently build AI infrastructure software, driving intelligent transformation and business model innovation across industries. According to Frost & Sullivan, the company is China's fifth-largest AI infrastructure software provider by revenue, with a market share of 2.7% in 2025. The company is the world's first database company to pass the TPC-DS test and official audit, demonstrating that its distributed architecture-based foundational software has reached industry-leading levels in large-scale data computing and analysis.