Manycore Tech Shares Surge in Hong Kong IPO Debut
Shares of Manycore Tech Inc posted a powerful rally on their Hong Kong debut Friday, as the Chinese spatial artificial intelligence company benefited from overwhelming investor demand during its initial public offering.
Stock Jumps Over 170% on First Trading Day
The company’s shares surged by as much as 171% compared to the IPO price on the first day of trading. By midday, the stock was still up حوالي 140%, trading at HK$18.40. Manycore had initially priced its shares at HK$7.62, offering approximately 160.6 million shares to investors.
IPO Raises $160 Million with Massive Oversubscription
Manycore successfully raised HK$1.22 billion (around $160 million) through its listing on the Hong Kong Stock Exchange. The offering saw exceptional demand, with subscriptions exceeding supply by roughly 1,591 times. The company is now trading under the ticker symbol 0068.
First Hangzhou Tech Unicorn to Go Public
The firm becomes the first among a new wave of prominent tech unicorns from Hangzhou to go public. Its debut adds to a growing list of major Chinese AI companies entering public markets this year.
Focus on AI Rendering and Spatial Data Technology
Manycore is best known for operating its design platform Kujiale. The company focuses on AI-powered rendering and 3D spatial data solutions, while also developing advanced tools for interior design and real-world space modeling.
Chinese AI Sector Sees Strong Valuation Growth
Chinese artificial intelligence startups have seen strong valuation gains in 2026, driven by rising optimism around the country’s role in the rapidly expanding AI sector. Companies such as Minimax and Zhipu, also known as Knowledge Atlas, have recorded gains of 147% and 566% respectively following their Hong Kong IPO debuts earlier this year.
