Overview
- HKEX disclosures show Insilico Medicine, 51WORLD, Xunce, Meilian, Woan Robotics and Forest Cabin launched offerings and are slated to debut on Dec. 30.
- Digital‑twin firm 51WORLD began subscriptions through Dec. 23, offering 23,975,200 H‑shares at HKD 30.5 to raise about HKD 731 million, with a 15% overallotment that could lift proceeds to HKD 841 million.
- 51WORLD pitches a full‑chain Physical AI stack spanning synthetic data, spatial intelligence models and simulation platforms, and reports commercial deployments across 19 countries and regions.
- Large‑model developer Zhipu filed its Hong Kong prospectus, citing revenue of RMB 57.4 million in 2022, RMB 124.5 million in 2023, RMB 312.4 million in 2024 and RMB 190 million in the first half of 2025.
- Morgan Stanley projects the chip upcycle to extend into 2026 and names Nvidia, Broadcom and Astera Labs as top picks, while China’s 2025 game industry report shows record RMB 3507.89 billion revenue and Shanghai announces annual RMB 50 million esports support.