Shares of AI technology and services provider Beijing Zhongke WengeAI Science and Technology Co. Ltd. (1956.HK) opened higher in their Hong Kong trading debut on Friday, then rose some more during the morning to close at HK$113.80 by the midday break, up 87.48%.
The company sold 14.8 million shares for HK$60.70 each, raising net proceeds of about HK$826.9 million ($105 million). Its Hong Kong public offering for local investors was nearly 6,000 times subscribed, while the international offering was nearly 20 times subscribed.
Zhongke Wenge is an enterprise AI technology and services provider focused on complex data analysis and AI-assisted decision-making. Its core product is DIOS, a decision intelligence operating system, and its customers mainly come from the public services, media and communications and commercial sectors. In 2025, the company recorded revenue of about 405 million yuan ($60 million), up around 27.5% year-on-year, while it lost about 166 million yuan for the period.
The company said it plans to use the IPO proceeds to enhance its foundation models and core R&D capabilities, expand product services and brand building, broaden its cross-industry customer coverage, pursue potential investments, acquisitions and overseas expansion and replenish its working capital.
By Lee Shih Ta
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