HQVT Technology lists on HK Stock Exchange

Shenzhen HQVT Technology Co. Ltd. debuted on the main board of the Hong Kong Stock Exchange on June 22, becoming the sixth company in Bao’an District to go public in 2026 and bringing the total number of Bao’an enterprises listed at home and abroad to 90.

Recognized as the first public company in the multispectral AI sector, the tech firm’s listing also marked a significant addition to Bao’an’s advanced manufacturing and artificial intelligence (AI) clusters.

Shenzhen HQVT Technology Co. Ltd. debuts on the main board of the Hong Kong Stock Exchange on June 22.

Founded in 2013, HQVT Technology is a national high-tech enterprise and a national-level “little Giant” enterprise specializing in multispectral intelligent sensing. The company has established a comprehensive, self-developed R&D system that integrates optical sensing, image processing, and edge computing. The system allows the firm to bypass the industry's common reliance on external open-source frameworks and cloud computing, enabling full-scenario intelligent monitoring without relying on cloud servers. Its proprietary large model was among the first to be included in Guangdong’s AI industry directory and achieved large-scale commercial application in 2024, providing early safety warnings for high-value industries.

The company’s technical leadership is supported by 158 intellectual property rights, including 101 core invention patents and 46 software copyrights. With an R&D team of 156 engineers accounting for over 43% of its workforce, HQVT Technology has taken a leading role in drafting nearly 10 national standards for the security field. According to Frost & Sullivan, HQVT ranked first in China’s multispectral AI market by revenue in 2025, as well as first in the multispectral AI large-model service segment.

The global multispectral sensing market is projected to grow from 85 billion yuan (US$12.50 billion) in 2025 to over 305 billion yuan by 2030, offering the company vast room for expansion across its 2,500 global clients in Southeast Asia, Europe, and the Middle East.

Financial data show that the Bao’an company underwent explosive growth between 2023 and 2025, with revenue surging from 117 million yuan to 669 million yuan — a compound annual growth rate of 138.9%. Its profitability has also climbed steadily, with adjusted net profits reaching 55 million yuan in 2025. The company’s gross profit margin improved from 12.2% to 22.3% during this period, driven by a strategic shift toward high-end products. Its multispectral AI large model services now account for 53.1% of its total revenue, becoming the primary driver of its business growth and operational quality.

The rise of HQVT serves as a compelling example of Bao’an’s robust ecosystem for nurturing high-quality tech enterprises. As a major industrial powerhouse in Shenzhen, Bao’an is home to over 59,000 manufacturing firms, 5,600 industrial enterprises above designated size, and more than 360 national “little giant” enterprises. The district has over 50 companies currently in the IPO pipeline and hundreds more recognized as high-potential reserves.