New stock news | Extreme Vision submits application to Hong Kong Stock Exchange as provider of AI computer vision solutions for enterprises

According to the disclosure of the Hong Kong Stock Exchange on January 20, Shandong Extreme Vision Technology Co., Ltd. (referred to as "Extreme Vision") has submitted an application for listing on the Main Board of the Hong Kong Stock Exchange, with CITIC SEC being its exclusive sponsor. Company Profile The prospectus shows that Extreme Vision Technology is a provider of AI computer vision solutions in China, providing end-to-end solution development, deployment, and management services to enterprises in various industries. According to Frost & Sullivan data, the company ranks eighth in the emerging enterprise-level computer vision solution market in China by revenue in 2024. The company focuses on providing AI computer vision solutions and large model solutions to enterprises: AI computer vision solutions. The company provides standard AI computer vision solutions, custom AI computer vision solutions, and software-defined integrated AI solutions. Large model solutions. The company adjusts general large models to meet the diverse needs of customers by combining industry and operational knowledge of customers. The company uses advanced technologies such as multi-agent optimization, RAG, and scenario-based algorithms to provide customized large model solutions designed for professional use by enterprises. The company provides solutions to customers in various vertical business areas such as industrial, energy, retail, and transportation. During the reporting period, the company's customers mainly came from China, including enterprises, governments, and universities. During each period of the reporting period, the revenue generated by the top five customers was RMB 42.6 million, RMB 80.7 million, RMB 1.23 billion, and RMB 41.6 million respectively, accounting for 42.1%, 63.0%, 48.1%, and 30.5% of the company's total revenue. In addition, some customers among the top five customers in each period of the reporting period also served as suppliers to the company, and vice versa. The company's operating performance is significantly impacted by major seasonal fluctuations. During the reporting period, revenue generated in the second half of the year accounted for an average of 75% to 90% of annual revenue. Financial Information Revenue For the nine months ended September 30 in 2022, 2023, 2024, and 2025, the company's revenue was approximately RMB 102 million, RMB 128 million, RMB 257 million, and RMB 136 million respectively. Profit For the nine months ended September 30 in 2022, 2023, 2024, and 2025, the company's annual/period profits were approximately -RMB 60.72 million, -RMB 56.25 million, RMB 8.708 million, and -RMB 36.296 million respectively. Gross Profit Margin For the nine months ended September 30 in 2022, 2023, 2024, and 2025, the company's gross profit margins were 30.6%, 25.9%, 40.2%, and 44.9% respectively. Industry Overview Market Size of China's Enterprise-level Computer Vision Solutions From 2020 to 2024, driven by policy support, increasing downstream demand, and diversification of applications, the market size of China's enterprise-level computer vision solutions experienced significant growth, increasing from RMB 10.7 billion in 2020 to RMB 36.8 billion in 2024, with a compound annual growth rate of 36.2%. It is expected that by 2029, enterprise-level computer vision solutions will further penetrate various industries, and the market size of China's enterprise-level computer vision solutions will continue to rise, reaching RMB 182.4 billion, with a compound annual growth rate of 37.7%. Market Size of China's Emerging Enterprise-level Computer Vision Solutions In recent years, as enterprise-level computer vision solution technology has continued to mature and new application scenarios continue to emerge, coupled with decreasing computing costs, it has provided strong support for commercialization. From 2020 to 2024, the market size of China's emerging enterprise-level computer vision solutions experienced significant growth, increasing from RMB 2.2 billion in 2020 to RMB 11.1 billion in 2024, with a compound annual growth rate of 49.9%. It is expected that by 2029, the application of emerging enterprise-level computer vision solutions will become more diversified, and the market size of China's emerging enterprise-level computer vision solutions will reach RMB 97 billion, with a compound annual growth rate of 54.3%, and its penetration rate in the overall enterprise-level computer vision solution market will further increase to 53.2%. Competitive Landscape There are many participants in the market for China's emerging enterprise-level computer vision solutions, and the competitive landscape is relatively fragmented. Based on the sales revenue of China's emerging enterprise-level computer vision solutions, the market concentration of the top ten participants in the market in 2024 was approximately 47.9%. Market Ranking of China's Emerging Enterprise-level Computer Vision Solutions Based on the sales revenue of China's emerging enterprise-level computer vision solutions in 2024, the company ranked eighth among all market participants, with a market share of 1.6%. Additionally, according to the same criteria, the company is the third-largest software-centric provider in the market for China's emerging enterprise-level computer vision solutions. Board of Directors Information The board of directors of the company consists of 7 directors, including 3 executive directors and 4 independent non-executive directors. Equity Structure As of January 15, 2026, according to a joint action agreement, Mr. Chen, Ms. Luo, and Hengqin Extreme Power (collectively the largest shareholder group) are able to exercise approximately 29.84% of the company's voting rights. Intermediary Team Exclusive Sponsor: CITIC SEC (Hong Kong) Limited Company Legal Advisor: Regarding Hong Kong laws and U.S. laws: Jia Yuan Law Firm; Regarding Chinese laws: Jia Yuan Law Firm in Beijing Legal Advisor to the Exclusive Sponsor: Regarding Hong Kong laws: Norton Rose Fulbright Hong Kong; Regarding Chinese laws: Haiwen Law Firm Reporting Accountant: Ernst & Young LLP Industry Consultant: Frost & Sullivan Compliance Advisor: Chuan Sheng Financing Limited