Manycore Tech, a Hangzhou-based spatial intelligence company, has launched its global offering and plans to list on the Hong Kong Stock Exchange on April 17 under the stock code 0068.

According to its filing, the company plans to offer about 161 million shares globally, with a maximum offer price of HK$7.62 (97 cents) per share, raising to HK$1.227 billion. The Hong Kong public offering accounts for about 10 percent of the shares, with the remainder allocated to international investors.

The company operates products including the KuJiale design platform and its overseas version Coohom, as well as SpatialVerse, a next-generation spatial intelligence solution for AI development in indoor environments.

Manycore Tech reported a turnaround to profitability in 2025, posting an adjusted net profit of 57.1 million yuan ($8.53 million). Its overseas revenue also rose 28 percent year-on-year.

Net proceeds from the IPO will be used mainly for international expansion, upgrading existing products and launching new features, investing in core technologies and infrastructure, supporting domestic sales and marketing, and general corporate purposes.

The listing will mark a milestone for the Hangzhou company as it enters the capital market after building its business in spatial design and AI applications.