New IPO News | "Visual Intelligence Technology Company" Raybo Tech has launched its IPO, targeting a listing on July 8, with a minimum subscription amount of HK$4,375.69 per lot.
Futu News, June 29:$RECONOVA (07656.HK)$An announcement was issued stating that the company will conduct its public offering from June 29 to July 3, planning a global offering of approximately 28.087 million shares, with an expected listing date of July 8.
Company Overview
The company is an AI firm providing visual intelligence technologies and products to enterprise clients. Leveraging its self-developed large vision models, deep learning technologies, multispectral imaging capabilities, and co-design expertise in software and hardware, it offers a suite of intelligent products for visual perception, cognition, and reasoning, which are deeply integrated into diverse scenarios such as civil aviation, commercial spaces, and safe driving.
According to Frost & Sullivan, based on revenue in 2025, the company ranks first in China's civil aviation enterprise visual intelligence product market with a market share of 8.7%, and fourth in China's commercial space enterprise visual intelligence product market with a market share of 1.7%.
Financial Summary
The company's revenue increased from RMB 242.4 million in 2023 to RMB 395.2 million in 2024, and further rose to RMB 443.0 million in 2025, representing a compound annual growth rate (CAGR) of 35.2% from 2023 to 2025. Gross profit grew from RMB 98.8 million in 2023 to RMB 157.2 million in 2024, reaching RMB 167.1 million in 2025, with gross margin fluctuating between 40.8% in 2023 and 37.7% in 2025. The company reported net losses of RMB 32.6 million in 2023 and RMB 68.1 million in 2025, and net profit of RMB 8.3 million in 2024.
Use of Proceeds
Regarding the use of proceeds, Reallin Technology expects the net proceeds from the global offering to amount to approximately HK$529.1 million (calculated based on an issue price of HK$21.66 per share, assuming the over-allotment option is not exercised). According to the prospectus, Reallin Technology intends to allocate the proceeds from the global offering as follows:
Approximately 55.8% will be used to enhance the company's research and development capabilities and strengthen its product offerings over the next five years; approximately 26.3% will be allocated to establishing a manufacturing base to support hardware production for the smart civil aviation segment; approximately 10.4% will be used to bolster business development and marketing capabilities and expand overseas sales channels; and approximately 7.5% will be used for working capital and general corporate purposes.
Further reading:Reallin Technology Prospectus
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Editor/Vincent
Risk Disclaimer: The above content only represents the author's view. It does not represent any position or investment advice of Futu. Futu makes no representation or warranty.Read more
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