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Futu News, February 5th report,$HAIZHI TECH GP (02706.HK)$Announcement issued: The company will conduct its IPO from February 5 to February 10 and plans to offer approximately 28,030,200 shares globally, with an expected listing date of February 13.

Company Overview
Ocean Intelligence Technology is a leading enterprise in China's graph computing and graph database sector, focusing on developing Atlas graph solutions and industry-level intelligent agents through graph-model fusion technology, while providing industrial artificial intelligence solutions. The Atlas graph solution is one of the core products during the company’s performance record period, built on its industry-leading graph computing and data analysis capabilities. It includes the DMC Data Intelligence Platform, the Atlas Knowledge Graph Platform, and the AtlasGraph Graph Database.
These solutions enable enterprises to efficiently integrate, process, and manage data from multiple sources, construct and analyze knowledge graphs, and perform complex relationship mining and visualization analysis. Atlas intelligent agents are developed based on the company's graph-model fusion technology, combining the reasoning capabilities of large language models with the accuracy and explainability of knowledge graphs, empowering businesses to achieve intelligent automation, scenario-based reasoning, and natural language interaction.
Financial Overview
Revenue increased by 20.0% from RMB 313.0 million in 2022 to RMB 375.6 million in 2023 and is projected to further grow by 34.0% to RMB 503.1 million in 2024. The company's gross margin rose from 30.91% in 2022 to 35.2% in 2023 and further increased to 36.3% in 2024. Total revenue grew by 17.6% from RMB 211.8 million for the nine months ended September 30, 2024, to RMB 249.1 million for the same period in 2025. The company's gross margin increased from 28.4% for the nine months ended September 30, 2024, to 39.7% for the same period in 2025.

Use of Proceeds
In terms of use of proceeds, HaiZhi Technology is expected to receive net proceeds of approximately HKD 648.4 million from the global offering (assuming the over-allotment option is not exercised and based on the mid-range offer price of HKD 26.8). According to the prospectus, HaiZhi Technology intends to allocate the proceeds from the global offering for the following purposes in the specified amounts:
Approximately 45.0% will be used for research and development to enhance graph-model fusion technology, around 20.0% will be allocated to optimize the Atlas intelligent agent, about 15.0% will be dedicated to deepening cooperation with clients, exploring new application scenarios, and expanding into the Hong Kong and Singapore markets, roughly 10.0% will be earmarked for strategic investments, mergers, and acquisitions, and approximately 10.0% will be utilized for working capital and general corporate purposes.
More reading:Horizon Technology Prospectus
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Editor/Vincent
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