Shenzhen Intellifusion Technologies Co., Ltd. has submitted an application for a main board listing on the Hong Kong Stock Exchange. The company, a prominent Chinese artificial intelligence firm, focuses on the research, design, and commercialization of AI inference chips. Its offerings include sales of AI inference chips to enterprise clients, computing power services utilizing its proprietary chips and Nova NPU IP, IP licensing services, consumer-grade products, and industry-specific integrated software and hardware solutions powered by its IFMind large model for visual analysis and inference.
The company integrates its deep understanding of AI algorithms and practical application scenarios to create powerful, cost-effective AI inference solutions. It has established a complete ecosystem covering AI inference infrastructure, product design, development, and commercial deployment, enabling rapid adaptation across diverse AI scenarios. Its business is segmented into three main areas.
In the enterprise sector, Intellifusion provides AI inference chips, related products, computing services, and IP licensing, primarily applied in SoC development, large model services, and service robotics. For the consumer market, it develops and supplies AI-native products directly for end-users, such as the Dr. Looka AI learning camera, AI glasses, AI pet dog chips, and home hub device chips—all emerging product categories driven by advancements in AI technology. Recognizing that AI and large models will redefine smart devices, the company uses its IFMind inference capabilities to supply modules to enterprise clients, who then integrate them into consumer electronics and wearables like AI earphones and smartwatches.
For industry applications, leveraging the IFMind large model, Nova, and AI inference chips, Intellifusion has developed integrated solutions for smart public transport, urban governance, industrial parks, and emergency management, addressing complex real-world challenges with specialized products and robust AI capabilities. The company launched computing power services in April 2023 and plans to expand its enterprise offerings by providing high-performance computing for robotics, autonomous vehicles, drones, and smart transportation at the edge; extending chip applications in smart devices at the terminal level; and deploying large-scale heterogeneous computing clusters powered by IFMind and its AI chips in the cloud.
According to a CIC report, Intellifusion ranks among the top three providers of full-scenario AI inference chip-related products and services in China by 2025 revenue. It also holds a top-three position in the NPU-driven AI inference chip segment. Both the broader full-scenario AI inference market and the NPU-driven subset in China are oligopolistic, with leading players holding approximately 34.0% and 82.2% market share, respectively, while the remainder is highly fragmented.
Financially, Intellifusion reported revenues of approximately RMB 506 million, RMB 917 million, and RMB 1.339 billion for 2023, 2024, and 2025, respectively. Gross profits for the same periods were about RMB 119 million, RMB 192 million, and RMB 368 million. R&D expenditures were RMB 295 million, RMB 400 million, and RMB 445 million, accounting for 58.3%, 43.6%, and 33.3% of total revenue. The company has invested heavily in R&D through talent retention and project initiatives and plans to continue significant R&D investment as a cornerstone of its future success.