Shares of HQVT (01392) surged more than 10% in the afternoon session. At the time of writing, the stock was up 10.02% to HK$17.79, with a turnover of HK$16.54 million.

Public information indicates that the company focuses on multi-band perceptual capabilities, including ultraviolet, infrared, and visible light. It has established a core technology system comprising three key areas: an integrated multi-spectral sensing and computing platform, lightweight edge-side AI computing, and a multi-spectral AI large model platform. This system is designed to continuously enhance multi-dimensional perception, real-time computing, and model inference capabilities in complex scenarios.

The company operates two primary production bases, located in Shenzhen and the Longyou Economic Development Zone in Zhejiang Province. Its SMT automated assembly line was initially installed and put into operation at the Shenzhen base in mid-2022. In April 2025, this line was relocated to the Zhejiang base. The Shenzhen facility now primarily handles subsequent production processes following the SMT assembly stage.

A research report noted that HQVT ranks first in the Chinese multi-spectral AI market based on projected 2025 revenue. As of the latest practicable date, the company holds 158 registered patents in China, including 101 invention patents, and possesses 46 software copyrights. The combination of hardware perception entry points, spectral data processing, and industry-specific models is seen as advantageous for forming a complete delivery capability from data acquisition to analytical services.

The report further highlighted that the number of large model service clients increased from 10 to 23 in 2025. The revenue contribution from this segment rose from 21.8% in 2024 to 53.1% in 2025, which has driven improvements in the company's overall gross margin and adjusted profit.