The new stock listing of WENGE AI (01956) commenced trading today. According to the company's announcement, the shares were priced at HK$60.7 each. A total of 14,834,600 shares were issued, with a board lot size of 200 shares. The net proceeds from the offering are approximately HK$827 million. At the time of writing, the stock is up 81.22%, trading at HK$110, with a turnover of HK$369 million.

The company's prospectus indicates that WENGE AI is an emerging enterprise-level artificial intelligence technology and service provider in China. It specializes in complex data analysis and AI-assisted decision-making, serving various organizations in China's technology-intensive sectors. The company aims to facilitate AI-enabled digital transformation in public services, media and communications, and commercial enterprises—areas crucial to socio-economic development.

According to CIC, the enterprise-level decision intelligence market driven by large models is currently a small but rapidly growing segment within China's enterprise AI industry. Based on revenue, WENGE AI ranked first among Chinese enterprise-level decision intelligence service providers driven by large models in 2024, holding an 11.4% market share.

Furthermore, the company ranked seventh in China's enterprise-level large model market in 2024, with a 2.4% market share. In this market, it primarily competes with major mainstream AI industry players in China.