On May 27, Manycore Tech rose 6.92% in regular trading, trading at HK$21.0 per share, with trading volume of approximately HK$52.22 million, extending its recent strong momentum.

On the news front, the company's spatial intelligence large model has officially completed the national generative AI service filing, making it one of the first spatial AI large models in China to obtain compliance qualification. The model is the industry's first large model focused on 3D indoor scene cognition and generation. Additionally, Manycore Tech announced a strategic partnership with Insta360, combining Insta360's high-performance imaging hardware with Manycore's 3DGS spatial reconstruction capabilities to launch a next-generation spatial reconstruction solution.

Guotai Haitong Securities initiated coverage with an Overweight rating and a target price of HK$24.90, assigning a 40x PS valuation for 2026. The broker highlighted that the company has established a technology flywheel of spatial editing tools, spatial data, and spatial large models, with service coverage expanding from humans to robots and multiple industries including e-commerce, XR, and smart retail.

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