Manycore Tech Inc. (00068.HK) has launched its Hong Kong IPO, with a subscription period from April 9 to April 14, 2026. The company plans a global offering of approximately 160,619,000 shares, with a 15% over-allotment option. The offer price range is HK$6.72–7.62 per share, with a lot size of 500 shares and an estimated minimum subscription cost of HK$3,848.43. The shares are expected to be listed on the Main Board of the Hong Kong Stock Exchange on April 17, with J.P. Morgan and BOCI serving as joint sponsors.

Manycore Tech: China’s Largest Spatial Design Software Provider

Offering Allocation: Approximately 10% for the Hong Kong public (16,062,000 shares) and 90% for international placement (144,557,000 shares).

Offer Price: HK$6.72–7.62 per share; lot size: 500 shares; estimated minimum subscription cost: HK$3,848.43.

Subscription Period: April 9–14, 2026 (pricing expected on April 15).

Listing Date: April 17, 2026.

IPO Joint Sponsors: J.P. Morgan and BOCI.

Company Overview

Manycore Tech is China’s leading cloud-native spatial design software provider. Its core product, “Coohom,” is widely applied in residential, office, retail, and commercial projects. Leveraging AI technology and dedicated GPU clusters, the company enables real-time rendering and automated production. According to Frost & Sullivan, Manycore Tech was the largest spatial design software provider in China by revenue in 2024, with an estimated market share of approximately 23.2%. The company also expands internationally through its global version “Coohom,” targeting markets such as South Korea, Southeast Asia, the United States, and Japan, and has introduced spatial intelligence solutions such as SpatialVerse.

Financial Information

According to the prospectus, Manycore Tech recorded revenues of approximately RMB 664 million, 755 million, and 820 million for 2023–2025, respectively. Net losses for the same periods were approximately RMB 646 million, 513 million, and 428 million, respectively. Adjusted net (loss)/profit (non-IFRS) was approximately RMB -242 million, -70 million, and 57 million, respectively. Based on the midpoint of the offer price at HK$7.17 per share, assuming the over-allotment option is not exercised, the company expects to raise net proceeds of approximately HK$1.024 billion. The funds are intended to be used as follows: approximately 30% for international expansion, 20% to enhance existing products and launch new products, 20% to support domestic sales and marketing, 20% to invest in core technology and infrastructure, and 10% for working capital and general corporate purposes.

uSMART launches “HK IPO Fee-Waiver Offer” – subscribe to new shares at zero cost

Margin subscription: 0 % interest, leverage up to 10×

Cash subscription: HK$0 handling fee

Grey-market trading supported

* 0 % interest applies to margin subscription amounts of HK$20 million or below.

^ All handling fees are waived for cash subscriptions.

This promotion is effective from 5 December 2025 until further notice. Certain high-profile IPOs may be excluded. The actual interest rates and fees charged are those shown in the uSMART App subscription interface; statutory government and exchange levies will still apply. The company reserves the right to amend, suspend or terminate the above offer or its terms and conditions at any time without prior notice, and its interpretation shall be final.

How to Subscribe for Manycore Tech via uSMART HK

The uSMART HK App features an IPO Centre with exclusive perks, allowing clients to subscribe instantly to public offerings. After logging into the app, tap "Trade" at the bottom-right, go to "IPO Subscription," select Manycore Tech, tap "Public Offer," enter your subscription quantity, and submit your order.

(Image source: uSMART HK App)