Manycore Tech Inc's Hong Kong IPO raised HK$1.22 billion, pricing 160.6 million shares at HK$7.62 each.
The offering was oversubscribed 1,591 times, making the stock rally up to 171% on debut, trading at HK$18.40 midday.
Manycore, a Hangzhou AI unicorn operating Kujiale platform for 3D rendering and interior design tools, joins recent Chinese AI IPO wave.
Peers Minimax and Zhipu saw post‑IPO gains of 147% and 566% respectively, underscoring strong market appetite for AI stocks.