IPO News | 51WORLD reports that the Hong Kong Stock Exchange ranked first in revenue in the digital twin industry in 2024

The Zhitong Finance App learned that according to the Hong Kong Stock Exchange's disclosure on December 2, Beijing Wuyi Vision Digital Twin Technology Co., Ltd. (51WORLD) submitted the Hong Kong Stock Exchange main board, with CICC and Huatai International as co-sponsors.

According to the prospectus, 51WORLD is a digital twin technology company based in China. The company has invested heavily in technology and developed core competitiveness in the three fields of 3D graphics, simulation, and artificial intelligence.

Digital twin technology is a technology that uses 3D graphics, simulation, and AI to generate high-accuracy virtual replicas of physical objects or systems (such as urban buildings or vehicles). This virtual model can reflect real-world counterparts in detail, enabling users to observe, analyze, and predict their behavior and changes over time. Digital twins are used in various fields to simulate and plan scenarios affecting the actual environment, such as urban development, traffic management, and emergency response strategies. The company mainly provides digital twin solutions for businesses of all sizes and industries. The company's industry solutions cover more than ten areas such as cities, water conservation, energy, automotive, transportation, robotics, entertainment, and social media. The company's suppliers mainly include hardware vendors (such as all-in-one machines and special equipment) and software vendors (such as scene design, art rendering, and digital model modeling).

The company's goal is to provide ecosystem partners, including enterprises, consumers, and developers, with solutions to access and build digital twins, and cooperate with them to create a digital twin universe, ultimately making the real world more efficient, safe and beautiful, and providing people with new perspectives and technologies to understand and improve the company's world. The company was founded in February 2015. Based on the significant increase in the amount of information data and the rapid advancement of information carriers, the company's founders observed that real-time 3D will become the most effective way to interact with information after text, images, and video, and is also an inevitable result of the development of the information age. At the time, real-time 3D was mainly used in the field of games to immerse users in a kind of entertainment interaction in a virtual world. As technology continues to advance and focus on industry applications, the company chose to expand the scope of real-time 3D capabilities to a wider range of applications.

The company aims to establish a 1:1 digital twin scenario with the real world, and ultimately improve the efficiency, safety and quality of the real world. The company has always viewed this initiative as a driver of growth and innovation. With a keen judgment and deep understanding of the industry, the company believes that creating a digital twin Earth can be disassembled into five elements (i.e. buildings, roads, vegetation, water and terrain) and five stages (i.e. static world (2015 to 2017), dynamic world (2017 to 2020), semi-simulated world (2020 to 2023), fully simulated world (2023 to 2026), and digital twin world (2026 to 2030).

So far, the company has entered the fourth phase, implemented real-time generation and rendering technology for the entire Earth (L1 city-level accuracy), and successfully commercialized the modeling technology that can generate one city in a day and related to the company's core business (the company has successfully demonstrated that it can generate one city per day during the track record period). The company aims to complete the fifth phase by 2030 to solve real-world problems in the fields of transportation, AI training, spatio-temporal immersion, safety warning, climate prediction, energy, etc. Based on the company's vision, the company has set a clear development path and achieved several milestones through continuous technological breakthroughs, product iterations and scenario extensions:

According to Frost & Sullivan, the company is a well-known technology company in the digital twin industry in China, ranking first in the following key technology company metrics:

The company is the first company in the digital twin industry to propose and continue to implement an Earth cloning program;

The company ranked first in revenue in the digital twin industry in 2024;

As of December 31, 2024, the company ranked first in terms of financing volume in the Chinese digital twin solutions market;

The company is the first company in China's digital twin industry to achieve revenue exceeding HK$250 million in one year;

The company is the only company in the digital twin industry that can provide comprehensive digital twin solutions; and

The company has formed three core businesses, namely 51Aes (digital twin platform), 51Sim (synthetic data and simulation platform), and 51Earth (digital earth platform), and the company has launched commercial products and solutions in these three business areas.

The company has rich IP patents and plays an active role in setting national and international standards. As of November 26, 2025, the company has 265 software copyrights and valid authorized patents, and has participated in the formulation of 41 international, national, local and group standards for digital twins and related applications.

The company has built up a huge customer base. Since its establishment, the company has provided products and solutions to more than 1,000 enterprise customers, mainly in mainland China, and its business has grown in other countries and regions.

In terms of performance, in 2022, 2023, 2024 and 2025, for the six months ended June 30, the company achieved revenue of approximately 170 million yuan, 256 million yuan, 287 million yuan, and 53.82 million yuan respectively; in the same period, R&D expenses were approximately 134 million yuan, 103 million yuan, 583.12 million yuan, and 301.37 million yuan, respectively.