On November 29, Beijing-primarily primarily based 51World submitted its utility to list on the Well-known Board of the Hong Kong Stock Trade (HKEX) below Chapter 18C. This provision caters particularly to specialist skills companies, making 51World the fifth company to absorb a study this route. The joint sponsors, China World Capital Company (CICC) and Huatai Securities, are backing the switch.
Founded in 2015, 51World has carved a gap in 3D graphics, simulation, and man made intelligence. The company is most attention-grabbing diagnosed for its ambitious “Earth cloning project,” unveiled in 2017, which targets to create a digital reproduction of the planet for simulation functions. Its product suite is anchored by three platforms: 51Aes (digital twins), 51Sim (synthetic files and simulations), and 51Earth (digital Earth).
In China’s digital twin market, companies tumble into two classes: all-in-one retort developers and single-retort consultants. 51World stands out because the country’s sole complete provider, offering instruments ranging from mannequin asset building to imperfect-industry functions. A represent from Frost & Sullivan positions it because the top digital twin alternate solutions provider in China by income for 2023.
The company’s dominance is underpinned by an intensive funding historical previous. Up to now, it has accomplished eight funding rounds, elevating the highest cumulative amount in its sector. With a valuation of RMB 4.4 billion (USD 616 million), its investors consist of Nanning Renewal Capital, Lightspeed China Partners, Sky9 Capital, Star VC, and Cherami Investment Neighborhood, as effectively as industry gamers corresponding to SenseTime and Moore Threads, and particular particular person backers admire Ge Weidong and Liang Botao.
51World’s financials underscore each development and funding depth. Its income grew from RMB 126 million (USD 17.6 million) in 2021 to RMB 256 million (USD 35.8 million) in 2023, reflecting a compound annual development fee (CAGR) of 42.56%. For the major half of 2024, income rose 12% year-on-year.
Despite constant execrable profit margins—65.2% in 2021, 65% in 2022, and 54.2% in 2023—the company posted adjusted catch losses attributable to major R&D spending. From 2021 to 2023, R&D charges accounted for 85.2%, seventy nine%, and 40.2% of annual income, respectively. In the major half of 2024, this building persevered with an allocation of RMB 60 million (USD 8.4 million). Nonetheless, narrowing losses recommend bettering operational efficiency.
As of June 30, 51World held RMB 270 million (USD 37.8 million) in cash and cash equivalents, alongside RMB 78 million (USD 10.9 million) in different financial sources, for a total of RMB 350 million (USD 49 million).
51World’s digital twin merchandise absorb reportedly been adopted by over a thousand enterprises globally, serving industries from city planning and water sources to automotive and entertainment. Its attain spans 19 worldwide locations and regions.
The company’s next steps consist of deepening investments in digital infrastructure, AI-driven synthetic files capabilities, and its digital Earth initiatives. These initiatives goal to free up commercialization alternatives while solidifying its market management.
KrASIA Connection substances translated and adapted articulate that was on the initiating put aside published by 36Kr. This article was written by Huang Nan for 36Kr.
