Good News on Listing | Frost & Sullivan Assists Shandong Jipijuezhi Technology Co., Ltd. to Successfully List on the Hong Kong Stock Exchange (6636.HK)

Shandong Jieyiguanshi Technology Co., Ltd. (Stock Code: 6636.HK) successfully listed on the main board of the Hong Kong capital market on March 30, 2026. Jieyiguanshi is a provider of AI computer vision solutions in China, offering end-to-end solution development, deployment, and management services for enterprises across various industries. Frost & Sullivan (hereinafter referred to as 'Frost & Sullivan') provides exclusive industry advisory services for Jieyiguanshi's listing, and we hereby extend our warmest congratulations on its successful listing.

Shandong Extreme Vision Technology Co., Ltd. (hereinafter referred to as 'Extreme Vision' or 'the Company') successfully listed on March 30, 2026, with plans to issue 1,248 million shares, of which 90% are international offerings and 10% are public offerings. The issue price per share is HK$40, raising a net amount of approximately HK$430 million.
During the process of listing in Hong Kong this time, Frost & Sullivan mainly undertook the following tasks: helping the issuer accurately and objectively understand its positioning in the target market, using objective market data to discover, support, and highlight the issuer's competitive advantages, assisting the issuer, investment banks, and other intermediaries in completing the relevant parts of the prospectus (such as overview, competitive advantages and strategy, industry overview, business, and other important chapters), facilitating communication between the issuer and the Hong Kong Stock Exchange and investors, helping investors quickly understand the market ecosystem and competitive landscape, and assisting the issuer in completing feedback on various industry-related issues from the Hong Kong Stock Exchange, etc.
Frost & Sullivan has always been a leader in helping companies go public in Hong Kong. According to LiveReport's big data, from January to December 2025, and over the past 36 months, Frost & Sullivan provided listing industry advisory services for 82 (market share 73%) and 180 (market share 71%) Hong Kong IPOs respectively, ranking first in terms of number of engagements. It has a wealth of industry experience and communication skills with regulatory authorities, exchanges, investment and financing institutions, and various related agencies.

• Based on its revenue in 2024, ExtremeVision is the eighth-largest emerging enterprise-level computer vision solution provider in China;

• Based on its revenue in 2024, ExtremeVision is China's third-largest provider of software-centric enterprise-level computer vision solutions;

• As of September 30, 2025, the AI Computer Vision Solution Algorithm Mall of ExtremeView has showcased over 1,500 algorithms covering more than 100 industries.

• As of September 30, 2025, Extreme Vision has established a global community composed of hundreds of thousands of AI algorithm developers and has served over 3,000 customers. It provides a robust infrastructure platform and a wide range of AI computer vision solutions to help enterprises achieve digital transformation.

• As of September 30, 2025, ExtremeView has delivered over 6,000 projects, with a product repurchase rate exceeding 80.0%, indicating the high standardization of our solutions and their good market recognition.

According to the Frost & Sullivan report, in terms of revenue for 2024:

• JVP Vision is the eighth-largest emerging enterprise-level computer vision solution provider in China;

• JVP Vision is China's third-largest provider of software-centric emerging enterprise-level computer vision solutions.

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Computer vision solutions are a technical solution that simulates the human visual system, enabling computers to extract information from images or videos and analyze, make decisions, and interact based on this information. Enterprise-level computer vision solutions refer to computer vision products and services designed specifically for various enterprise applications. These solutions can provide algorithm platforms, algorithm services, and other customized services according to specific needs. From 2020 to 2024, driven by policy support, increased downstream demand, and diversified applications, the market scale of Chinese enterprise-level computer vision solutions showed significant growth. It is expected that by 2029, enterprise-level computer vision solutions will further penetrate into various industries, and the market scale of Chinese enterprise-level computer vision solutions will continue to rise, reaching 1824 billion yuan with a compound annual growth rate of 37.7%.Source: Frost & Sullivan report

In recent years, with the continuous maturation of enterprise-level computer vision solution technologies and the emergence of new application scenarios, coupled with a reduction in computing power costs, it has provided strong support for commercial implementation. From 2020 to 2024, the market scale of emerging enterprise-level computer vision solutions in China showed a significant growth, increasing from RMB 2.2 billion in 2020 to RMB 11.1 billion in 2024, with a compound annual growth rate of 49.9%.Source: Frost & Sullivan report

● As an important branch of AI, computer vision will continue to benefit from China's AI policy dividends.

The rapid development of the enterprise-level computer vision solution market is inseparable from strong support from national policies. The 14th Five-Year Plan has clearly listed AI as a strategic emerging industry. The Central Economic Work Conference in 2024 explicitly proposed the implementation of the 'AI+' initiative, emphasizing the deep integration of AI with the real economy to improve the efficiency of traditional industries and cultivate new productive forces. This move is the first time the 'AI+' initiative has been written into the national government work report. Four ministries and commissions including the Ministry of Industry and Information Technology issued the 'Guidelines for the Construction of a National AI Industry Comprehensive Standardization System', aiming to solve current challenges in the AI industry such as fragmented technology, high security risks, and difficulties in application implementation through systematic standard layout, promoting coordinated development of technology, industry, and governance.

● Downstream application demands continue to emerge, expanding from traditional applications to more emerging ones, driving the continuous expansion and deepening of enterprise-level computer vision solutions.

With the continuous development and maturity of AI technology, downstream customers' demand for computer vision solutions is also growing day by day. This demand is not only reflected in traditional application areas such as face recognition but is also gradually expanding to more emerging use cases. For example, in the security field, in addition to traditional face recognition access control systems, computer vision technology is also applied to behavior analysis and anomaly detection in more complex scenarios, enabling real-time monitoring and early warning of potential security threats. In the medical field, computer vision technology is used for medical image analysis and surgical navigation, improving diagnostic accuracy and treatment effectiveness. The diversified needs of downstream customers for computer vision solutions prompt relevant providers to continuously increase R&D investment, promote technological innovation and application expansion, and further accelerate the prosperous development of the computer vision market.

● The rapid decline in computing power costs has provided strong support for the commercial implementation of enterprise-level computer vision solutions in various scenarios.

Computing power is the key foundation for the implementation of computer vision technology, and the rapid decline in computing power costs has provided strong support for the widespread application of computer vision solutions. In recent years, with the continuous improvement in the performance of specialized chips such as GPUs and FPGAs, as well as the rapid development of cloud computing and edge computing technologies, the continuous progress and innovation in hardware technology have significantly reduced computing power costs. This has enabled computer vision technology to be more widely applied in various scenarios without being limited by high costs. For example, for small and medium-sized providers and startups with limited resources, lower computing power costs make it easier to deploy and apply computer vision solutions, thereby promoting the popularization and dissemination of this technology. At the same time, the decline in computing power costs has also prompted continuous optimization and upgrading of computer vision technology. Relevant providers can invest more resources in research and development to improve algorithm efficiency and accuracy, further enhancing the performance and competitiveness of computer vision solutions.

Enterprise-level computer vision solutions are undergoing a transformation from single algorithm supply to full-stack AI system-level solutions. In the past, many enterprise-level computer vision solution providers mainly focused on providing single algorithms or software development kits (SDKs), such as specific features like face recognition or object detection. With technological progress and diverse market demands, customers are no longer satisfied with single-function solutions but require more comprehensive and integrated system capabilities. Today, leading enterprise computer vision providers are gradually shifting towards offering full-stack AI system-level solutions, including overall capabilities such as algorithm repositories, data platforms, media stream acceleration, and large-scale scheduling. Such changes not only strengthen algorithm capabilities but also represent a comprehensive upgrade of overall engineering capabilities. Algorithm repositories can provide a variety of pre-trained models to meet diverse needs in different scenarios; data platforms can efficiently manage and label large amounts of data to support model training; media stream acceleration technology ensures real-time transmission and processing of video data, improving system response speed; large-scale scheduling capabilities can optimize resource allocation, enhancing system stability and scalability. This full-stack AI system capability supply model enables enterprise-level computer vision solutions to better adapt to complex and changing market demands, providing customers with one-stop solutions and standing out in the fierce market competition.

Ranked eighth among all market participants by sales revenue in 2024, our China emerging enterprise-level computer vision solutions market share is 1.6%. In addition, according to the same criteria, we are the third-largest software-centric provider in the China emerging enterprise-level computer vision solutions market.

● >Technical capabilities

Product and technical barriers require not only the mastery of advanced computer vision algorithms and models but also full-stack technical capabilities, including algorithm repository development, data platforms, media stream acceleration, and large-scale scheduling, providing one-stop solutions. Providers need to be able to flexibly customize and optimize solutions according to different customer needs, ensuring the efficiency and adaptability of their technology. In addition, the ability to continuously innovate and upgrade technology is crucial; providers must constantly invest in research and development to maintain their technological advantage and cope with rapidly changing market demands and competitive environments.

● >Industry-specific expertise

Industry-specific expertise is one of the key factors for the success of emerging enterprise computer vision providers. Providers need to have a deep understanding of the business processes, pain points, and needs of specific industries in order to develop solutions that truly meet industry requirements. This industry knowledge includes not only technical understanding but also a comprehensive grasp of industry standards, regulations, and business models. With long-term industry experience, providers can better communicate with customers, quickly identify and solve practical problems, thereby enhancing customer satisfaction and market competitiveness. The accumulation of industry-specific expertise requires time and practical experience, and newcomers often lack this depth of understanding and experience, making it difficult for them to gain customer trust and market share in a short time, thus forming a high entry barrier.

● :Sustained profitability

Sustainable profitability supports the viability and growth of emerging enterprise computer vision providers, serving as an important market entry barrier. Providers need stable revenue sources and good financial conditions to support R&D, market expansion, and customer service. Sustainable profitability not only reflects the provider's business operational capabilities but also indicates their ability to effectively manage costs, optimize resource allocation, and maintain competitiveness in market fluctuations. Providers need to ensure stable revenue growth and continuous profit accumulation through efficient business models and precise market positioning.

● -commercialization and industry recognition

The commercialization and industry recognition of emerging enterprise-level computer vision solutions are key factors for providers' success. Providers need to have the ability to transform technology into actual products, successfully launch these products into the market, and realize their commercial value. This requires not only strong market insight and marketing capabilities but also establishing good cooperative relationships with key customers and partners within the industry to promote the widespread application of the solutions. Achieving widespread recognition within the industry means that providers have received high praise from customers in terms of technology, service, reliability, etc., thereby attracting more customers and partners. The accumulation of commercialization and industry recognition takes time and market validation; new entrants often find it difficult to gain customer trust and market recognition in a short period, thus forming high entry barriers.