Listing Success | Frost & Sullivan Supports Ruwei Technology in Successful Stock Market Listing (07656.HK)

Ruiwei Technology successfully went public on July 8, 2026, with plans to issue 28.087 million H-shares globally, including 1.4044 million shares for sale in Hong Kong and 26.6826 million shares for international sales. The highest offering price was 21.66 Hong Kong dollars, raising approximately 529 million Hong Kong dollars in net funds.

During this listing process in Hong Kong, Frost & Sullivan performed the following tasks: helping the issuer accurately and objectively understand its position in the target market, using objective market data to identify, support, and highlight the issuer’s competitive advantages, assisting the issuer, investment banks, and other intermediaries in writing important sections of the prospectus (such as overview, competitive advantages and strategy, industry overview, business, etc.), helping the issuer communicate with the Stock Exchange and investors, aiding investors in quickly understanding the market ecosystem and competitive landscape, and assisting the issuer in responding to various questions regarding the industry from the Stock Exchange.

Frost & Sullivan has always been a leader in helping enterprises list in Hong Kong. According to LiveReport Big Data (statistical data as of June 30, 2026), over the past 36 months and 12 months, and from January to June 2026, Frost & Sullivan provided listing industry consulting services for 212 (market share: 69%), 111 (market share: 71%), and 58 (market share: 69%) Hong Kong IPO companies, ranking first in terms of number of services provided. It has rich industry experience and communication skills with regulatory authorities, exchanges, investment and financing institutions, and related organizations.

Enterprise visual intelligence products refer to integrated visual intelligent technologies that help enterprises perceive, analyze, and respond to visual information to improve automation and operational efficiency in various business scenarios. Depending on the usage scenario, enterprise visual intelligence products can be divided into visual intelligence products for civil aviation enterprises, commercial space enterprises, and safe driving enterprises.

As a segment of the enterprise AI solution market, the market size of Chinese enterprise visual intelligence products increased from 14.9 billion RMB in 2021 to 40.5 billion RMB in 2025, with a compound annual growth rate of 28.4% from 2021 to 2025. Driven by the increasing demand for products that further improve operational efficiency, reduce costs, and enhance customer experience, as well as technological progress and favorable government policies, the market size is expected to grow to 162.7 billion RMB by 2030, with a compound annual growth rate of 32.1% from 2025 to 2030.

The upstream participants in the enterprise visual intelligence product market include various hardware manufacturers, such as chip, server, camera, sensor module providers, and software suppliers providing operating systems and middleware. In the midstream, enterprise visual intelligence product providers offer integrated visual intelligent technologies to enterprises in different segments. Downstream participants include system integrators who provide integrated solutions and implement projects, as well as enterprises in various sectors, such as airport operators in the civil aviation sector, mall operators in commercial spaces, freight operators in safe driving, and other enterprises.

• Demand for visual intelligence products that enhance safety, improve operational efficiency, and improve customer experience. Visual intelligence products are not only being applied in new scenarios but also as part of broader intelligent upgrades in existing scenarios, strengthening existing solutions. From a safety perspective, visual intelligence products such as smart access control products help enterprises actively manage potential risks and ensure compliance in various environments, and are used in areas where safety is paramount, such as civil aviation, commercial spaces, and safe driving. In terms of operational efficiency, as enterprises face intense competition and the need to improve operational efficiency grows, enterprise visual intelligence products have become essential tools for streamlining work processes and large-scale automation tasks, helping enterprises reduce labor costs and improve operational efficiency. Additionally, the pursuit of enhancing customer experience further accelerates the application of visual intelligence products. Visual intelligence products provide personalized services to important customers through computer vision and other technologies, helping enterprises offer faster, more suitable, and smoother experiences, especially in civil aviation and commercial spaces.

• Technological progress. Technological progress, especially the development of AI models, such as large models, extended specific domain datasets, and continuously improved computing power, is a key driver of the Chinese enterprise visual intelligence product market. Large models enable enterprise visual intelligence products to achieve general visual semantic understanding in open scenarios, improving the product’s decision-making and task planning capabilities, thereby meeting more complex and general application needs and significantly enhancing their functionality in different industries. The availability of data in many specific domains, from civil aviation to commercial spaces, allows visual intelligence products to be customized according to the unique needs of enterprises. At the same time, the affordability and accessibility of computing power infrastructure continue to improve, enabling enterprises to deploy advanced visual intelligence products on a large scale. Such technological breakthroughs not only improve the performance and efficiency of enterprise visual intelligence products but also lower the entry barrier for enterprises to adopt such products, thus accelerating market growth.

• Favorable government policies. China’s government policies play a crucial role in promoting the growth of the enterprise visual intelligence product market by creating an environment conducive to AI innovation and application. For example, the 'New Generation Artificial Intelligence Development Plan' outlines a strategic roadmap to build China as a global leader in AI by 2030, emphasizing the progress of AI technologies and their application in various industries. This policy encourages the government to invest heavily and launch multiple programs to support AI research, talent training, and infrastructure construction, enabling enterprises to adopt visual intelligence products on a large scale. The 'National Artificial Intelligence Industry Comprehensive Standardization System Construction Guide (2024 Edition)' specifies technical requirements and evaluation methods for image acquisition, image/video processing, and image content analysis, including standards for function, performance, and maintainability.

• Enterprise visual intelligence products will be widely used in various industries. Enterprise visual intelligence products are evolving from single-purpose, task-specific tools into more advanced, general systems capable of handling complex, multi-dimensional challenges. These innovations enable visual intelligence products to adapt to a wider range of scenarios in different industries. For example, in the financial services sector, visual intelligence products can automatically identify and verify customer identities, thereby enhancing the security of account opening and transaction processes. As AI technology matures and user demand increases, new use cases are expected to emerge, accelerating cross-industry applications and deeper integration into these scenarios.

• Widespread use of multimodal intelligent products. Multimodal intelligent products are processing systems that can analyze different types and structures of data to extract understandable information. The application of multimodal intelligent products in civil aviation, commercial spaces, and other fields not only provides users with richer and more intuitive interactions but also promotes the intelligent development of AI technology. For example, in civil aviation scenarios, enterprise visual intelligence products will further integrate other multimodal technologies such as audio processing, providing customers with a new experience. The ability of multimodal intelligent products to process and combine various types of information makes them valuable tools in complex decision-making scenarios.

• Development progress of Visual Intelligence Agents. One of the most important technological developments in the Chinese enterprise visual intelligence product market is the development of Visual Intelligence Agents. With continuous progress in the integration of perception, decision-making, and execution capabilities, these products are moving from mere visibility to true autonomous understanding and response, marking a significant shift from static recognition to dynamic interaction. Enterprise visual intelligence products are no longer just perception tools but have evolved into agents capable of interacting, understanding, and executing tasks, driving intelligent transformation in various industries.

Chinese civil aviation enterprise visual intelligence products refer to products that use visual intelligent technology to improve operational efficiency, safety, and passenger experience in the civil aviation sector. Main applications include self-service check-in devices based on integrated multimodal recognition, behavior analysis, and decision-making technologies, smart security inspection systems, real-time passenger inquiry service devices, and automatic baggage tracking and sorting solutions. These products play a crucial role in promoting the digital and intelligent transformation of civil aviation in China, supporting goals such as unmanned operations, smooth passenger procedures, and intelligent airport management.

The market size of Chinese civil aviation enterprise visual intelligence products increased from 1 billion RMB in 2021 to 2 billion RMB in 2025, with a compound annual growth rate of 18.9% from 2021 to 2025. Driven by continuous technological innovation and development, digital transformation of the civil aviation industry, high-quality development, and favorable policies, it is expected to grow to 6.3 billion RMB by 2030, with a compound annual growth rate of 25.8% from 2025 to 2030.

Based on 2025 revenue, Ruiwei Technology ranks first in the Chinese civil aviation enterprise visual intelligence product market.