Rayway Technology accelerates into Hong Kong stocks: annual revenue of 440 million yuan, loss of 68.15 million yuan

LeiDi.com Lei Jianping March 27

Xiamen Ruiwei Information Technology Co., Ltd. (referred to as “Ruiwei Technology”) recently updated its prospectus, preparing for a listing in Hong Kong.

Annual revenue of 440 million yuan, loss of 68.15 million yuan

Ruiwei Technology is an AI company providing visual intelligence technology and products for enterprise clients.

Relying on AI algorithms and optical imaging technology, Ruiwei Technology offers a range of visual perception, visual cognition, and visual reasoning intelligent products, which are deeply applied in scenarios such as civil aviation, commercial spaces, and freight logistics.

The prospectus shows that Ruiwei Technology’s revenue for 2023, 2024, and 2025 are 242 million yuan, 395 million yuan, and 443 million yuan respectively; gross profit of 98.82 million yuan, 157 million yuan, and 167 million yuan; gross profit margins of 40.8%, 39.8%, and 37.7%.

Ruiwei Technology’s net profit for 2023, 2024, and 2025 are respectively -32.58 million yuan, 8.29 million yuan, and -68.15 million yuan.

As of December 31, 2025, Ruiwei Technology held cash and cash equivalents of 38.14 million yuan.

Intel and Sequoia are shareholders

Ruiwei Technology’s executive directors are Zhan Donghui and Han Songguang; non-executive directors are Chen Gen and Ms. Li Jia; independent non-executive directors are Sun Xiaobei, Ms. Gu Wenbo, and Tang Ke.

Before the IPO, Zhan Donghui held 28.13% of shares, Su Xiaosheng held 4.41%, Chi Chang and Han Songguang each held 1.38%, the equity incentive platforms Shenzhen Ruiyuan Technology Partnership and Ruiyuan Technology Partnership held 3.96% each, Ruiyi Tong Technology Partnership held 1%;

Greenland Financial Holdings held 7.89%, Jing Shui Hu Venture Capital held 6.17%, Tibet Sike Rui held 5.91%, Intel held 4.64%, Hongyu Aviation Industry Fund held 3.56%, Nantong Jianghai Fund held 3.38%, Nanjing Sequoia held 2.96%, Sequoia Yian held 0.74%;

CITIC Investment held 2.96%, Shihezi Shangshi Growth held 1.27%, Growth Acceleration held 1.48%, Sichuan-Shanghai Cooperation Innovation Fund held 2.68%, Hunan Xingxiang Zhongzheng Xin Ying Equity Investment Fund and Shenzhen Investment Holdings Capital each held 2.47%, Hualong Investment held 2.09%;

Dai Liyi held 1.08%, Wuxi Hechuang High-tech and Gaolue Jucai each held 0.92%, Jingtai Zhizao Phase I held 0.59%, Cheng Mingjia Venture Capital held 0.57%, Putian Xinpao No. 2 Investment Partnership (Limited Partnership) held 0.49%, Huazi United held 0.42%, Jincuan New Energy held 0.1%.

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