Shares of HQVT (01392) jumped more than 14% following the release of its interim results, with the stock trading 14.03% higher at HK$27.30 at the time of writing, on a turnover of HK$6.30 million.

On August 28, the self-proclaimed "first physical AI stock" unveiled its inaugural half-year report since its listing. Driven by the steady expansion of its large-model service operations, the company recorded a significant revenue surge, posting total revenue of RMB 411 million, a substantial year-on-year increase of 84.5%.

Management noted that the firm will continue to focus on three core evolution paths for technological upgrades: terminal hardware optimization, end-cloud collaboration acceleration, and tech platform iteration, aiming to build a formidable technological moat.

Additionally, the company is accelerating its pace to be included in the Stock Connect program. This influx of incremental capital is expected to catalyze a re-rating of the company's value, potentially opening up further upside room.

According to the financial report, for the six months ended June 30, 2026, HQVT achieved operating revenue of RMB 410 million, a robust year-on-year increase of 84.5%. The primary driver behind this revenue surge was the explosive growth in its multispectral AI large-model services business, which skyrocketed 382.5% year-on-year to RMB 320 million, now accounting for 78% of total revenue.

Excluding one-off expenses related to listing fees and share-based payment charges, the company's adjusted net profit for the first half reached RMB 27.6 million, achieving positive growth of 21.9% year-on-year. This indicates the core business maintained a sound trajectory of profitability.