Shenzhen's industrial watchdog has named HQVT (01392) in its latest roster of approved model service providers, a move that could open the door to local government subsidies for its AI offerings. The Shenzhen Municipal Bureau of Industry and Information Technology recently published its proposed list of model service institutions for 2026, with HQVT's proprietary "Zhiyuan Origin" large model securing a spot. As the city's primary authority overseeing artificial intelligence industry development, the bureau's list carries significant market signaling weight, and HQVT now stands to leverage Shenzhen's AI support policies to expand its foothold among local industrial clients.
Shenzhen has rolled out a suite of policy instruments including "model vouchers," "training vouchers," and "corpus vouchers" to accelerate AI adoption. Companies partnering with approved institutions can apply for model vouchers to offset a portion of large model procurement costs, effectively lowering the barrier to AI deployment and driving the technology's integration into the real economy. More than a dozen institutions have already been admitted to this service database. The inclusion process carries strict prerequisites, notably requiring that candidate large models complete the Cyberspace Administration of China's generative AI filing. HQVT's "Zhiyuan Origin" model had previously secured this filing, positioning it as compliant for offering industry-specific model services.
Unlike general-purpose generative models, the Zhiyuan Origin model is engineered specifically for multi-spectral early risk warning. Its core capability lies in fusing ultraviolet, infrared, and visible light spectral sensing data to perform scene comprehension and risk assessment. Drawing on a long-accumulated risk sample database and industrial domain knowledge, the model can identify latent hazards such as electrical arcing, overheating, and fire risks in IDC data centers, power grids, and energy facilities鈥攖hreats often imperceptible to the naked eye. The system supports edge-cloud collaboration, private deployment, and industry-specific customization, making it adaptable to the complex conditions of industrial sites.
As a rare physical AI commercialization play on the Hong Kong stock exchange, HQVT's large model services have emerged as its primary growth engine. In the first half of 2026, revenue from these services reached RMB 320 million, surging 382.5% year-on-year and accounting for 78.8% of total revenue. With the anticipated inclusion on Shenzhen's list, qualified local enterprises purchasing its multi-spectral AI services can access policy subsidies, reducing customer procurement costs and potentially unlocking a broader array of industrial orders, thereby accelerating the commercial penetration of vertical large models.
Adding to the momentum, the LeadLeo Research Institute's recently released "2026 China Physical AI Vendor Panorama Report" has placed HQVT on its Top 10 list for physical AI industry application practices. The ranking evaluated vendors across dimensions including technology stack completeness, engineering delivery capability, and commercialization performance, underscoring the company's standing in the multi-spectral physical sensing arena.
Headquartered in Shenzhen, HQVT is a national-level "Little Giant" enterprise specializing in new and sophisticated technologies. Its Zhiyuan Origin large model had previously been selected for Guangdong Province's first batch of AI industry large model designations. The prospective inclusion in Shenzhen's model service institution database signals dual recognition from local authorities of both its multi-spectral AI technical prowess and its capacity for commercial deployment. Going forward, HQVT plans to leverage the policy ecosystem to continuously refine its edge-cloud collaborative multi-spectral AI solutions, supporting the intelligent safety upgrades of local manufacturers, data centers, and power and energy firms, while exporting replicable risk warning solutions to the wider market.