Nuobikan Artificial Intelligence Technology is preparing to go public in Hong Kong, aiming to raise roughly $50 million in an IPO scheduled to debut on December 23, 2025. The offering underscores continued investor appetite for AI-driven companies in Asia and highlights Hong Kong’s resurgence as a global listing venue amid strong year-end issuance.

Company Background
Founded in Chengdu, China, Nuobikan Artificial Intelligence Technology provides AI-powered solutions tailored to the transportation and energy industries. The company focuses on applying artificial intelligence to improve efficiency, safety, and operational intelligence across large-scale infrastructure systems. Nuobikan has delivered steady top-line growth, with revenue rising 10% in 2024 to approximately 400 million yuan ($57 million) and profits increasing 30% to 115 million yuan. In the first half of 2025, revenue accelerated by nearly 25% year over year to 230 million yuan, reflecting continued demand for its AI solutions, though profitability softened amid a shift toward customized technical services.

IPO Details
Nuobikan plans to offer approximately 3.8 million shares at an indicative price range of HK$80.00 to HK$106.00 per share. At the top end of the range, the IPO would raise up to HK$401.4 million, or about $51.6 million. Shares are expected to begin trading on December 23, 2025, under the ticker 2635.HK. Proceeds will be allocated toward core technology research and development, construction of a new R&D center and headquarters, and potential strategic investments and acquisitions. China International Capital Corporation (CICC) is acting as the sole sponsor for the offering.

Market Context & Opportunities
Nuobikan’s IPO comes amid a renewed surge in AI-related listings across China, spanning chips, software, and industry-specific AI solutions. Hong Kong has emerged as a preferred destination for these offerings, benefiting from strong liquidity and international investor access. In the first 11 months of 2025, IPO fundraising in Hong Kong exceeded $33 billion, more than tripling year over year. With governments and enterprises increasingly prioritizing AI adoption in transportation and energy, Nuobikan is positioned to benefit from long-term structural demand in these critical sectors.

Risks & Challenges
Despite strong revenue growth, Nuobikan’s recent profit decline highlights execution risks tied to its business mix. The increase in customized development projects has raised procurement and support service costs, compressing margins in certain segments. Investors will also weigh broader risks, including competitive pressure from other AI providers, rapid technological change, and potential volatility in capital markets that could affect post-IPO performance.

Outlook
As Hong Kong’s IPO calendar closes out a banner year, Nuobikan Artificial Intelligence’s listing will test whether sector-specific AI players can sustain investor enthusiasm beyond headline growth. The success of the offering may hinge on the company’s ability to translate expanding revenues into consistent profitability while capitalizing on the region’s accelerating push toward AI-driven infrastructure.