Qunhe Technology secures overseas registration, as the "Hangzhou Six Little Dragons"'s first listed company approaches

One of the “Hangzhou Six Little Dragons,” Quannuclear Technology, makes significant progress toward listing in Hong Kong.

On February 13, Quannuclear Technology received the filing notice from the China Securities Regulatory Commission for overseas issuance and listing, just one step away from going public.

Looking back at Quannuclear Technology’s path to capitalization, as the first IPO project among the “Hangzhou Six Little Dragons,” it has been exactly one year since it officially submitted its application to the Hong Kong Stock Exchange in February 2025.

Industry insiders generally predict that if subsequent hearings proceed smoothly, Quannuclear Technology is expected to be officially listed in 2026, becoming the first company among the “Hangzhou Six Little Dragons” to go public.

Quannuclear Technology owns the spatial design platform “CoolJiaLe” and the next-generation spatial intelligent solution platform “SpatialVerse,” which is aimed at indoor environment AI development and can be used for embodied artificial intelligence training and e-commerce product display in virtual environments.

In 2025, Quannuclear Technology also entered the AI video generation field, launching the AI video generation application LuxReal.

From a financial perspective, Quannuclear Technology’s revenue has reached a substantial scale but has not yet achieved profitability. In the first half of 2025, revenue was 399 million yuan, with a net loss of 226 million yuan.

In addition to Deep Exploration and Game Science, other members of the “Hangzhou Six Little Dragons” are also actively preparing for IPO.

In December 2025, the robotics company Yunshenchu Technology officially submitted its IPO guidance materials to the Zhejiang Securities Regulatory Bureau.

According to disclosed plans, the guidance period is expected to end between April and June 2026. This means Yunshenchu Technology could take the first step toward A-share listing as early as mid-2026.

Similarly, YuShu Technology, also in the robotics sector, has an uncertain listing schedule. Although the company completed guidance in 2025 and previously announced on overseas social platforms that it planned to submit an application in Q4 2025, there has been no substantial progress so far.

Brain-machine interface company QiangNao Technology is rumored to have secretly submitted an IPO application to the Hong Kong Stock Exchange.

For the “Hangzhou Six Little Dragons,” going public is not only the beginning of a capital feast but also a test of the sustainability of their business models.

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