Intel Capital-backed company approaches the public market

Chinese artificial intelligence company Reconova Technologies, which specializes in computer vision technologies, is preparing for an initial public offering (IPO) on the Hong Kong Stock Exchange during 2025. According to a Bloomberg report citing sources familiar with the matter, the company aims to raise approximately $100 million. This positions Reconova among a growing group of Chinese AI startups looking to capitalize on investor interest in the rapidly evolving tech sector.

Strong financial backing and advanced computer vision development

Founded in 2012 and based in Xiamen, Reconova is backed by prominent financial entities in China and internationally, including Intel Capital, Greenland Holdings, and Citic Securities. The company develops advanced facial recognition and computer vision technologies with applications in airports, shopping malls, industrial facilities, and smart vehicles.

In the Chinese tech landscape, Reconova is regarded as one of the most promising AI firms, thanks to a combination of applied research, extensive industrial deployment, and collaborations with both governmental and commercial organizations.

Financial aspects: planned capital raise, market valuation undisclosed

According to reports, Reconova is currently working with financial advisors to advance the IPO process. The planned offering is expected to raise around $100 million, though the company’s valuation has not yet been disclosed. The final scope of the IPO will depend on market conditions and regulatory decisions. Reconova has not issued an official comment on the matter.

This strategic move comes at a time when global investors are showing increasing interest in Chinese AI companies, despite growing restrictions imposed by the U.S. government on technological cooperation with China.

Global competition: China pushes forward with technological independence

Reconova’s expected IPO is part of a broader trend among Chinese AI firms turning to Hong Kong’s capital markets to raise funds. The move is also seen as a direct response to the U.S. export control policies designed to slow China’s technological advancement.

Rather than relying on foreign investment or access to Western markets, Chinese firms are building a self-sufficient ecosystem—where Reconova is emerging as a key player. Its technological capabilities, operational experience, and capital structure provide a strong foundation for its entry into the public market.

IPO trend in Hong Kong: wave of AI companies target the exchange

Reconova is not alone. Over the past year, Hong Kong has seen a growing wave of IPOs from Chinese AI companies aiming to leverage innovation momentum and investor demand for tech exposure. Among them, DeepSeek has stood out by elevating the visibility of China’s AI industry and reinforcing Beijing’s confidence in its ability to compete with Silicon Valley.

Hong Kong has become a preferred alternative for companies that either cannot or choose not to list in New York or on the Nasdaq. In this context, Reconova’s IPO would be perceived not just as a financial maneuver but as a strategic statement.

Conclusion: A calculated move in a geopolitically complex market

Given the global competition, tightening regulations, and rising geopolitical tensions between China and the United States, Reconova’s decision to pursue an IPO in Hong Kong is significant. It demonstrates the capability of the Chinese AI industry to raise capital, expand operations, and operate independently in a challenging financial environment.

If the IPO proceeds as planned, it may further strengthen Reconova’s standing as a leading company in its field—and mark a potential shift in the balance of technological power between East and West.