By Julia Fioretti

Intel Capital-Backed AI Firm Reconova Is Said to Plan HK IPO. Bloomberg

(Bloomberg) -- Reconova Technologies Co., a Chinese artificial intelligence company specializing in visual perception, is planning a Hong Kong initial public offering as soon as this year, according to people familiar with the matter.

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The Intel Capital Corp.-backed firm is working with advisers on a share sale that could raise about $100 million, the people said, asking not to be identified because the information isn’t public.

Deliberations are ongoing and details such as size and timing may change, the people added.

A representative for Reconova didn’t respond to requests seeking comment.

The Xiamen-based company, which also counts Greenland Holdings Corp. and Citic Securities Co. as backers, is one of several Chinese AI startups looking to go public in Hong Kong to tap investor interest in the rapidly growing sector.

The emergence of DeepSeek prompted a revaluation of China’s progress in AI technology, despite concerted efforts by the US to curb the country’s push in the sector. Beijing is prioritizing the development of a domestic technology industry in its race with the US to become the global leader in AI.

Founded in 2012, Reconova develops vision technologies such as facial recognition that can be used in airports, stores, industrial complexes and commercial vehicles, its website shows.

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