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Author: Huang Nan

Editor: Yuan Silai

36Kr exclusively learned that Beijing May 1st Vision Digital Twin Technology Co., Ltd. (hereinafter referred to as "51WORLD") recently completed a 200 million yuan Pre-IPO round of financing, invested by Nanning Huanxin Capital. Industrial and commercial information shows that historical investors of "51WORLD" include institutions such as Lightspeed China, Yunjiu Capital, Star VC, Guohe Investment, SenseTime Technology, and individual investors such as Ge Weidong. The newly added shareholder Nanning Huanxin Capital is a state-owned capital investment platform established by Nanning City on December 28, 2023, with an initial registered capital of 3 billion.

According to people familiar with the matter, the company has hired two leading securities firms as joint sponsors and plans to be listed on the main board of the Hong Kong Stock Exchange under Chapter 18C in the near future.Chapter 18C is a new listing rule introduced by the Hong Kong Stock Exchange for special technology companies. Since its launch at the end of March 2023, only three companies, namely Jingtai Technology, Black Sesame Intelligence, and Yuejiang Technology, have submitted listing applications under Chapter 18C.

"51WORLD" was founded in 2015 and is a national-level specialized and innovative "little giant" enterprise. The company provides customers with one-stop digital twin products and solutions based on 3D graphics, physical simulation and AI technology.

Since 2017, "51WORLD" has also proposed the "Earth Cloning Plan", which is to create a super-large simulation simulator by replicating the earth in the virtual world.

Recently, at the Computex 2024 conference, Nvidia CEO Jensen Huang announced the "Earth 2" project, which also aims to create a digital twin of the Earth to predict its future changes.

Digital twins are based on the integrated fusion of data and models. By "cloning" physical objects, systems or processes that exist in the physical world in virtual space, they simulate, verify, predict and control the entire life cycle of physical entities, ultimately forming a closed loop of intelligent decision-making optimization.

In recent years, the digital economy has flourished. With the support of technologies such as intelligent sensing, cloud computing, big data, and AI, digital twin technology has enhanced its support capabilities as a basic tool for industrial digital upgrading. Its application scope and depth are also constantly expanding. It is widely used in factory manufacturing, urban management, intelligent driving, architectural design and other fields.

Taking the manufacturing industry as an example, digital twin technology can be involved in all stages of the industrial manufacturing life cycle, such as product design, quality management, supply chain management, and maintenance, shortening the design cycle and improving production efficiency. In the field of traffic management, digital twin tools can be used to visualize the traffic flow of road networks in 3D, simulate and verify the accuracy and feasibility of road network planning and traffic management, and effectively reduce costs.

According to Mordor Intelligence data, the global digital twin market size is expected to reach US$19 billion in 2024, and will continue to expand at a compound annual growth rate of 36.9%, and may exceed US$90 billion within five years.

Building core technologies around computer graphics and simulation, "51WORLD" has released three core products: 51Aes digital twin platform, 51Sim data simulation platform, and 51Earth digital earth platform.

The 51Aes digital twin platform provides digital twin solutions and software products, and its application value can be divided into five stages: V1 visual presentation, V2 data fusion, V3 data drive, V4 simulation, and V5 intelligent decision-making. Taking smart emergency response as an example, the 51Aes digital twin platform has a comprehensive safety supervision function, which can monitor and perceive global environmental information, conduct intelligent early warning of potential risks, and realize multi-departmental coordination of emergency response, providing strong technical support for monitoring and early warning, supervision and law enforcement, auxiliary command decision-making, rescue operations, and social mobilization.

AES application stage (Source: 51WORLD)

In response to the problems of long production cycles and high costs of digital twin projects, 51Aes launched the digital twin SaaS platform WDP, which provides development tools and high-performance open APIs, supports multi-source data import, lowers the usage threshold for enterprises, and allows out-of-the-box use.

In 2017, 51WORLD incubated the 51Sim synthetic data and simulation platform, which is aimed at new productivity fields represented by intelligent driving, embodied intelligence, and low-altitude economy. With core technologies such as data-driven simulation, distributed cloud simulation, end-to-end simulation, and generative simulation, it provides intelligent driving simulation testing and sufficient synthetic data products and solutions for AI system training. 51Sim has been commercialized and serves hundreds of industry customers.

In the C-end market, "51WORLD" launched the real-time online creation and publishing platform 51Earth in March this year, and opened 3D city assets (UGA), 51Earth Builder (Earth Clone Editor) and 51Earth Dev Kit (Developer Kit) for free to help 3D creators, 2D designers and ordinary users reduce the cost of acquiring 3D city assets, simplify the 3D content creation process, and improve application development efficiency.

Digital assets of multiple cities have been launched (Source: 51WORLD)

Relevant data shows that the three major products of "51WORLD" have been widely used by more than a thousand large and medium-sized enterprises around the world, and its business covers more than 200 cities; it serves domestic and overseas customers including China Mobile, China Unicom, China Telecom, State Grid, China Railway, China National Building Materials, South-to-North Water Diversion Group, Huawei, BMW, Surbana Jurong, NTT DATA, Sampas, etc., and has implemented multiple digital twin application platforms such as the Xiongan New Area BIM Management Platform, Beijing Haidian City Brain IOCC, BMW Tiexi Digital Twin Factory, China Railway Engineering Equipment Digital Twin Factory, Indonesia Jakarta CIM Platform, and Turkey Digital Osmanye.