旷视5号员工陈可卿创办的极豪科技冲刺港交所：服务OPPO小米荣耀 已扭亏为盈

This article centers on Jihao Technology, a startup founded by Chen Keqing, the 5th employee of Megvii Technology, which submitted a prospectus to the Hong Kong Stock Exchange in June 2026 for a main board listing. Key takeaways are as follows:

1. Company fundamentals: Founded in 2020, Jihao focuses on integrated intelligent terminal perception and interaction solutions. By 2025 revenue, it is China's second-largest biometric identification solution provider for smartphones, holding a 14.5% market share. The company turned profitable in 2025, with adjusted net profit exceeding RMB 20 million.

2. Core competitiveness: Founder Chen Keqing has 15 years of deep learning experience and led the commercialization of facial recognition solutions for multiple flagship smartphone models. Jihao's self-developed AI-powered large model for perception and interaction is the first of its kind in China to achieve commercial application, giving it a clear technological lead.

3. Business layout: Beyond smartphones, Jihao has expanded into emerging tracks including smart glasses and embodied intelligence. Its smartphone solutions currently cover eight leading mobile phone brands, and it has launched joint R&D cooperation with top brands in its new business segments.

This article provides industry trend insights and cooperation references for consumer electronics brands in the AI perception and interaction track. Key takeaways are as follows:

1. Consumer and technology trends: Demand for seamless natural interaction in intelligent terminals is growing rapidly. AI-enabled technologies including biometrics, eye tracking and visual-tactile perception have become core directions for product upgrading. Emerging categories such as smart glasses and embodied intelligence are still in an early stage, leaving abundant room for product innovation.

2. Cooperation model reference: Jihao offers integrated AI perception and interaction solutions, and commercializes new products through a joint R&D model with leading brands. It has already partnered with multiple top brands including OPPO, Xiaomi and Honor—for example, it developed eye tracking technology for Xiaomi AI glasses. Brands can adopt this model to accelerate new product launches by leveraging third-party technical capabilities.

3. Commercial path reference: Jihao achieved steady gross margin growth by building benchmark cases with leading brands before scaling up, with its gross margin rising from 26.3% in 2023 to 37.6% in 2025. It turned profitable just five years after founding, making its growth path a valuable reference for technology-oriented brands.

This article outlines new opportunities and risk warnings for consumer electronics sellers in the AI perception and interaction track. Key takeaways are as follows:

1. Market growth opportunities: AI-powered perception and interaction is a core upgrading direction for intelligent terminals. Beyond the mature smartphone biometrics market, emerging segments such as smart glasses and embodied intelligence are in their infancy with enormous growth potential. In 2025, Jihao's technology service revenue from new businesses grew more than 600% year-on-year, far outpacing the growth of its mature business.

2. Replicable business model: Jihao adopts a strategy of "core AI capability reuse + benchmark building with leading brands + scaled expansion". It started in smartphones and gradually replicated its core capabilities to multiple new product categories. This low-risk expansion model is well-suited as a reference for small and medium-sized technology sellers.

3. Risk warning: Emerging businesses such as smart glasses and embodied intelligence are still in the R&D and validation stage and have not yet achieved large-scale commercialization. Sellers entering these new tracks should partner with leading brands in advance, rely on industry chain partners to reduce R&D risks, and avoid blind capacity expansion.

This article sorts out accessible business opportunities and development insights for factories in the intelligent terminal supply chain. Key takeaways are as follows:

1. Shifting product and manufacturing requirements: Intelligent terminals have increasingly demanding requirements for thin, lightweight and high-precision perception and interaction components. Jihao has developed an ultra-thin visual-tactile perception module with a thickness of only 5mm, reaching an industry-leading level. Factories can adjust their production processes to match the downstream trend of thinner, smaller form factors.

2. Accessible business opportunities: Jihao operates an asset-light model: it designs products in-house and outsources production to third-party wafer foundries. In 2025, its smartphone biometric solution shipments reached 183.5 million units, and order volume will continue to grow as new businesses scale. Wafer foundries and module manufacturers can pursue cooperation opportunities with the company.

3. Development insights: AI-enabled intelligent terminals is a major long-term trend. Factories can proactively pursue digital upgrades, partner with leading technology providers and brands, participate deeply in new product R&D, and secure long-term stable growth by capturing early growth dividends in emerging tracks.

This article outlines industry trends and downstream customer pain points for service providers in the AI and intelligent terminal sectors. Key takeaways are as follows:

1. Industry development trends: Large model-powered perception and interaction is the core development direction of the intelligent terminal industry, with rapidly growing market demand. The application has expanded rapidly from the mature smartphone biometrics field to emerging tracks including smart glasses and embodied intelligence. In 2025, Jihao's technology service revenue from emerging segments grew over 600% year-on-year, reflecting strong market demand for technical services.

2. Core downstream customer pain points: When terminal brands enter new product categories, they generally lack in-house core algorithm and large model technical accumulation for AI perception and interaction, and need third-party service providers to provide integrated solutions from R&D to commercialization. This creates abundant market opportunities for specialized service providers.

3. Referenceable solution model: Jihao built a self-controlled AI perception and interaction large model, and adopts a joint R&D model with leading brands. This approach meets brands' customized requirements, builds industry benchmarks quickly, and enables scalable replication later, making its business model a highly valuable reference for technical service providers.

This article sorts out layout opportunities and risk mitigation insights for platform players including technology industry platforms and investment platforms. Key takeaways are as follows:

1. Track demand and investment attraction opportunities: AI perception and interaction is a core upgrading direction for the intelligent terminal industry, with both stable growth in mature businesses and rapid emergence of new segments. The track has already attracted布局 from multiple industry players and investment institutions including OPPO and Qiming Venture Partners, making it a high-quality segment for platform investment attraction.

2. Implementable platform service directions: Jihao's IPO fundraising plan includes investment in upstream and downstream industrial chains and integration of industrial resources, creating demand for industry docking and resource incubation services. Platforms can build dedicated investment attraction and service systems around the AI perception and interaction industrial chain to attract high-quality technology enterprises.

3. Risk mitigation tips: Emerging tracks such as smart glasses and embodied intelligence are still in the R&D stage and have not achieved large-scale commercialization, with relatively high uncertainty. When布局 these tracks, platforms should prioritize supporting mature projects that hold core technology and have secured stable cooperation with leading brands to reduce layout risks.

This article provides the latest industry updates on the commercialization of large AI models in the hardware sector for AI and technology industry researchers. Key takeaways are as follows:

1. New industry developments: Large AI models have achieved commercial落地 in intelligent terminal perception and interaction, and China has cultivated specialized players such as Jihao Technology, which ranks second in the market. Jihao recorded a 44.4% compound annual revenue growth from 2023 to 2025, the fastest in the industry, and commercial落地 has progressed faster than expected. The company has already expanded into cutting-edge fields including smart glasses and embodied intelligence, with leading brands actively participating in cooperation.

2. Research value of the innovative business model: Jihao has developed a unique path of "core large model capability reuse + benchmark co-creation with leading brands + scaled expansion across multiple categories". Leveraging the multi-modal capabilities of large models, it rapidly replicated its core capabilities from smartphones to multiple new product categories. This new model for AI落地 in hardware has high research value for studies on AI commercialization.

3. New research topics worth exploring: Jihao turned profitable just five years after founding, and has only completed two rounds of financing in total. This asset-light development path stands in stark contrast to many capital-burning AI startups. Its experience in cost control and commercialization pacing is also worthy of in-depth exploration by researchers.