Biren Technology, known as the "Four Domestic GPU Tigers," plans to go public in Hong Kong and is expected to become the "first GPU stock" in the Hong Kong stock market.

On December 17th, the listing hearing of Shanghai Boren Technology Co., Ltd. (hereinafter referred to as "Boren Technology") was approved. According to Chapter 18C of the listing rules, the company will be listed on the main board of the Hong Kong Stock Exchange, aiming to become the "first GPU stock in the Hong Kong stock market".

 

On the 15th, Boren Technology just received a notice of filing for overseas issuance and listing. According to the official website of the China Securities Regulatory Commission, Biren Technology plans to issue no more than 37245.8 million ordinary shares and list them for circulation on the Hong Kong Stock Exchange.

Biren Technology is the only company among the "Four Domestic GPU Tigers" to choose to list on the Hong Kong stock market with "full circulation". Prior to this, the company had filed for IPO guidance on the Science and Technology Innovation Board with the Shanghai Securities Regulatory Bureau in September 2024.

 

The prospectus introduces that Weiren Technology develops general-purpose graphics processing unit (GPGPU) chips and intelligent computing solutions based on GPGPU, providing the necessary basic computing power for artificial intelligence (AI). By integrating self-developed GPGPU based hardware and proprietary BIRENSUPA software platform, Weiren Technology's solution supports a wide range of AI model training and inference applications from the cloud to the edge.

The prospectus shows that the company's revenue has grown rapidly in recent years, but it is still in a continuous loss state due to high R&D investment and other factors. The IPO fundraising will mainly be used for the research and development upgrade of intelligent computing hardware and software platforms, commercialization of solutions, and supplementary operating funds, with a focus on promoting the development of next-generation chips such as BR20X and BR30X

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