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<IPO>AI Chipmaker Biren Technology Passes Listing Hearing; Interim Losses Widen to RMB1.6B
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Biren Technology, one of China's domestic GPU big four and an AI chip developer, has passed the Hong Kong Stock Exchange's listing hearing, with CICC, Ping An Securities (Hong Kong) and BOCI being its joint sponsors. Earlier foreign media reports indicated that Biren Technology will commence its Hong Kong IPO process within the coming weeks, with the IPO potentially starting as early as this month and listing scheduled for January 2026. The Company aims to raise over US$300 million. According to post hearing data, as of the interim period ended June 2025, Biren Technology's revenue amounted to approx. RMB58.903 million, up 49.9% YoY. Loss for the period exceeded RMB1.6 billion, widening by over 80% from the same period last year. Mon-IFRS adjusted net loss amounted to RMB551 million. Since 2019, the company has conducted multiple rounds of financing, bringing in investors including Qiming Venture Partners, COUNTRY GARDEN (02007.HK)'s Country Garden Venture Capital, Sky9 Capital and PING AN (02318.HK). AAStocks Financial News Website: www.aastocks.com |
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