- Biren Technology, a Shanghai-based AI chip manufacturer, plans an IPO in Hong Kong aiming to raise up to 4.85 billion HKD (≈623 million USD).
- The company expects to issue 247.7 million shares at a price between 17.00 and 19.60 HKD per share.
- Biren shares are expected to begin trading in Hong Kong on January 2, 2026.
- Biren is one of China’s “Four Little Dragons” of GPUs, alongside Moore Threads and MetaX.
- The IPO takes place as Chinese AI startups accelerate fundraising due to increasingly fierce competition.
- Biren’s success could fuel a new wave of AI IPOs, revitalizing the Hong Kong market after years of quiet.
- Last weekend, generative AI startup MiniMax Group filed for listing after passing the vetting process of the Hong Kong Stock Exchange.
- Another LLM company, Knowledge Atlas Technology (Zhipu AI), is also racing for an IPO, though the timing and size have not been announced.
- Biren, MiniMax, and Zhipu are all in the early commercialization stage and are not yet profitable due to heavy R&D costs.
- Beijing has made tech autonomy a strategic priority in its next 5-year plan, creating momentum for AI and semiconductors.
- Previously, Moore Threads surged 425% on its first trading day, while MetaX rose nearly 8-fold in Shanghai.
- Hong Kong is on track to regain its status as a global IPO hub.
- In the first 11 months of 2025, total IPO funds raised reached 259.4 billion HKD, more than triple the previous year.
- KPMG forecasts that 2026 will continue to be a strong year for IPOs, especially for AI companies as the technology matures and spreads.
📌 Biren Technology, a Shanghai-based AI chip manufacturer, plans an IPO in Hong Kong aiming to raise up to 4.85 billion Hong Kong dollars (≈623 million USD). Biren is one of China’s “Four Little Dragons” of GPUs, alongside Moore Threads and MetaX. With previous deals surging 400–800% and total Hong Kong IPOs reaching 259.4 billion HKD in 2025, investors are betting big on chip autonomy and AI. Despite not yet being profitable, AI companies are seen as the main drivers for the new IPO cycle in Asia.
