BRIEF: GPU maker Biren Technology soars in Hong Kong trading debut

Shares of AI chipmaker Shanghai Biren Technology Co. Ltd. (6082.HK) opened up 82% at HK$35.70 in their Hong Kong trading debut on Friday, closing up 73% at HK$33.88 by the midday break. The company is the first new listing on the Hong Kong Stock Exchange in 2026 and also the city’s first listed maker of GPU chips used in many AI applications.

The company said it sold 284 million shares for HK$19.60 each, representing the top of its range, raising HK$5.58 billion ($717 million). The Hong Kong offering for local investors was oversubscribed by 2,347 times, reportedly attracting about 471,000 subscribers and setting a record for retail participation in any Hong Kong IPO over the past year. The international tranche was oversubscribed by about 25 times.

Often dubbed as one of China’s “four rising stars” in domestic GPUs, Biren Technology was founded by Zhang Wen, a former president of SenseTime. Its BR100 series chips are marketed as performing comparably with Nvidia’s H100. The company plans to launch its next-generation flagship chip, the BR20X, in 2026.

Biren said it will use about 85% of net proceeds from the listing for research and development, with a focus on next-generation products. Around 5% will go to commercial expansion, while the remaining 10% will be used for working capital and general corporate purposes.

By Lee Shih Ta

To subscribe to Bamboo Works weekly free newsletter, click here