Biren Technology started placement half a year after its listing: plans to raise HK$7 billion to accelerate the commercialization and production of next-generation GPGPU products

According to IT House news on July 5, Biren Technology issued an announcement on the Hong Kong Stock Exchange today, announcing a placement at a placement price of HK$46.2 per share and the issuance of 153 million new H shares. Based on this calculation, the total amount of funds raised by Biren Technology is HK$7.069 billion; the expected net amount of funds raised is HK$7.038 billion (IT Home Note: The current exchange rate is approximately 6.099 billion yuan). IT Home Note: Biren Technology was founded in 2019. It is a general intelligent chip design company that develops general graphics processing unit (GPGPU) chips and GPGPU-based intelligent computing solutions to provide the basic computing power required for artificial intelligence. Biren Technology was listed on the Hong Kong Stock Exchange on January 2, 2026, becoming the first GPU stock in Hong Kong. Biren Technology has thus become the first stock to be listed on the Hong Kong stock market in 2026. Biren Technology pointed out in the announcement that the rapid development of artificial intelligence and the explosive growth of token consumption continue to drive strong demand for GPGPU computing solutions. Such developments expand the addressable market and accelerate the commercialization of Biren Technology's next-generation GPGPU products faster than anticipated at the time of their launch. According to Biren Technology’s plan, the net proceeds from this placement will be used as follows: About 20% will be used to strengthen the research and development of new cutting-edge technology projects, including talent acquisition, intellectual property (IP) development and procurement, engineering tape-out, prototype testing and verification, and collaborative optimization with ecosystem partners; About 60% will be used to accelerate the commercialization and production of next-generation products , including customer sample delivery, verification deployment and workload optimization; development of rack-level and super-node (SuperPod) reference designs to respond to the market trend of transition to integrated cluster solutions; as well as expanding mass production scale and strengthening supply chain security. About 10% will be used for strategic investments and acquisitions. Key criteria for target screening include: technology synergies; business synergies in broadening customer channels, enriching product portfolios or improving supply chain security; reasonable valuations and identifiable return potential.