壁仞科技完成中国证监会备案 冲刺“港股GPU第一股”

Core Viewpoint - Wall Street's Wall Street Journal reported that Shanghai Birun Technology Co., Ltd. has received approval for overseas listing, aiming to issue up to 372,458,000 ordinary shares and potentially become the "first GPU stock in Hong Kong" [1][4]. Company Overview - Birun Technology is a provider of general intelligent computing solutions, focusing on its self-developed Birun™ series GPU products to offer robust, secure, and efficient computing infrastructure across various industries [1][4]. - Since its establishment in 2019, the company has adhered to an original core architecture and pioneered Chiplet high-performance chips, building a technology system that promotes soft and hard collaborative innovation [1][4]. Technological Advancements - As of June 30, 2025, Birun Technology has applied for nearly 1,200 patents globally and has received over 430 patent authorizations, ranking first among Chinese general GPU companies [2][5]. - The company has won the highest award at the World Artificial Intelligence Conference, the SAIL Award, twice and has completed commercial deployment of optical interconnect technology [2][5]. Market Position and IPO Significance - The IPO in Hong Kong is seen as a significant step for Birun Technology, helping to broaden capital market financing channels and further solidify its industry-leading position [2][5]. - The Hong Kong stock market has become an important channel for international financing for Chinese technology companies, and Birun Technology's listing is expected to fill a gap in the GPU sector, providing new investment opportunities for investors in the Chinese AI industry chain [2][5]. Industry Context - Analysts from China International Capital Corporation believe that recent reforms in the Hong Kong market are likely to attract more capital, facilitating a positive cycle between quality companies and funding [3][6]. - Birun Technology's listing aligns with market demand for hard technology assets and is expected to enhance its core GPU technology research and development, contributing to the construction of domestic computing infrastructure and China's participation in global technological competition [3][6].