“港股GPU第一股”要来了！壁仞科技通过港交所上市聆讯

Core Viewpoint - Shanghai Birun Technology Co., Ltd. (Birun Technology), a domestic GPU company, is progressing towards its IPO on the Hong Kong Stock Exchange, following the successful hearing update on December 17, 2023 [1][3]. Company Overview - Birun Technology was founded in 2019 and is recognized for developing high-performance general-purpose GPUs, aiming to create a self-developed high-performance GPU hardware and software ecosystem [3]. - The company has consistently recorded net losses since its inception, with primary revenue sources including product sales, support or extended warranty services, and rental income from intelligent computing clusters [3]. Financial Performance - Financial data shows that Birun Technology's revenue is projected to grow from 499,000 yuan in 2022 to 3.37 billion yuan in 2024, while net losses are expected to be 1.47 billion yuan, 1.74 billion yuan, and 1.54 billion yuan for the same years [3][5]. - The increase in revenue from 2022 to 2023 is attributed to the rise in income from the company's intelligent computing solutions, which began generating revenue in 2023 after the commercialization of specialized technology products in August 2022 [5]. Market Position - Birun Technology is part of a group of four domestic GPU companies, often referred to as the "Four Little Dragons of Domestic GPUs," alongside Moore Threads, Muxi Co., and Suiruan Technology, all of which are making progress in their respective IPO processes [6]. - If Birun Technology's IPO proceeds smoothly, it will become the first GPU stock in the Hong Kong market, filling a significant gap in the GPU sector [7].