国产GPU稀缺标的壁仞科技通过港交所聆讯，在手订单总价值超12亿元

Core Viewpoint - Shanghai Birun Technology Co., Ltd. has officially passed the Hong Kong Stock Exchange hearing, aiming to become the "first GPU stock" in Hong Kong, focusing on self-developed GPGPU chips and intelligent computing solutions [1] Group 1: Business Performance - Birun Technology achieved significant revenue growth from 62.03 million to 336.8 million from 2023 to 2024, with a strong order backlog of over 1.2407 billion as of December 15, 2025 [1] - The company has commercialized specialized technology products since August 2022, with intelligent computing solutions contributing to revenue starting in 2023 [1] Group 2: Technological Innovation - Birun Technology has developed a GPGPU architecture tailored for large-scale AI workloads, implementing a "1+1+N+X" platform strategy, and has created the BR110 and upgraded BR166 chips [2] - The company ranks first among Chinese GPGPU firms with 1,158 patent applications and has a 100% authorization rate for 388 granted patents [2] Group 3: Market Position and Ecosystem - The management team includes top scientists and experienced business professionals, with the founder having over 10 years of experience in AI and hardware technology [3] - Birun Technology has established deep collaborations with major telecom operators and has served nine Fortune China 500 companies, five of which are also on the Fortune Global 500 list [3] Group 4: Industry Outlook - The Chinese intelligent computing chip market is expected to reach $50.4 billion by 2025, with the GPGPU market projected to hit $40.9 billion [4] - The Hong Kong stock market has been a leading platform for fundraising since 2025, providing strong capital support for technology companies [4]