Core Viewpoint - Wall Street's Shanghai Birun Technology Co., Ltd. is progressing towards its IPO, aiming to become the first GPU stock in Hong Kong, with plans to use raised funds for R&D and commercialization of intelligent computing solutions [1] Group 1: Financial Performance - From 2022 to 2024, Birun Technology's revenue is projected to grow from RMB 499,000 to RMB 337 million, achieving a compound annual growth rate (CAGR) of 2500% [1] - In the first half of 2025, the company reported revenue of approximately RMB 58.9 million, marking a nearly 50% year-on-year increase [1] - The company incurred losses of RMB 1.474 billion, RMB 1.744 billion, and RMB 1.538 billion from 2022 to 2024, primarily due to non-cash changes in redemption liabilities [2] - Adjusted net losses for 2023 and 2024 are projected to be RMB 1.05 billion and RMB 770 million, respectively, indicating a narrowing trend [2] Group 2: Research and Development - Birun Technology's R&D expenditures from 2022 to 2025 are RMB 1.018 billion, RMB 886 million, RMB 827 million, and RMB 572 million, totaling RMB 3.302 billion during the reporting period [2] - The company has established a strong technical moat through continuous R&D investment and a highly skilled research team [2] Group 3: Talent and Market Position - The company has built a high-caliber R&D team, with 83% of employees engaged in R&D, and 78% holding master's degrees or higher from prestigious universities [3] - Birun Technology has provided solutions to nine Fortune China 500 companies, five of which are also listed in the Fortune Global 500 [3] - The AI chip market in China is expected to grow from RMB 142.54 billion in 2024 to RMB 1,336.79 billion by 2029, with a CAGR of 53.7% from 2025 to 2029 [3]
新股消息 | 收入年复合增长率 2500%，壁仞科技以超12亿在手订单锚定“港股 GPU 第一股”
Xin Lang Cai Jing·2025-12-18 10:41