Group 1 - The core point of the article is the upcoming IPO of Wallran Technology, which is set to become the first domestic GPU company listed on the Hong Kong Stock Exchange, with a valuation of 20.9 billion yuan [1][25] - Wallran Technology specializes in developing general-purpose GPU chips and intelligent computing solutions, providing full-stack support for AI training and inference from cloud to edge [2][10] - The company has developed two key chips, the Bili 106 and Bili 110, designed for training and inference, with the Bili 106 supporting virtualization and hardware security, while the Bili 110 is optimized for edge inference [4][10] Group 2 - Wallran's revenue has grown significantly, from 500,000 yuan in 2022 to 337 million yuan in 2024, with a 50% year-on-year increase in the first half of this year, reaching 58.9 million yuan [12][16] - The company's gross profit has also increased, with gross profits of 500,000 yuan in 2022, 47.4 million yuan in 2023, and 179.2 million yuan in 2024, although the gross margin has fluctuated [14][16] - Wallran's operational model is a "fabless" approach, focusing on R&D and design while outsourcing chip production, which has positively impacted its financial metrics [11][12] Group 3 - The company has a strong leadership team, including founder Zhang Wen, who has a background in law and business, and other key members with extensive experience in the semiconductor industry [17][19] - Wallran has attracted significant investment, completing 10 rounds of financing since its establishment, with notable investors including Qiming Venture Partners and IDG Capital, leading to a valuation increase from 1.3 billion yuan shortly after founding to 20.9 billion yuan as of August this year [22][25] - The company aims to launch the second-generation architecture Bili 20X series by 2026 and the Bili 30X and 31X chips by 2028, indicating a strong pipeline for future product development [6][10]
港股通用GPU第一股也冲刺了，哈佛博士带队，估值209亿
3 6 Ke·2025-12-18 11:22