IPO雷达｜GPU企天数智芯被要求补充材料，股权变动合规性、业务资质许可等遭追问

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has requested supplementary materials from 19 companies, including Tensu Zhixin, which is preparing for an IPO in Hong Kong. The funds raised will focus on R&D, sales, and marketing efforts [1]. Group 1: Regulatory Requirements - The CSRC has mandated that Tensu Zhixin provide legal opinions on the legality of its establishment and shareholding changes [2]. - The company must clarify the operational status of its subsidiaries, particularly regarding value-added telecommunications services, and confirm compliance with foreign investment regulations [2]. - Additional information is required on the stock incentive plan and any potential rights issues related to shares held by shareholders participating in the "full circulation" [3][4]. Group 2: Company Overview - Tensu Zhixin, established in 2015, specializes in general GPU products and AI computing solutions, with its product lines including the Tianhai and Zhikai series [4]. - The company has reported revenues of 189 million yuan, 289 million yuan, 540 million yuan, and 324 million yuan for the years 2022 to 2024 and the first half of 2025, reflecting a compound annual growth rate of 68.8% from 2022 to 2024 and a year-on-year growth of 64.2% in the first half of 2025 [4]. - Despite significant revenue growth, Tensu Zhixin has not yet achieved profitability, with net losses of 554 million yuan, 817 million yuan, 892 million yuan, and 609 million yuan during the same periods, totaling a cumulative loss of 2.872 billion yuan [4].