通用GPU企业天数智芯启动港股招股 2026年1月8日上市

Core Viewpoint - Shanghai Tensu Zhixin Semiconductor Co., Ltd. has officially launched its IPO, aiming to raise approximately HKD 3.7 billion with a market capitalization of HKD 35.442 billion upon listing on the Hong Kong Stock Exchange [1] Group 1: IPO Details - The IPO will run from December 30, 2025, to January 5, 2026, with shares expected to be listed on January 8, 2026, under the stock code "9903" [1] - The company plans to issue a total of 25,431,800 H-shares, with 2,543,200 shares available for public offering in Hong Kong and 22,888,600 shares for international offering [1] Group 2: Investor Participation - A cornerstone team of 18 top investors has been established, with a total subscription amounting to HKD 1,583,195,754, including notable firms such as ZTE Corporation (Hong Kong), UBS AM Singapore, and Sequoia China [3] - The diverse and collaborative shareholder matrix reflects strong confidence in the company's potential to deliver on the promise of domestic general-purpose GPUs [3] Group 3: Company Performance and Growth - The number of clients served by the company has increased from 22 to 181 between 2022 and 2024, demonstrating significant commercial success [5] - Revenue figures for 2022, 2023, and 2024 are projected to be HKD 189 million, HKD 289 million, and HKD 540 million, respectively, indicating a compound annual growth rate of 68.8% [5] - The company has achieved a substantial increase in product shipments, from 7,800 units in 2022 to 16,800 units in 2024, with 15,700 units shipped in the first half of 2025 [5] Group 4: Market Context - The domestic general-purpose GPU sector is gaining recognition in the capital market, with a shift in valuation focus towards sustainable technological assets and delivery capabilities [5] - The IPO represents a significant opportunity for global investors to engage with a validated domestic GPU player, enhancing China's capabilities in the AI infrastructure domain [5]