Group 1 - The core viewpoint of the article highlights the successful IPO of Wallan Technology (06082.HK), which is recognized as the first GPU stock in Hong Kong, with its share price rising significantly from the issue price of HKD 19.6 to a peak of HKD 42.88, representing an increase of over 118% [2] - Wallan Technology raised approximately HKD 5.375 billion through the global issuance of about 285 million H-shares, with the funds primarily allocated for R&D of intelligent computing solutions, commercialization, working capital, and general corporate purposes [2] - Despite continuous revenue growth over the past three years, Wallan Technology has reported significant losses, with cumulative losses reaching HKD 4.75 billion from 2022 to 2024 [2][3] Group 2 - The company's R&D expenditure has been notably high relative to its annual revenue, totaling HKD 2.73 billion from 2022 to 2024, with R&D spending accounting for 245.5% of annual revenue in 2024 [3] - Wallan Technology's market share in the Chinese intelligent computing chip market is currently low, at 0.16% for 2024, and 0.2% in the general GPU market, with expectations to reach 0.19% in the intelligent computing chip market by 2025 [3] - The Chinese intelligent computing chip market is highly concentrated, with Nvidia and Huawei HiSilicon commanding 94.4% of the market share, while the remaining market is fragmented, providing opportunities for growth for other participants [3]
港股GPU第一股，上市首日涨超100%