Core Viewpoint - Wall Street technology company Biran Technology made its debut on the Hong Kong stock market on January 2, 2024, with an opening surge of 82.14%, reaching a peak increase of over 110% during trading, and achieving a market capitalization exceeding 90 billion HKD, marking it as the third GPU company to go public within a month after Moer Thread and Muxi Technology [2] Company Overview - Biran Technology was founded in September 2019 by Zhang Wen, the former president of SenseTime, who is recognized for his ability to gather talent and capital, positioning himself as a strategic leader in the industry [2][3] - The company aims to compete with industry giants like NVIDIA, despite initial skepticism from investors regarding its ambitious goals [2] Investment and Financing - Biran Technology has attracted over 3 billion CNY in investments from venture capital firms, with significant early investments from Qiming Venture Partners and IDG Capital [4][5] - The first round of financing was completed in December 2019, with Qiming Venture Partners investing 15 million USD at a pre-money valuation of 110 million USD [4] - By mid-2020, Biran Technology had completed four rounds of financing, raising approximately 2.9 billion CNY, with a pre-money valuation soaring to 6.06 billion CNY [7] Strategic Partnerships - Gree Group played a crucial role in Biran Technology's development by investing 140 million CNY and facilitating project implementation and team building [8] - Other notable investors include Country Garden, which invested 350 million CNY, and various top-tier investment firms such as Hillhouse Capital and Songhe Capital [9][10] Financial Performance - Biran Technology's revenue has shown steady growth, with figures of approximately 49,900 CNY in 2022, 6.203 million CNY in 2023, and projected 340 million CNY in 2024, although it still lags behind competitors Moer Thread and Muxi Technology [11] - The company has completed a total of 18.8 billion CNY in financing from 2021 to 2024, compared to 9.17 billion CNY and 3.95 billion CNY raised by its competitors during the same period [11] Market Position and Challenges - Despite its growth, Biran Technology faces significant challenges from NVIDIA, which reported global revenues of 130.5 billion USD for the fiscal year 2025, dwarfing the combined revenues of Biran Technology and its competitors [15] - The company aims to leverage its IPO funds to attract top talent and potentially pursue mergers and acquisitions to enhance its competitive position in the market [16]
最全梳理！壁仞科技上市 市值狂飙至900亿 揭秘背后资本版图丨创投智库