上海GPU芯片“四小龙”之一 成功赴港上市

Core Viewpoint - The successful IPO of Shanghai Tensu Zhixin Semiconductor Co., Ltd. marks a significant milestone in the rise of the domestic general-purpose GPU industry in China, with the company aiming to leverage its market position to drive innovation and support AI transformation across various sectors [2][4]. Group 1: IPO Details - Tensu Zhixin raised a total of HKD 3.7 billion through its IPO, with 25.43 million shares issued, and saw an oversubscription of approximately 414.24 times for the public offering and 10.68 times for the international offering [4]. - The company attracted 18 cornerstone investors, including industry leaders like ZTE Corporation and financial institutions such as UBS and Huaxia Fund, with a total subscription amount of HKD 1.583 billion [4]. Group 2: Financial Performance - From 2022 to 2024, the company's revenue is projected to grow from CNY 189 million to CNY 540 million, reflecting a compound annual growth rate (CAGR) of 68.8%. In the first half of 2025, revenue reached CNY 324 million, a year-on-year increase of 64.2% [4]. - As of June 30, 2025, the company has shipped over 52,000 units and expanded its customer base from 22 in 2022 to 290, with over 900 actual deployments in key sectors such as finance, healthcare, transportation, and manufacturing [4]. Group 3: Market Position and Strategy - Tensu Zhixin has successfully transitioned from the "concept validation" phase to a period of large-scale commercial realization, positioning itself as a leader in the domestic GPU market [5]. - Approximately 80% of the funds raised will be allocated to the research and commercialization of general-purpose GPU chips and AI computing solutions, while 10% will be used for sales and market expansion, and the remaining 10% for working capital and general corporate purposes [8]. - The company has established a complete general-purpose computing system and an ecosystem for GPU technology, becoming a key player in enabling AI applications across various industries [7][8].