腾讯重金押宝 燧原科技冲刺科创板IPO 公开发行拟融资60亿元
Sou Hu Cai Jing·2026-01-23 17:34

Core Viewpoint - Shanghai Suyuan Technology Co., Ltd. has received acceptance for its IPO on the Sci-Tech Innovation Board, marking the first IPO acceptance in A-shares for 2026 [1] Group 1: IPO Details - The company plans to raise 6 billion yuan through its public offering, with CITIC Securities as the sponsor [3][4] - The funds will be used for the research and development of fifth and sixth generation AI chip series, business expansion, and supply chain security [4][5] Group 2: Company Background - Founded in March 2018, Suyuan Technology is the earliest established and latest IPO company among the "Four Little Dragons" of domestic GPUs [3][12] - The company has developed four generations of cloud AI chips and has become a leading enterprise in China's cloud AI chip market [6][7] Group 3: Financial Performance - From 2022 to the first three quarters of 2025, the company reported revenues of 90.1 million yuan, 301 million yuan, 722 million yuan, and 540 million yuan, with a compound annual growth rate of 183.15% [9] - The company has incurred net losses of 1.116 billion yuan, 1.665 billion yuan, 1.51 billion yuan, and 888 million yuan during the same period [9] Group 4: Market Position and Technology - As of September 2025, the company held 262 domestic invention patents and participated in over 10 national and local technology projects [10] - The company has a market share of approximately 1.4% in China's AI accelerator card market, ranking among the top domestic AI chip manufacturers [9] Group 5: Competitive Landscape - The global AI chip market is dominated by NVIDIA, which holds about 76% market share in AI accelerator cards as of 2024 [13] - The "Four Little Dragons" of domestic GPUs, including Suyuan Technology, are focusing on different aspects of GPU development, with Suyuan emphasizing cloud AI training and inference products [12][13] Group 6: Future Prospects - The company aims to become a leader in general artificial intelligence infrastructure, focusing on original innovation and sustainable development [6] - Suyuan Technology's products have been widely commercialized in various internet AI scenarios, supporting the transition from traditional AI models to large-scale AI models [14]