壁仞科技获赴港上市

Core Viewpoint - Wallen Technology is set to issue up to 37.2458 million shares for overseas listing on the Hong Kong Stock Exchange, marking a significant step in its IPO process and positioning it as the first general GPU company to list in Hong Kong, filling a gap in the market for GPU assets [1] Group 1: Company Overview - Founded in 2019, Wallen Technology is a leading enterprise in the field of general intelligent computing solutions, focusing on the self-developed Walli™ series GPU products to support digital transformation across various industries [1] - The company emphasizes core technology independence and has developed a full-stack technology system based on its original architecture, Walli, to promote the construction of a domestic intelligent computing industry ecosystem [1] Group 2: Technological Innovation - Wallen Technology's core competitiveness lies in technological innovation and patent accumulation, with nearly 1,200 patent applications globally and over 430 authorized patents, leading the domestic GPU industry [2] - The Walli™ BR100 series general GPU chip utilizes advanced 7nm process technology and 2.5D CoWoS packaging, achieving over three times the core performance of mainstream products and supporting PCIe 5.0 and CXL communication protocols [2] Group 3: Market Applications - The company's products are widely used in key industries such as AI data centers, telecommunications, energy utilities, fintech, and the internet, with large-scale deployments across various intelligent computing clusters in China [3] - Wallen Technology has successfully supported the training of large models on domestic GPU platforms, significantly reducing reliance on overseas GPU technology [3] Group 4: Industry Context - The Hong Kong stock market has become a core platform for international financing of Chinese tech innovation enterprises, with significant capital flowing into AI and hard tech sectors, providing ample opportunities for quality chip companies [4] - Wallen Technology's IPO is seen as a crucial opportunity for deepening industry layout and enhancing its capabilities in technology research and production expansion [4] Group 5: Future Prospects - The global AI computing power competition is intensifying, and while short-term easing of export restrictions on H200 chips may alleviate some computing power shortages, the long-term trend of domestic computing power substitution remains unchanged [5] - Wallen Technology's push to become the first GPU company listed in Hong Kong is not only a milestone for the company but also a catalyst for accelerating the domestic GPU industry's integration with global capital markets [5]