天数智芯通过港交所聆讯

Core Viewpoint - TianShu ZhiXin Semiconductor Co., Ltd. is the first domestic company to achieve mass production of general-purpose GPU chips, focusing on continuous R&D and technological breakthroughs to establish core competitive advantages [2][3]. Product Development - TianShu ZhiXin launched its first general-purpose GPU, TianGai Gen1, in 2021, which is the first mass-produced general-purpose GPU in China and utilizes advanced 7nm process technology, breaking the long-standing foreign monopoly [3]. - The company has successfully introduced two product series: TianGai for training and ZhiKai for inference, with ZhiKai Gen1 and Gen1X achieving mass production in early 2023 [3]. Market Performance - The number of customers for TianShu ZhiXin increased from 22 in 2022 to 181 in 2024, with over 290 clients served across various sectors by mid-2025 [4]. - The shipment volume of general-purpose GPUs rose from 0.78 million units in 2022 to 1.68 million units in 2024, with 1.57 million units shipped in the first half of 2023, indicating strong market recognition [4]. Financial Growth - Revenue figures for TianShu ZhiXin from 2022 to 2024 are projected at 189 million yuan, 289 million yuan, and 540 million yuan, respectively, reflecting a compound annual growth rate of 68.8% [5]. - The revenue for the first half of 2023 was 324 million yuan, showing a year-on-year growth of 64.2% [5]. Investment and Funding - The company has received support from various notable investors, including Sequoia China and Princeville Capital, among others [5]. - The net proceeds from the IPO will primarily be used for product R&D, sales and marketing, and general corporate purposes [5].