港股GPU第一股，上市首日最高涨超117%

Core Viewpoint - Wallan Technology (06082.HK), known as the "first GPU stock in Hong Kong," debuted on the Hong Kong Stock Exchange on January 2, 2023, with a significant opening price increase of 82.14% from its issue price of HKD 19.6 to HKD 35.7, reaching a market capitalization of over HKD 900 billion at its peak [1][4]. Group 1: Company Overview - Wallan Technology is one of the major AI chip manufacturers in China, having globally issued approximately 285 million H-shares, raising a net amount of HKD 5.375 billion, primarily for R&D of intelligent computing solutions and general corporate purposes [4]. - The company has experienced continuous revenue growth over the past three years, with revenues of HKD 499,000, HKD 62.03 million, and HKD 337 million from 2022 to 2024, but has also faced significant losses of HKD 14.74 billion, HKD 17.44 billion, and HKD 15.38 billion during the same period, totaling HKD 47.5 billion in cumulative losses [4]. Group 2: Market Position - The market share of domestic GPU manufacturers, including Wallan Technology, remains low compared to overseas giants, with Nvidia and Huawei HiSilicon accounting for 94.4% of the Chinese intelligent computing chip market revenue in 2024 [5]. - Wallan Technology's market share in the Chinese intelligent computing chip market is projected to be 0.16% in 2024 and 0.19% in 2025, while its share in the general GPU market is expected to be 0.2% [5]. - The Chinese intelligent computing chip market is expected to see its share from domestic companies rise from approximately 20% in 2024 to about 60% by 2029, indicating potential growth opportunities for Wallan Technology and other players in the market [5].