起步800亿，谁在“港股GPU第一股”身上赚的最多？

Core Viewpoint - The successful IPO of Biren Technology marks a significant milestone in the domestic GPU sector, with substantial returns for early investors and a promising outlook for future growth in the AI computing market [2][9]. Investment Performance - Five key investors in Biren Technology have achieved paper returns exceeding 1 billion RMB, showcasing the lucrative potential of investments in domestic GPU companies [5][9]. - The IPO raised a total of 55.83 billion HKD, making it the largest fundraising project since the implementation of the Hong Kong Stock Exchange's 18C rules, indicating strong institutional confidence in the domestic GPU market [9]. Company Background and Financing - Biren Technology has completed 10 rounds of financing since its establishment in 2019, raising over 5 billion RMB, with a diverse range of investors including venture capital, state-owned platforms, and large financial institutions [6][9]. - The company has attracted significant investment from both early-stage and institutional investors, demonstrating a long-term commitment to supporting its growth through various stages of development [6][7]. Investor Returns - Notable returns include Qiming Venture Partners, which invested in the Pre-A round and held 3.89% of the company post-IPO, with a market value of approximately 2.883 billion RMB [7]. - Country Garden Venture Capital's investment of about 350 million RMB resulted in a return of approximately 1.74 billion RMB, reflecting a nearly 6x return on investment [7]. - Other investors like Yunji Capital and Gree Group also reported significant returns, with Gree achieving a return multiple exceeding 10x [8][9]. Technological Advancements - Biren Technology launched its first general-purpose GPU chip, BR100, in 2023, achieving peak performance at the PFLOPS level, and has developed a complete ecosystem with its software platform BIRENSUPA [13][15]. - The company has positioned itself as a leader in the domestic GPU market, focusing on comprehensive solutions rather than just individual chip performance, which enhances its competitive edge [15]. Future Prospects - Biren Technology plans to pursue an A-share listing in the future, indicating its ambition for further growth and expansion in the capital markets [14][16]. - The ongoing trend of domestic GPU companies entering the public market suggests a competitive landscape that will increasingly focus on financial performance and valuation metrics [16].