Core Viewpoint - Wall Street's GPU first stock, Birun Technology, has concluded its IPO with a staggering oversubscription rate of 1583.50 times, raising approximately HKD 42.1-48.5 billion [1] Group 1: IPO Details - Birun Technology (06082) has recorded a margin amount of approximately HKD 384.379 billion [1] - The company issued 247.69 million shares with a price range of HKD 17.00 to 19.60 per share [1] - The pricing results are expected to be announced on December 30, 2023, with the listing scheduled for January 2, 2026 [1] Group 2: Investor Participation - The IPO attracted a prestigious lineup of cornerstone investors, including Qiming Venture Partners, Ping An Life, and LionGlobal, with a total subscription amount of approximately HKD 28.99 billion, accounting for nearly 64% of the global offering [1] Group 3: Company Performance - Birun Technology is recognized as a leading provider of general intelligent computing solutions in China, with revenue projected to grow from RMB 499,000 in 2022 to RMB 337 million by 2024, reflecting a compound annual growth rate of 2500% [1] - As of December 15, 2025, the company has an order backlog amounting to approximately RMB 1.241 billion [1]

Core Viewpoint - Wall Street's GPU first stock, Birun Technology, has completed its IPO with significant oversubscription, indicating strong market interest and potential for future growth [1] Group 1: IPO Details - Birun Technology (06082) recorded a margin amount of approximately HKD 384.379 billion, with an oversubscription rate of 1583.50 times [1] - The company is issuing 247.69 million shares, with a price range of HKD 17.00 to HKD 19.60 per share, aiming to raise approximately HKD 4.21 to HKD 4.85 billion [1] - The pricing results are expected to be announced on December 30, and the company will be listed on January 2, 2026, marking the largest fundraising scale for a new stock since the implementation of the Hong Kong Stock Exchange's Chapter 18C listing system [1] Group 2: Investor Participation - The IPO has attracted a prestigious lineup of cornerstone investors, including Qiming Venture Partners, Ping An Life, and LionGlobal, with a total subscription amount reaching approximately HKD 28.99 billion, accounting for nearly 64% of the global offering size [1] Group 3: Company Performance - Birun Technology is a leading provider of general intelligent computing solutions in China, with revenue projected to grow from RMB 499,000 in 2022 to RMB 337 million in 2024, reflecting a compound annual growth rate of 2500% [1] - As of December 15, 2025, the company has an order backlog amounting to approximately RMB 1.241 billion [1]

Group 1 - The company, Birentech, plans to issue 247,692,800 H-shares on the Hong Kong Stock Exchange, with a pricing range between HKD 17 and HKD 19.6 per share [1] - The expected trading start date for the H-shares is January 2, 2026 [5] Group 2 - The company will announce the allocation results of the public offering through various channels, including its website and the Hong Kong Stock Exchange website [5] - The allocation results will be available for public inquiry from December 31, 2025, to January 6, 2026 [5]

Core Viewpoint - Shanghai Birun Technology Co., Ltd. is set to launch its IPO today, aiming to become the "first GPU stock" on the Hong Kong Stock Exchange with the stock code "06082.HK" [1] Group 1: IPO Details - Birun Technology plans to issue 247.69 million shares at a price range of HKD 17.00 to HKD 19.60 per share, targeting to raise between HKD 4.21 billion and HKD 4.85 billion [1] - The proceeds from the IPO will be allocated as follows: 85% for R&D of intelligent computing solutions, 5% for commercialization of these solutions, and 10% for working capital and other general corporate purposes [1] Group 2: Investor Participation - The company has secured 23 cornerstone investors who have collectively subscribed to USD 372.5 million, including major asset management firms, leading domestic public funds, insurance capital, international long-term funds, and well-known hedge funds [1] - Notable investors include Qiming Venture Partners, Shanghai Guotou Xian Dao, Gree Group, Dahengqin Group, and China Ping An, indicating strong interest from reputable venture capital, state-owned, and industrial institutions [1]