Core Viewpoint - Shanghai AI chip leader Suiyuan Technology has re-registered for IPO guidance with the Shanghai Securities Regulatory Commission, aiming for a second attempt at going public, now with CITIC Securities as the advisory institution, replacing China International Capital Corporation from the previous attempt [1][4]. Company Overview - Suiyuan Technology, established in March 2018, focuses on AI cloud computing chip development, with a current valuation of 20.5 billion yuan. The company has a strong shareholder base, including Tencent and the National Integrated Circuit Industry Investment Fund [3][4]. - The company has a registered capital of 335 million yuan and is led by founder and CEO Zhao Lidong. Its shareholding structure is relatively dispersed, with no controlling shareholder [4]. Industry Context - Suiyuan Technology specializes in the research and sales of AI training and inference chips, with product lines that include cloud AI training acceleration cards and inference acceleration cards. The demand for AI computing power is continuously growing, positioning Suiyuan as a significant player in the domestic AI chip sector [6]. - The IPO process is being closely monitored by the industry, with both Suiyuan Technology and CITIC Securities actively engaged in the listing guidance work, although a specific timeline for the IPO has not yet been disclosed [6].

Core Viewpoint - Shanghai AI chip leader Suiyuan Technology has re-registered for IPO guidance with the Shanghai Securities Regulatory Bureau, replacing the previous advisor, China International Capital Corporation, with CITIC Securities [1][3]. Group 1: Company Overview - Suiyuan Technology, established in March 2018, focuses on AI cloud computing chips and has a current valuation of 20.5 billion yuan, with notable shareholders including Tencent and the National Integrated Circuit Industry Investment Fund [2][3]. - The company specializes in the research and sales of AI training and inference chips, offering products such as cloud AI training acceleration cards and inference acceleration cards [5]. Group 2: IPO Process - This marks the second time Suiyuan Technology has initiated the IPO guidance process, having previously completed the registration in August 2024 with a different advisory firm [3]. - The company has a registered capital of 335 million yuan and a decentralized shareholding structure without a controlling shareholder [3]. - Both Suiyuan Technology and CITIC Securities have begun the IPO guidance work, although a specific timeline for the IPO has not yet been disclosed [6].