Core Viewpoint - Chinese chip design company, Lianqi Technology, is seeking to raise up to approximately $902 million (about 7 billion HKD) through a Hong Kong IPO, highlighting the trend of Chinese tech companies leveraging capital markets for expansion amid the AI boom [1]. Group 1: IPO Details - Lianqi Technology plans to issue around 65.9 million shares at a maximum price of 106.89 HKD per share, which represents a discount of at least 41% compared to its latest closing price of 162.18 RMB on the Shanghai A-share market [1]. - The company expects its shares to begin trading on the Hong Kong Stock Exchange on February 9 [1]. - The IPO has received strong support from cornerstone investors, including Alibaba and JPMorgan, with commitments totaling $450 million [1]. Group 2: Financial Performance - Lianqi Technology anticipates a net profit of 2.15 billion to 2.35 billion RMB for the fiscal year 2025, representing a year-on-year growth of 52.29% to 66.46% [4]. - The expected net profit, excluding non-recurring gains and losses, is projected to be between 1.92 billion and 2.12 billion RMB, with a potential increase of nearly 70% [4]. - The significant growth is attributed to the booming demand driven by the AI industry, particularly for interconnect chips, as global AI infrastructure development accelerates [4]. Group 3: Market Context - Lianqi Technology's IPO contributes to the heightened activity in the Hong Kong IPO market, which recorded a fundraising total of $5 billion in January, marking the highest amount for that month in history [7]. - Another chip manufacturer, Aixin Yuan Zhi Semiconductor, is also seeking to raise 2.96 billion HKD through a Hong Kong IPO, further indicating the strong financing demand among AI-related Chinese companies [7].

这笔交易的其他基石投资者还包括苏格兰资产管理公司Aberdeen Group Plc、韩国的Mirae Asset Securities Co.以及瑞银的资产管理部门。据报道，澜起科技最早将于周五开始接受投资者认购。 澜起科技成立于2004年，专注于设计用于加速数据中心和AI加速器数据流动的芯片。该公司目前估值 约为220亿美元，其在股票在去年录得73%的涨幅。 盈利预期强劲，香港IPO市场回暖 彭博调查的分析师数据显示，澜起科技的盈利增长路径清晰，这为其高估值提供了支撑。该公司2024年 实现利润14亿元人民币（约合1.96亿美元）。分析师预计，随着AI基础设施建设需求的持续释放，这一 关键财务指标在2025年可能升至23亿元人民币，并在2026年进一步增长至33亿元人民币。 澜起科技的上市将进一步推高香港新股市场创纪录的1月表现。彭博汇编的数据显示，受中国AI相关企 业融资需求的推动，香港市场在2026年的前两周已筹集了43亿美元资金。 据报道，中国芯片设计公司澜起科技已锁定包括阿里巴巴和摩根大通资产管理在内的重量级基石投资 者，这一进展显示出市场对这一人工智能相关股票发行抱有强烈需求。 据媒体援引知情人 ...