Core Viewpoint - The article highlights the IPO progress of the domestic GPU company, Hanbo Semiconductor, which has initiated its A-share IPO counseling with CITIC Securities as the advisory institution [1]. Group 1: Company Overview - Hanbo Semiconductor, founded in December 2018, has a registered capital of 543 million yuan and is controlled by co-founders Qian Jun and Zhang Lei, who collectively hold 42.1465% of the voting rights [6][7]. - The company specializes in providing full-stack chip solutions for intelligent core computing and graphics rendering, with proprietary core IP and two generations of GPU chips [8][9]. - Hanbo's product lineup includes the server-level AI inference chip SV102 and the second-generation GPU chip SG100, designed under the Vast Unified Computing Architecture (VUCA) [9][10]. Group 2: Financial and Investment Background - Hanbo Semiconductor has completed several rounds of financing before its IPO, raising a total of several billion yuan, with notable investors including China Internet Investment Fund, Kuaishou, Alibaba, and MediaTek [2][3][30]. - The company's valuation has reached 10.5 billion yuan according to the Hurun Research Institute's 2025 Global Unicorn List [4][5]. Group 3: Talent and Leadership - The company boasts a research and development team of over 500 people, with more than 80% of its staff in R&D roles and over 70% holding master's degrees or higher [15]. - Co-founders Qian Jun and Zhang Lei have significant backgrounds in AMD, with Qian having nearly 30 years of experience in high-end chip design [16][17][21][23]. Group 4: Industry Context - The article notes that the past year has seen a surge in IPO activities among domestic GPU manufacturers, with companies like Suiruan Technology and Biran Technology also initiating their IPO processes [32][33][35]. - The competition for becoming the first domestic GPU stock is intensifying, as companies like Moer Thread and Muxi Co. have also entered the IPO counseling phase [38][39].