Core Viewpoint - Shanghai Suyuan Technology Co., Ltd. has initiated the listing guidance process with CITIC Securities as the advisory institution, focusing on artificial intelligence cloud computing products [1] Company Overview - Shanghai Suyuan Technology was established on March 19, 2018, with a registered capital of 387 million yuan [1] - The legal representative is Zhang Yalin, and the company has no controlling shareholder [1] - Zhao Lidong and Zhang Yalin collectively control 28.14% of the voting rights through partnerships and have signed a concerted action agreement, making them the actual controllers of the company [1] Business Focus - The company specializes in artificial intelligence, aiming to create a computing foundation for general artificial intelligence [1] - It provides original innovations and proprietary AI acceleration cards, system clusters, and hardware-software solutions [1]

Core Insights - Shanghai Suyuan Technology Co., Ltd. is focused on artificial intelligence cloud computing products, aiming to provide a computing foundation for general artificial intelligence with original innovations and proprietary intellectual property [4][5] - The company has undergone a change in its advisory institution, citing changes in the capital market environment and strategic development needs as reasons for the adjustment [4] - Suyuan Technology has completed multiple phases of listing guidance, with the latest phase completed in September 2024, and is actively pursuing a listing on the Sci-Tech Innovation Board [4] Company Overview - Established on March 19, 2018, with a registered capital of 387.32 million yuan, the company is co-controlled by Zhao Lidong and Zhang Yalin, who hold a combined voting power of 28.14% [1][3] - The company operates in the software and information technology services industry, specifically focusing on AI computing solutions [1][3] Product Development - Suyuan Technology has released multiple generations of AI products, including the first inference product in 2020, second-generation training and inference chips in 2021, and plans for the third generation to be mass-produced in 2024 with an expected delivery of 50,000 units [5] - The company showcased its latest achievements in AI infrastructure and commercialization at the 2025 World Artificial Intelligence Conference, highlighting the large-scale application of its "Suyuan S60" AI inference card across various sectors [5] Leadership Background - Zhao Lidong, the founder and CEO, has over 20 years of experience in the semiconductor industry, including significant roles at AMD and Unisplendour [4][5] - Zhang Yalin, co-founder and COO, also has an extensive background at AMD, where he led the successful development and mass production of flagship processors [5]

Core Insights - Shanghai Suyuan Technology Co., Ltd. has resumed its listing guidance process on November 1, 2023, with a change in advisory firms from China International Capital Corporation to CITIC Securities, driven by changes in the capital market environment and the company's strategic development needs [1] - The company, a leading domestic GPU enterprise, aims to continue its progress towards listing on the Sci-Tech Innovation Board [1] - Suyuan Technology focuses on AI cloud computing products and aims to provide foundational computing power for general artificial intelligence, offering innovative AI acceleration cards, system clusters, and hardware-software solutions [1] Company Developments - Founded in March 2018, Suyuan Technology has released multiple generations of AI products, including the first inference product in 2020, second-generation training and inference chips in 2021, and plans for mass production of third-generation products in 2024, with an expected delivery of 50,000 cards that year [1] - The company has actively participated in building data center clusters in Gansu Qingyang and held a ceremony in August 2024 to light up a domestic cluster of 10,000 cards [1] Industry Context - During the 2025 World Artificial Intelligence Conference in July, the CEO of Suyuan Technology highlighted the significant advancements in China's AI industry over the past six years and emphasized the need for AI chip companies to transition from a technology product loop to a commercial loop for sustainable development [2] - Suyuan Technology's third-generation products have achieved large-scale commercialization, with the Suyuan S60 product reaching a deployment scale of 70,000 cards, positioning the company among the top tier in domestic card deployment [2] - The company supports over 300 application scenarios, including large language models and traditional AI models, and has contributed to the construction of five intelligent computing clusters, serving over 1 billion end users [2]