Core Viewpoint - Shanghai-based GPU unicorn Hanbo Semiconductor has officially initiated its A-share IPO process, marking a significant step in its capital market journey [2] Company Overview - Hanbo Semiconductor was founded in December 2018 with a registered capital of 543 million yuan and is co-controlled by its founders Qian Jun and Zhang Lei, who collectively hold 42.1465% of the voting rights through 17 employee stock ownership platforms [2][5] - The company is in a "no controlling shareholder" state, indicating a diversified ownership structure [2] Market Context - The GPU sector is critical for high-performance computing and artificial intelligence, with applications in gaming, cloud computing, big data, and AI training and inference [2] - Hanbo Semiconductor is one of five domestic GPU companies that have started the A-share IPO process in the past year, alongside Biran Technology, Moore Threads, Muxi Co., and Granfi [2] Financial Highlights - Hanbo Semiconductor is valued at 10.5 billion yuan, making it one of the highest-valued companies in the GPU sector according to the 2025 Hurun Global Unicorn List [2] Product Development - The company has developed three core product lines: graphics rendering GPUs, data center AI GPUs, and edge AI inference GPUs, targeting high-performance computing fields such as intelligent computing centers, industrial simulation, autonomous driving, and smart cities [5] - Hanbo Semiconductor has released two generations of GPU chips: the first generation SV100 and the second generation SG100, with the latter completing its tape-out in 2023 [5] Recent Innovations - In 2022, Hanbo Semiconductor launched two significant inference card products: the VA10 for data centers and the VE1 for edge computing [6] - In 2023, the company introduced the Nanyu series GPU acceleration cards and six new products aimed at large models and generative AI, including the VA1L large model AI acceleration card and the VA12 high-performance generative AI acceleration card [6] Industry Outlook - According to Gartner's latest forecast, the global AI chip market, which includes GPUs, ASICs, and FPGAs, is expected to reach approximately $94-95 billion by 2025, representing a growth of about 30% from the estimated $71-73 billion in 2024, making it one of the fastest-growing segments in the semiconductor industry [6]