en.Wedoany.com Reported - Biren Technology announced a placement of 153 million new H-shares at HK$46.2 per share, with expected net proceeds of approximately HK$7.038 billion, equivalent to about RMB 6.099 billion at current exchange rates. The total fundraising amount for this placement reaches HK$7.069 billion, as disclosed in a filing to the Hong Kong Stock Exchange today.

Public information shows that Biren Technology was founded in 2019, with its core business focusing on General Purpose Graphics Processing Unit (GPGPU) chips and intelligent computing solutions based on this technology, providing fundamental computing power support for artificial intelligence scenarios. The company was listed on the Hong Kong Stock Exchange on January 2, 2026, becoming the first GPU stock in Hong Kong and the first listed stock in Hong Kong in 2026.

Biren Technology explained in the filing that the rapid development of the artificial intelligence industry and the exponential growth in token consumption continue to drive up market demand for GPGPU computing solutions. This trend has not only expanded the potential market space but also significantly accelerated the commercialization process of next-generation GPGPU products compared to expectations at the time of listing, thereby creating the need for this placement financing.

According to the fund allocation plan disclosed in the filing, approximately 20% of the net proceeds from this placement will be invested in cutting-edge technology research and development projects, specifically covering talent acquisition, intellectual property development and procurement, engineering tape-outs, prototype testing and verification, and joint optimization with ecosystem partners. Approximately 60% of the funds will be used to accelerate the commercialization and mass production of next-generation products, including customer sampling, verification deployment and workload optimization, developing rack-level and SuperPod reference designs for integrated cluster solutions, while expanding production scale and strengthening supply chain security. Additionally, approximately 10% will be used for strategic investments and acquisitions, with candidate targets required to meet business synergies in areas such as technology alignment, channel expansion, product enrichment, or supply chain security, and must have reasonable valuations with identifiable return potential. The remaining approximately 10% will be used as working capital and for general corporate purposes.