On January 2, Biren Technology was listed on the Main Board of The Stock
Exchange of Hong Kong under the stock code [06082.HK](https://06082.hk/). As
the first new listing of 2026 in Hong Kong, Biren Technology priced its shares
at HK$19.60 each, raising a total of HK$5.583 billion. In early trading, the
share price surged as much as 118% to HK$42.88, pushing the company's market
capitalization above HK$100 billion. With this successful listing, Biren
Technology not only became the "first GPU stock in Hong Kong" but also marked
the largest IPO since the implementation of the Chapter 18C listing regime for
specialist technology companies in Hong Kong.
In his listing day speech, Zhang Wen, Founder, Chairman, and CEO of Biren Technology, said: "This is a better beginning, and it also means shouldering greater responsibility. Going forward, Biren Technology will continue to increase R&D investment, fully advance the development and iteration of full-stack, independently controllable products, build a comprehensive domestic computing power ecosystem, and strive to enhance the security, stability, and resilience of China's AI computing industry, while leading and empowering high-quality development of the artificial intelligence industry."
Gaorong Ventures participated in Biren Technology's Pre-B round financing in 2020. Biren Technology is also the ninth portfolio company of Gaorong Ventures to successfully list on the Hong Kong stock exchange within the past 12 months.
**A Leader in Advanced Technology: Full-Stack Independent Control**
From its founding in 2019—inspired by the spirit of "standing like a towering cliff" at the foot of Mount Wuyi and starting its journey on the banks of the Huangpu River—to today's listing ceremony on the shores of Hong Kong, Biren Technology has devoted six years of full "chip" commitment to the domestic chip journey. It has carved out a path of independent innovation in the field of general-purpose large-compute chips—through its proprietary original chip architecture, building a full-stack software ecosystem, and leading industry trends in large-compute chiplet and optical interconnect technologies. By persistently developing a high-performance GPU software and hardware system from the ground up, Biren has achieved full-link independent control, from high-end AI chips to computing clusters.
Biren Technology has gathered nearly 1,000 top-tier talents from around the world and accumulated strong proprietary technologies and engineering capabilities. Within just three years, the company advanced its first product from design to commercialization, demonstrating world-class R&D efficiency through outstanding product performance. Public data show that as of 2025, Biren Technology has filed over 1,500 patent applications across multiple countries and regions—ranking first among Chinese general-purpose GPU companies—and has been granted more than 600 patents, placing it among the top in the Chinese GPU sector. Its invention patent grant rate stands at 100%, the highest among domestic enterprises. In addition, Biren Technology has twice received the highest award—the SAIL Award—at the World Artificial Intelligence Conference, took the lead in commercial deployment of optical interconnect technology, and has been recognized as a National Key "Little Giant" enterprise (specialized and sophisticated SME).
**Domestic Computing Power Empowers All Industries: Entering a New Phase of Scalable Growth**
With practical, reliable, and innovative products and solutions, Biren Technology's products have been deployed in key industries including AI data centers, telecommunications, AI solutions, energy and utilities, fintech, and internet services. They have been scaled across multiple AI computing clusters nationwide, effectively supporting core application scenarios such as AI training, inference services, and scientific research. The customer base covers nine Fortune China 500 companies (including five Fortune Global 500), and Biren has achieved scaled commercial deployment of domestic computing clusters with all three major telecom operators—closing the loop from technological breakthroughs to market validation.
Since the official commercialization of its Bili™ chip products in 2023, Biren Technology has demonstrated strong growth momentum. Revenue grew from RMB 62.03 million that year to RMB 337 million in 2024. With the mass production and market launch of the Bili™ 166 chip product, Biren achieved another leap in growth in 2025. As of December 15, 2025, the company's order backlog reached RMB 1.241 billion. Beyond its existing product portfolio, Biren plans to launch the BR20X series, a next-generation flagship data center chip developed on its second-generation architecture, for cloud training and inference, with commercial availability expected in 2026, which is poised to unlock significant further market potential.
**From Follower to Runner-Up: Building a Domestic Intelligent Computing Industry Ecosystem**
2026 marks the first year of the "15th Five-Year Plan" period. The "Recommendations for the 15th Five-Year Plan" highlight artificial intelligence development as a future priority, with the term "artificial intelligence" mentioned eight times and "computing power" twice, calling for AI to lead changes in research paradigms and seize the high ground in AI industrial applications.
China is deeply implementing the "AI+" initiative, creating broad application scenarios for AI computing chips and driving explosive growth in demand for various types of computing chips. Against the backdrop of national strategy and accelerating domestic substitution, Biren Technology's technical strength and product portfolio are well aligned with policy directions and the urgent market need for independent and controllable computing power. Seizing this development opportunity, Biren's Hong Kong listing will raise funds to accelerate next-generation product iteration and technological innovation, including the development of intelligent computing hardware, software platform upgrades, and commercialization of intelligent computing solutions, all with the long-term goal of driving technological progress and accelerating AI applications.
Standing at a brand new starting point, Biren Technology will unswervingly pursue its strategic mission of "domestic chip design, domestic manufacturing, domestic deployment, and domestic application." It will continue to strengthen R&D investment, enhance core technology self-reliance, deepen collaborative innovation across the industrial chain, and provide powerful, efficient, and secure computing infrastructure to become a cornerstone supporting China's digital economy and AI industry development.
Yue Bin, Founding Partner of Gaorong Ventures, commented: "The high-end general-purpose intelligent chip business is a challenging endeavor, much like scaling a towering cliff—it requires a mature team that can navigate both technology and business cycles. Biren has a clear understanding of the long-cycle, high-difficulty nature of the industry, while demonstrating outstanding comprehensive capabilities across core technology, talent, capital, ecosystem, and other dimensions. They have the courage and the foundation to keep climbing upward, and they are the kind of aggressive players that match this era and dare to stand at the forefront. Over the past few years, Biren has fully validated its R&D strength and product reliability, and has shown impressive growth potential in commercialization. Listing is a new starting point—we look forward to Biren continuing its journey toward the future of domestic GPGPUs and AI chip ecosystems, constantly pushing the boundaries of computing efficiency."
