BlockBeats reports that China's 'domestic GPU four dragons' are about to assemble in the capital markets as Suiyuan Technology, the last of the quartet to list, begins its subscription period on September 2 on the Shanghai Stock Exchange's STAR Market. The company has set its initial public offering at 43,035,173 shares, representing 10 percent of the enlarged share capital, which is expected to total roughly 430 million shares after the offering. Suiyuan is seeking to raise 6 billion yuan, with proceeds mainly allocated to research and development of its fifth- and sixth-generation AI chip product lines, as well as an advanced artificial intelligence software-hardware collaborative innovation project. The plan is part of continued efforts to strengthen self-reliant iteration of domestic computing infrastructure. The other three members—Moore Threads, Muxi, and Biren—already trade on the A-share market, with first-day closing gains of 425.46%, 692.95%, and 75.82%, respectively. In the broader new-stock calendar for next week, the Beijing Stock Exchange's Baimaike opens on August 31, followed by Xinnuowei on the STAR Market on September 3.
BlockBeats reported that, according to the A-share issuance schedule released on August 30, three new stocks are open for subscription next week. On August 31, investors can subscribe for Baimaike on the Beijing Stock Exchange. On September 2, Suiyuan Technology will be available for subscription on the STAR Market of the Shanghai Stock Exchange. On September 3, Xinnuowei will open on the same board.
Suiyuan Technology, together with Moore Threads, Muxi Co., and Biren Technology, is known as one of the 'four little dragons' of China's domestic GPUs. Suiyuan is currently the only one among the four that has not yet gone public. Once Suiyuan lists, all four will have made their way to the capital markets.
The three already-listed peers posted strong first-day closes: Moore Threads gained 425.46%, Muxi rose 692.95%, and Biren advanced 75.82%.
Suiyuan's prospectus shows the company plans to issue 43,035,173 shares, representing 10% of the total share capital after the offering, with post-listing total share capital of approximately 430 million shares. The IPO is expected to raise 6 billion yuan, mainly for the research and development and industrialization of fifth- and sixth-generation AI chip product lines, as well as an advanced AI software-hardware collaborative innovation project, in a continued push for the independent iteration of domestic computing infrastructure.
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