BiRen Technology completes 1.5 billion financing and plans to go public in Hong Kong

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Domestic GPU company BiRen Technology has completed a new round of financing of 1.5 billion yuan, with a valuation of approximately 14 billion yuan. This round of investment was led by Guangdong Provincial Fund and Shanghai Municipal Government Fund. The company plans to submit a listing application to the Hong Kong Stock Exchange in the third quarter, and the expected fundraising scale is about 300 million US dollars. BiRen Technology was founded in 2019 and released its first general-purpose GPU chip BR100 series in 2022. It has cooperated with companies such as ZTE. Although it is still in a loss-making state, its sales in 2024 are expected to reach 400 million yuan.