HKEX File Photo

China's technology unicorn Biren Technology received approval on Monday from the China Securities Regulatory Commission for a listing at the Hong Kong stock market, the Securities Times reported on Tuesday.

The company plans to issue up to 372.458 million ordinary shares and list them on the Hong Kong Stock Exchange, potentially becoming the "first GPU stock" in the Hong Kong Stock Exchange, the report said.

Biren Technology is not alone. Another GPU company, Metax-Tech, is set to debut on the STAR Market on Wednesday. The Chinese GPU designer, Moore Threads, often described as "China's Nvidia," was listed on Shanghai's STAR Market on December 5, according to The Paper.

Founded in 2019, Biren Technology is a company developing high-performance general-purpose GPUs. The company is dedicated to building an independently developed, high-performance GPU hardware and software ecosystem and fostering an intelligent computing industry ecosystem in China. 

Its first-generation general-purpose GPU, based on an original training-and-inference integrated chip architecture, has already been deployed in multiple intelligent computing centers across China, the Securities Times reported.

China's GPU startups are rapidly expanding amid growing global demand. According to data provided by Verified Market Research, GPU Market size was valued at $77.39 billion in 2024 and is projected to reach $638.61 billion by 2032.

According to data from the China Commercial Industry Research Institute, China's GPU market is expected to reach 107.3 billion yuan in 2024, up 32.96 percent year-on-year. However, China's GPU industry still lags behind certain developed markets. With strong government support and the continued maturation of key technologies across the Chinese AI industry chain, the process of domestic GPU substitution is expected to accelerate, the National Business Daily reported.

Global Times