chip Photo:VCG

Driven by surging demand for AI computing power, Chinese semiconductor-related enterprises are speeding up their IPOs. This year’s IPO boom across the domestic chip sector mirrors the vibrant growth of China’s future industries and the country’s push for technological self-reliance, an industry expert said.

In the latest development, the Shanghai Stock Exchange (SSE) disclosed on Tuesday that it has accepted the STAR Market IPO filing of XPHOR, a Shanghai-based silicon photonics company. Focused on high-performance silicon photonic integrated chips, the firm plans to raise 2.43 billion yuan through IPO.

The IPO proceeds will fund capacity expansion for silicon photonic chips needed by AI computing and data centers, R&D and industrialization for next-generation silicon photonic products, the construction of an in-house R&D hub, and supplementary working capital, the company said.

Separately on Monday, the SSE gave greenlight to STAR Market IPO application of InnoGrit, a domestic storage controller chip developer. According to its prospectus, IPO proceeds will finance two industrialization projects for data center storage and AI-specific storage systems, as well as replenishing operating capital. By going public, the firm plans to ramp up investment in cutting-edge storage technologies to build a fully self-sufficient domestic semiconductor storage industrial ecosystem.

On June 15 both Enflame Technology and CanSemi Technology cleared IPO reviews, eyeing combined fundraising of 13.5 billion yuan, the Securities Times reported. Enflame specializes in cloud-native AI chip design and stands as a pivotal player advancing homegrown computing autonomy, while CanSemi runs a 12-inch wafer fabrication facility that fills production capacity gap in China’s high-end analog chip manufacturing segment, according to the report.

To consolidate China’s technological self-reliance efforts, the China Securities Regulatory Commission (CSRC) rolled out upgraded institutional support for hard-tech listings during the Lujiazui Forum held on June 17.

The scope of the fifth set of STAR Market listing standards will be extended to the AI sector, offering robust backing for high-quality enterprises developing large AI models to pursue IPOs, Wu Qing, chairman of the CSRC, said. According to the SSE, the fifth set of listing standards does not set profit thresholds for applicants. Instead, it targets firms with strong long-term growth potential.

Also, in line with the national strategy to develop future industries, the STAR Market will welcome more hard-tech companies engaged in quantum technology, bio-manufacturing, embodied intelligence and other emerging frontier sectors to go public, Wu added.

By going public, these chip firms can secure financing quickly. The raised funds can be deployed to scale up production capacity and bolster R&D. The chip industry needs massive upfront capital investment and IPO fundraising serves as an optimal financing avenue to sustain long-term development, Ma Jihua, a veteran industry analyst, told the Global Times on Wednesday.

Policies introduced to support hard-tech listings on the STAR Market help retain industrial capital and underpin the country’s long-term pursuit of tech self-reliance, Ma said.

China’s tech sector notched a milestone as the first half of 2026 concluded on Tuesday. The total market capitalization of the Shenwan Semiconductor Index surpassed that of large state-owned commercial banks for the first time, ranking first among all A-share industrial sectors. Meanwhile, the number of A-share firms valued at over 100 billion yuan has jumped to 206, with new additions mainly consisting of hard-tech enterprises, the Securities Times reported.