Biren Technology Co., Ltd. (BIREN TECHNOLOGY, 6082.HK) has launched its Hong Kong IPO, with the offering period from December 22, 2025, to December 29, 2025. Approximately 247,692,800 H-shares will be globally offered, with an overallotment option of approximately 15%. The offer price will range from HKD 17.00 to HKD 19.60 per share, with a minimum of 200 shares per board lot, and the entry fee will be approximately HKD 3,959.54. The company is expected to list on the Main Board of the Hong Kong Stock Exchange on January 2, 2026. The joint sponsors for the IPO are CICC, Ping An Securities (Hong Kong), and Bank of China International.

Biren Technology: China’s Self-developed GPGPU Chip and AI Computing Solutions Provider

Offering Ratio: Approximately 5% (12,384,800 shares) for public offering in Hong Kong, and approximately 95% (235,308,000 shares) for international placement.

Offer Price: HKD 17.00 to HKD 19.60 per share; Minimum of 200 shares per lot; Entry fee approximately HKD 3,959.54.

Offering Period: December 22–29, 2025 (Expected Pricing Date: December 30, 2025).

Listing Date: January 2, 2026.

IPO Sponsors: CICC, Ping An Securities (Hong Kong), and Bank of China International.

Company Overview

Biren Technology specializes in developing General Purpose Graphics Processing Unit (GPGPU) chips and AI computing solutions based on GPGPU to provide foundational computing power for artificial intelligence (AI). By integrating proprietary GPGPU hardware with the BIRENSUPA software platform, the company supports AI model training and inference from the cloud to the edge, with significant performance and efficiency advantages, particularly in the large language models (LLMs) sector. Operating under a fabless model, the company’s products include PCIe cards, OAM, servers, and cluster solutions, serving key industries such as AI data centers, telecommunications, AI solutions, energy and utilities, fintech, and the internet.

Financial Information

According to the prospectus, Biren Technology's revenue for the years 2022–2024 was approximately RMB 499,000, RMB 620.3 million, and RMB 3.368 billion, respectively. The net losses for the same periods were approximately RMB 1.474 billion, RMB 1.744 billion, and RMB 1.538 billion, respectively. For the first half of 2025, the revenue was approximately RMB 589 million, with a net loss of approximately RMB 1.600 billion. Based on a mid-price of HKD 18.30, assuming no exercise of the overallotment option, the company expects to raise a net amount of approximately HKD 4.3506 billion. The funds will be used for the R&D of intelligent computing solutions (approximately 85%), commercialization (approximately 5%), and working capital and other general corporate purposes (approximately 10%).

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* 0 % interest applies to margin subscription amounts of HK$20 million or below.

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This promotion is effective from 5 December 2025 until further notice. Certain high-profile IPOs may be excluded. The actual interest rates and fees charged are those shown in the uSMART App subscription interface; statutory government and exchange levies will still apply. The company reserves the right to amend, suspend or terminate the above offer or its terms and conditions at any time without prior notice, and its interpretation shall be final.

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The uSMART HK App features an IPO Centre with exclusive perks, allowing clients to subscribe instantly to public offerings. After logging into the app, tap "Trade" at the bottom-right, go to "IPO Subscription," select Biren Technology , tap "Public Offer," enter your subscription quantity, and submit your order.

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