Chinese GPU Maker Su Yuan Technology Sets IPO Price at $830 Million
Chinese graphics processing unit (GPU) developer Su Yuan Technology announced its listing on Shanghai's STAR Market, aiming to raise approximately $830 million. The company set its initial public offering price at 142.18 yuan per share.
Chinese graphics processing unit (GPU) developer Su Yuan Technology has announced its upcoming listing on Shanghai's STAR Market (科创板). The company plans to raise approximately 6.119 billion yuan (around $830 million) through its initial public offering (IPO).
The IPO price has been set at 142.18 yuan per share, with a total of 43.035 million shares to be issued. Su Yuan Technology is known as one of China's four emerging domestic GPU manufacturers, alongside Moore Threads, Moore Threads, and Biren Technology.
The company acknowledges that it is not yet profitable. The valuation metric used for the IPO, based on a 2025 price-to-sales ratio, is 61.8 times, which the company states is below the average for comparable companies in the industry. The subscription period for the offering is set for September 2, 2026.
The capital raised is intended to fund the research and development and industrialization of Su Yuan Technology's fifth and sixth generation AI chip series. It will also support advanced collaborative innovation projects in AI hardware and software.