Beijing-based Moore Threads Technology, an AI chipmaker that develops graphics processing units and AI accelerators, said on August 10 that it plans a Hong Kong listing at an appropriate time.

It shares rose more than 420% since their Shanghai debut last year.

The company said the move would support its global expansion and help it attract research, development, and management talent.

Separate filings showed first-half net loss narrowed to 11.6 million yuan (US$1.72 million), from 270.9 million yuan (US$40.2 million) a year earlier, while revenue rose 147% to 1.7 billion yuan (US$258 million).

Founded in 2020 by former Nvidia executive Zhang Jianzhong, Moore Threads shifted from graphics chips for gaming and visual rendering to AI accelerators.

Its Shanghai initial public offering was on the STAR Market and opened at 650 yuan (US$96), up 468% from its 114.28 yuan (US$17) offer price, after raising 8 billion yuan (US$1.19 billion) last year.

Moore Threads was added to the US Entity List in 2023. Hong Kong also allows secondary and dual-primary listings for companies already listed elsewhere.

The plan also fits a broader trend, with Chinese chip and AI firms including Biren Technology, and Montage Technology pursuing fundraising in Hong Kong.

🔗 Source: Bloomberg

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