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Denglin Technology Passes Hong Kong Stock Exchange Hearing
Denglin Technology clears Hong Kong listing after selling 10,344 GPGPU chips and plans $400 million raise.
In brief
Denglin Technology clears Hong Kong listing after selling 10,344 GPGPU chips and plans $400 million raise. Denglin Technology passed Hong Kong Stock Exchange hearing with $300-400 million funding target and 10,344 GPGPU chips sold in first four months. Originally reported by BigGo Finance.
Denglin Technology Passes Hong Kong Stock Exchange Hearing
Denglin Technology passed Hong Kong Stock Exchange hearing on October 25 planning to list as specialist technology company under Chapter 18C.
Planned $300-400 Million Fundraise
Company aims to raise $300 million to $400 million at pre-IPO valuation of approximately CNY 7.2 billion.
10,344 GPGPU Units Sold
Sold 10,344 GPGPU units in first four months generating CNY 166.752 million product revenue.
Total Revenue $30.1 Million
Total revenue including technical services reached CNY 200.365 million approximately $30.1 million.
Average Price Per Card
Average price per card approximately CNY 16,100 about $2,400 with 90.4% revenue from top five customers.
Low Power Consumption
Products target smart cities and enterprise private clouds with power consumption 55W to 130W.
Top Five Customers
Top five customers contributed 90.4% of revenue with largest single customer accounting for 38.0%.
Technical Service Revenue
Technical service revenue accounted for 32.3% of total revenue in 2025 with one-time design services.
Shareholder Roster
Shareholders include China Internet Investment Fund, Qualcomm China, Hikvision Fund, Zhongxin Venture Capital.
Product Roadmap
Plans to launch next-generation products in two phases by end-2026 and second half of 2027.
HBM3e Integration
Second phase integrates HBM3e targeting large intelligent computing centers and public clouds.
Cambricon Earnings
Cambricon reported CNY 9.526 billion revenue for first three quarters up 106.76% year-on-year.
Inventory Concerns
Cambricon inventory increased to CNY 11.665 billion with prepayments rising to CNY 3.044 billion.
Market Impact
Denglin targets enterprise projects with low power while Cambricon focuses on cloud training with inventory concerns.
In short
Denglin Technology passed Hong Kong Stock Exchange hearing with $300-400 million funding target and 10,344 GPGPU chips sold in first four months.
