Moore Threads plans Hong Kong listing after posting 147% jump in first-half revenue
Chinese artificial intelligence (AI) chip developer Moore Threads plans to seek a listing in Hong Kong after reporting a 147 per cent jump in first-half revenue, as the Nvidia challenger seeks fresh capital amid booming demand for home-grown computing power. The Shanghai-listed company said on Sunday that its board had approved a plan to issue H shares and list on the main board of the Hong Kong…
Moore Threads, a Chinese artificial intelligence (AI) chip developer, announced plans to list on the Hong Kong stock exchange after a 147% increase in first-half revenue. The company, which specializes in graphics processing units (GPUs), sought fresh capital amid rising demand for home-grown computing power. With a revenue of 1.7 billion yuan ($252 million) in the six months ended June, Moore Threads' net loss narrowed to 11.6 million yuan from 271 million yuan a year earlier.
The listing aims to deepen the firm’s international footprint, attract talent, and enhance corporate governance. Guo Tao, an angel investor, stated that Hong Kong would attract coverage from overseas sovereign wealth funds and global technology research institutions. The Hong Kong stock market has seen a surge of high-profile Chinese tech company debuts in recent months, with 104 new listings between January and July, a 154% increase compared to the same period last year.
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