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 chip developer, plans to seek a listing in Hong Kong after reporting a 147% jump in first-half revenue. The company aims to deepen its international strategic footprint, attract and retain talent, and enhance corporate governance and core competitiveness. The revenue for the six months ending June was 1.7 billion yuan (US$252 million), while the net loss narrowed to 11.6 million yuan from 271 million yuan a year earlier.
The listing in Hong Kong is expected to boost Moore Threads' global industry profile and attract coverage from overseas sovereign wealth funds and global technology research institutions.
Brief written by urgent.news from SCMP Tech's own syndicated text. Machine-written — it may contain errors, so check the original before relying on it.
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