SHANGHAI, Jan. 2, 2026 /PRNewswire/ -- Qiming Venture Partners' portfolio company Biren Technology, a leading domestic GPU developer, successfully listed on the Hong Kong Stock Exchange today, becoming the first company to go public in Hong Kong in 2026.
Biren Technology (06082.HK) issued shares at a price of HK$19.6 per share and opened at HK$35.7 per share with a market capitalization of HK$85.54 billion. Biren Technology's successful listing makes it the first GPU stock on the Hong Kong market and the largest new share offering since Chapter 18C took effect.
Qiming Venture Partners is the earliest and most steadfast supporter of Biren Tech. Qiming, as a founding investor, led Biren Technology's first round of financing when the company was founded in 2019, and has continued to fund its development since then. Qiming is the company's largest external institutional investor.
Founded in 2019, Biren Technology is a leading provider of general intelligent computing solutions in China. The company adheres to an original core architecture, pioneers the Chiplet-based high-performnace computing chip, has built a technology system featuring software-hardware co-innovation. It is dedicated to fostering a intelligent computing industry ecosystem and aims to serve as a core engine for the development of China's artificial intelligence industry.
Biren Technology has developed the first-generation General Purpose Graphics Processing Units (GPGPU) architecture and a series of hardware based on GPGPU. It has successfully developed the Biren TM106 and Biren TM110 chips as well as the higher-performing Biren TM166 chip. The chips are used in key industries such as AI data centers, telecommunications, AI solutions, energy and public utilities, fintech and internet.
Zhang Wen, Founder, Chairman and CEO of Biren Technology, stated: "Becoming a public company marks a stronger beginning for Biren-and brings greater responsibility. Going forward, we will continue to increase R&D investment, accelerate the development of our fully independent and controllable product stack, and help build a robust, domestic computing ecosystem. Our aim is to enhance the security, stability, and resilience of China's intelligent computing capabilities, driving and enabling high-quality development across the AI sector."
"As a founding investor in Biren Technology's first financing round, we are delighted to have journeyed alongside the company and witnessed this significant milestone of its successful listing. From the outset, Biren Technology chose a challenging yet critical path-developing high-performance general-purpose GPUs through continuous technological innovation. Its successful listing not only marks a key phase in the company's growth but also demonstrates the evolution of China's tech entrepreneurship towards a new stage centered on original innovation. The listing is both a phased achievement and the starting point of a new journey. We expect Biren Technology to continue deepening its technological innovation and to play an increasingly significant role in building the AI ecosystem in China and globally," said Alex Zhou, Managing Partner of Qiming Venture Partners.
About Qiming Venture Partners
Qiming Venture Partners was founded in 2006. Currently, Qiming Venture Partners manages eleven US Dollar funds and seven RMB funds with $9.5 billion in capital raised. Since our establishment, we have invested in outstanding companies in the Technology and Healthcare industries at the early and growth stages.
Since our debut, we have backed over 580 fast-growing and innovative companies. Over 210 of our portfolio companies have achieved exits through IPOs at the NYSE, NASDAQ, HKEX, Shanghai Stock Exchange, or Shenzhen Stock Exchange, or through M&A or other means. There are also over 80 portfolio companies that have achieved unicorn or super unicorn status.
Many of our portfolio companies are today's most influential firms in their respective sectors, including Xiaomi, Meituan, Bilibili, Zhihu, Roborock, Hesai Technology, UBTech, WeRide, HyperStrong, Insta360, Unisound, Biren Technology (06082.HK), Gan & Lee Pharmaceuticals, Tigermed, Zai Lab, CanSino Biologics, Schrödinger, APT Medical, Sanyou Medical, AmoyDx, SinocellTech, Insilico Medicine, AusperBio, Yuanxin Technology, Medilink Therapeutics, LaNova Medicines, zai, StepFun, among many others.
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