China's Biren Technology Soars in Hong Kong Market Debut

Hong Kong, Friday, 2 January 2026.
Shanghai Biren Technology (6082.HK) redefined market expectations for China’s semiconductor sector today, closing up nearly 76% in its Hong Kong debut. As the first domestic GPU developer to list under the specialist technology regime, Biren raised HK$4.85 billion, but the true shock came from retail investors: the offering was oversubscribed by more than 2,000 times. This frenzy occurred despite the company reporting multibillion-yuan losses over the last three years, signaling that capital markets are aggressively pricing in the strategic value of domestic AI chip independence over immediate profitability.