New stock news: Merryn Technology plans to list in Hong Kong, possibly raising $300 million.

According to market news, the domestic GPU manufacturer Birentek is considering a Hong Kong IPO and is in potential cooperation with CICC, BOC International, and Ping An Securities for the IPO transaction, planning to raise $300 million (approximately RMB 2.2 billion) and potentially debut on the Hong Kong capital market this year. Details such as the size and timing of Birentek's IPO may change, and the IPO may also be postponed. It is reported that in September last year, Birentek had applied for counseling and filing registration with the Shanghai Securities Regulatory Bureau, intending to go public on the A-share Sci-Tech Innovation Board, with Guotai Junan as the counseling securities firm. At the same time, GPU manufacturers such as Muxi Integrated Circuit, Suiyuan Technology, and Moore Thread have all applied for counseling filing for IPO, with all choosing A-shares as their listing venue. According to the Hurun Research Institute's "2024 Global Unicorn List," Birentek has a valuation of RMB 15.5 billion, ranking 495th globally. Information shows that Birentek was established in 2019 and is dedicated to developing high-performance general-purpose GPUs and dedicated accelerators (DSA), with its products deployed in large-scale data centers. In August 2022, Birentek released its first general-purpose GPU chip BR100 series, including BR104 and BR100, which have been applied in intelligent computing centers in many places, with partners including ZTE Corporation, China Mobile Limited, China Telecom Corporation, and the Shanghai Artificial Intelligence Laboratory.