Tianshu Smart Chip (09903) successfully listed on the Hong Kong Stock Exchange, jointly building a new ecosystem of domestic AI computing power with Paradigm Intelligence.

On January 8th, Tiansu Zhixin (09903) was officially listed on the HKEX main board. After the opening, the stock price soared by 31.54%, with a market value exceeding 40 billion HK dollars. This demonstrates the strong interest and confidence of the capital market in domestic high-end computing chips. In this IPO, Tiansu Zhixin attracted 18 cornerstone investors, including ZTE Corporation (Hong Kong), UBS AM Singapore, Beijing Teamsun Technology (Hong Kong), and leading AI enterprise Paradigm Intelligence (06682). These investors committed to subscribing for a total of 1.583 billion HK dollars of shares. In particular, the participation of Paradigm Intelligence as a deep cooperation partner not only shows its optimism towards the domestic computing power ecosystem but also signifies a deep integration between the two parties in terms of capital and technology. Deep integration: Synergy between Paradigm Intelligence and Tiansu Zhixin The cooperation between Paradigm Intelligence and Tiansu Zhixin goes beyond simple capital investment and delves into the core of technical synergy and commercial symbiosis: - Strategic investment and ecological synergy: Paradigm Intelligence strategically invested in Tiansu Zhixin through its funds and is committed to breaking down the barriers between domestic computing hardware and upper-level AI applications, jointly building an autonomous and controllable AI computing base. - Technical adaptation and market expansion: Paradigm Intelligence's ModelHub XC and underlying engine EngineX solve the compatibility issues between domestic computing power and large models, allowing enterprise customers to easily deploy and run AI models, reducing barriers to use and increasing market acceptance. Triple benefits of listing for Paradigm Intelligence The successful listing of Tiansu Zhixin and its outstanding performance in the capital market have brought significant positive impacts to Paradigm Intelligence: 1. Reassessment of investment value and financial returns: The strong performance of Tiansu Zhixin's stock price directly increases the value of Paradigm Intelligence's holdings, optimizes its asset structure, and enhances its valuation level. 2. Strengthening supply chain security and computing autonomy: After the listing of Tiansu Zhixin, it will have more abundant funds for research and production capacity expansion, ensuring that Paradigm Intelligence can obtain a more stable, advanced, and cost-effective domestic computing supply, reducing dependency on a single overseas supplier. 3. Enhancing technological barriers and market competitiveness: Through deep cooperation with Tiansu Zhixin, Paradigm Intelligence has built a synergistic advantage of "software + hardware," forming a technology moat that is difficult to replicate, significantly enhancing its competitiveness in the enterprise-level AI market. Market significance: Promoting the maturity of domestic AI computing ecosystem The listing of Tiansu Zhixin is not only a milestone in its own development but also a significant event in the maturation of the domestic AI industry. The deep synergy from capital to technology between the two parties has accelerated the maturity of the domestic AI computing ecosystem, providing stable, efficient, and secure domestic computing guarantee and laying a solid foundation for the transition of domestic AI chips from "usable" to "good" and "beloved." Currently, the Xin Chuang GPU market is accelerating its entry into the stage of large-scale implementation, with multiple research institutions predicting that the market size will exceed 100 billion yuan in the next five years. In this process, Paradigm Intelligence and Tiansu Zhixin continue to deepen their cooperation in areas such as technological adaptation, joint solutions creation, and customer collaboration, driving the practical application of domestic computing power in enterprise scenarios with vast market opportunities. The collaboration between the two parties is poised to provide more industry clients with a deployable and replicable full-stack domestic AI path. In addition, this integrated "software-hardware" cooperation model effectively shortens the conversion cycle of domestic computing from the laboratory to the production line, greatly enhancing customer adoption willingness and project delivery certainty, further consolidating the leading positions of both parties in the largest-scale domestic AI enterprise deployment in China. The successful listing of Tiansu Zhixin is not only an important milestone in the development of the domestic GPU industry but also an important achievement of Paradigm Intelligence's strategic layout. The deep integration between the two parties will not only accelerate the maturity of the domestic AI computing ecosystem but also provide stronger growth momentum and broader development space for Paradigm Intelligence in the wave of AI large model application. With the arrival of the era of "good to use" domestic computing power, the close cooperation between Paradigm Intelligence and Tiansu Zhixin is expected to jointly write a new chapter in China's AI industry's autonomous innovation.