New Stock News | Alibaba, GIC, BlackRock and other luxury cornerstone investors support Sunrise Intelligent Technology's (01879) IPO oversubscribed by over 704 times.

Global AI Silicon Chip's first stock, photonic-hybrid computing unicorn SenseTime Technology (01879), saw market enthusiasm explode on its IPO debut. Data shows that as of 11:00 on April 21, the total amount of funds raised in its public offering has increased to 88.967 billion Hong Kong dollars, with an oversubscribed ratio of over 704 times. SenseTime Technology conducted its IPO from April 20 to April 23, with a price range of HK$166.6 to HK$183.2 per share and a minimum trading unit of 15 shares. The minimum entry fee is approximately HK$2,775.71, and it is expected to be listed on the Hong Kong Stock Exchange for trading on April 28. Behind the enthusiastic market response, the lineup of cornerstone investors is impressive, including heavyweight players in the computing and communication industries such as Alibaba, CICC Capital, Lenovo, and ZTE, as well as international sovereign funds and top-tier funds, among which are GIC, Baillie Gifford, BlackRock, Fidelity International, Schroders Global, Temasek, UBS, and more. In total, 20 cornerstone investors have subscribed to approximately HK$1.644 billion of shares. As the only independent Scale-up photonic interconnect solutions provider in China, SenseTime Technology is expected to achieve a Scale-up revenue of 75.58 million RMB by 2025, with a year-on-year growth of over 60.7%. The company currently holds 88.3% of the revenue share in the independent supplier market, establishing itself as the industry leader. Additionally, the company's photonic computing chips have been ranked as the world's best for two consecutive years in 2024 and 2025. With the surge in demand for AI computing power, the company's scarcity and technological advantage have drawn strong interest on its first day of IPO, and its subsequent performance on the stock market is highly anticipated.