Suiyuan Technology successfully passed the listing committee meeting for the ChiNext board IPO and the company has now become one of the leading enterprises in China's cloud AI chip industry.

On June 15th, Shanghai Suiyuan Technology Co., Ltd. (referred to as Suiyuan Technology) passed the listing committee meeting of the Shanghai Stock Exchange Science and Technology Innovation Board. The IPO sponsor is CITIC SEC, with plans to raise 6 billion yuan. According to the prospectus, Suiyuan Technology, established for 8 years, has independently developed and iterated four generations of architecture and 5 cloud AI chips, establishing a complete product system including AI chips, AI acceleration cards and modules, intelligent calculation systems and clusters, and AI computing and programming software platforms. It has become one of the leading cloud AI chip enterprises in China. The cloud AI chip is the core underlying hardware of the company's product matrix, with different generations of products used in AI large model training and inference scenarios. The AI acceleration card and module, based on the company's cloud AI chip, integrates supporting storage modules, power and signal management modules, heat dissipation components, and high-speed interfaces, into PCB boards or OAM modules. The company's intelligent computing system is branded as Cloud Blazer POD, a standalone cabinet and computing node device for AI model training and inference scenarios, constituting the smallest computing unit of the intelligent computing cluster. The AI computing and programming software platform is the core software platform of the company's product matrix. Since its establishment, the company's business model has been Fabless, focusing primarily on AI chip design and product sales, while wafer manufacturing, packaging, and testing are outsourced to relevant manufacturing and subcontracting enterprises. During the reporting period, the company generated revenue by selling AI acceleration cards and modules, intelligent calculation systems, and clusters to customers through R&D driven product iterations. As of the end of 2025, the company has obtained 313 domestic invention patents, undertaken 12 national and local scientific and technological projects, participated in the formulation of 58 key national and industry standards for AI chips and intelligent calculation systems, and won important awards such as the "SAIL Star" award at the World Artificial Intelligence Conference, "Annual Breakthrough Achievement" at the China Computing Power Conference, "Annual Major Innovation Breakthrough Product" at the China Chip Conference, and the "Wu Wenjun AI Science and Technology Special Award" at the Global "Future Industry Star" Contest. In terms of finance, in the fiscal years 2023, 2024, and 2025, the company achieved operating income of approximately 301 million yuan, 722 million yuan, and 990 million yuan, respectively; while in the same period, the net losses were approximately 1.665 billion yuan, 1.510 billion yuan, and 1.164 billion yuan, respectively.