CSRC approves Swaytek's registration for the Science and Technology Innovation Board IPO

On July 9th, the China Securities Regulatory Commission issued a reply approving the initial public offering of shares by Shanghai Siyuan Technology Co., Ltd. It is reported that Siyuan Technology plans to go public on the Sci-Tech Innovation Board of the Shanghai Stock Exchange, with CITIC SEC as the sponsor institution, aiming to raise 6 billion yuan. The prospectus shows that Siyuan Technology is one of the leading enterprises in China's cloud AI chip field, committed to becoming a leading enterprise in the "universal artificial intelligence infrastructure". The company adheres to the technical route of original innovation and independent research and development, building core competitiveness and moats for long-term sustainable development. In the 8 years since its establishment, the company has independently developed and iterated four generations of architecture and 5 cloud AI chips, establishing a complete product system covering AI chips, AI accelerator cards and modules, intelligent computing systems and clusters, as well as AI computing and programming software platforms.