New IPO News | Legendary Emoer Secretly Submits Application to Hong Kong Stock Exchange, Valuation Target of Approximately 2 Billion USD

According to market news, the domestic chip design company KiwiMoore has secretly submitted a listing application to the Hong Kong Stock Exchange, targeting a valuation of approximately $2 billion (around HK$15.6 billion), with CITIC SEC and Agricultural Bank of China International acting as co-sponsors. Reports quoted sources as saying that the company plans to go public in Hong Kong in the first half of 2027. In July of this year, KiwiMoore completed a financing round of about 700 million yuan, reaching a post-money valuation of 8 billion yuan. Its shareholder lineup includes state-owned enterprises' mixed ownership reform fund, Beijing Centergate Technologies' Development and Sunrise Industrial Investment Fund, Fosun Innovation, and Shanghai Fortune Techgroup. Founded in 2021, KiwiMoore initially focused on 2.5D and 3D chip products and packaging integration services. In recent years, its business has extended to AI network full-stack interconnected solutions, constructing product solutions for Scale Inside chip-to-chip interconnections, Scale Up ultra-node GPU interconnections, and Scale Out ultra-large-scale server cluster interconnections. As disclosed on its official website, the company has over 80% of its research and development, with a total employee count exceeding 100. More than 20% of its employees hold a PhD, and the core team has an average industry experience of over 20 years, having participated in more than 50 high-performance network and chip mass production projects. Currently, it has business or research and development bases in Shanghai, Shenzhen, Quzhou, and Xi'an.