First Day of Trading | Denglin Technology-P (09917) Debuts, Opening Down 0.87% in Early Trading; Company Ranks Third in China's Enterprise AI GPGPU Market

Denglin Technology-P (09917) debuted on its first day of trading. According to the announcement, the offer price was HK$231 per share, with a total of 6.125 million shares issued, and a board lot of 25 shares. Net proceeds were approximately HK$1.48 billion. As of press time, the stock fell 0.87% to HK$229, with turnover of HK$68.1913 million. According to the prospectus, Denglin Technology is a general-purpose graphics processing unit (GPGPU) provider that develops and sells GPGPU products to meet the AI computing needs of various industries in China. Leveraging its proprietary GPU+*(Minsky) architecture, the company focuses on the enterprise AI market as its core target and seeks to expand into the public cloud market and innovative fields such as Siasun Robot&Automation. By providing energy-efficient, secure and reliable computing platforms and scenario-based solutions, the group is committed to being a solid partner in China's industrial AI upgrade process. China's enterprise AI GPGPU market grew from RMB1.9 billion in 2021 to RMB11.8 billion in 2025, representing a compound annual growth rate of 58.1%. According to Frost & Sullivan, based on 2025 revenue, the group is the third-largest company in China's enterprise AI GPGPU market, with a 1.0% market share. This position stems from the group's ability to precisely match core enterprise AI needs, including energy-efficient, cost-effective design, software compatibility, and precisely customized hardware and services.