China AI chipmaker’s STAR Market listing advanced after the exchange’s review committee approval, with proceeds earmarked for next-generation AI chip research and an AI software-hardware collaboration project.
Suiyuan Tech has passed the Shanghai Stock Exchange STAR Market listing review committee, moving forward with an IPO that seeks to raise CNY 6 billion. The company’s prospectus says the proceeds will be used for fifth- and sixth-generation AI chip research and development and industrialization, as well as an advanced AI software-hardware collaborative innovation project. The exchange website shows the company began IPO tutoring in August 2024, completed tutoring acceptance in January 2025, and had its application accepted on January 12, 2025. Suiyuan Tech has been described as one of China’s “domestic GPU four little dragons,” focusing on cloud AI training and inference chips. Tencent remains a core supplier relationship for the company and holds about 20% as its largest shareholder.