On January 2, 2026, Shanghai Biren Technology Co., Ltd. (“Biren Tech”, stock code: 6082.HK) was successfully listed on the Main Board of The Stock Exchange of Hong Kong, becoming the first Mainland Chinese GPU company listed in the Hong Kong market. It is also the largest IPO by offering size since the implementation of the Chapter 18C regime for Specialist Technology Companies. Fangda Partners acted as the issuer’s PRC legal counsel, providing comprehensive legal services covering the company’s shareholding restructuring, pre-IPO financing, full circulation application, CSRC filing, and legal due diligence. In this global offering, Biren Tech issued 248 million shares, achieving a subscription multiple of over 2,000 times. The final offer price was set at HKD 19.60 per share, raising approximately HKD 4.85 billion in gross proceeds, or approximately HKD 5.58 billion assuming the over-allotment option is fully exercised.
Biren Tech is a leading Chinese provider of general-purpose intelligent computing solutions. Centered on its independently developed GPU products, the company delivers powerful, secure, and efficient computing infrastructure to a wide range of industries. Adhering to original core architecture innovation, Biren pioneered large-scale computing chips based on Chiplet architecture and built a technology system driven by software-hardware co-innovation. The company is committed to fostering a domestic ecosystem for intelligent computing and positioning itself as a core engine of China’s artificial intelligence industry.
The Fangda team advising on this transaction was led by partners Jeffrey DING, WANG Mengjie, and Brian LIU. Key team members included SHI Shengjie, CHEN Yanming, Helga CHEN, Zoe HU, Simon LU, and Merlin SONG. Fangda’s data compliance team, led by partners Gil ZHANG and LI Huihui, provided data compliance and cybersecurity legal services. Team members included LU Yuxin and Grace CHENG.