Chinese AI chipmaker Biren plans a Dec. 2025 Hong Kong IPO, aiming to raise $300M.

Chinese AI chip startup Biren Technology plans to launch an initial public offering in Hong Kong in December 2025, potentially raising $300 million by issuing up to 372.5 million shares, according to sources. The company, founded in 2019 by former executives from SenseTime, Qualcomm, and Huawei, aims to list as early as December, with existing onshore shares converted to Hong Kong-listed stock. The IPO follows strong market performance by peers like Moore Threads and MetaX. Biren, valued at about $2 billion before a 2025 funding round, was added to the U.S. Entity List in 2023, limiting access to advanced chip manufacturing. The China Securities Regulatory Commission has acknowledged its filing. Bank of China International, CICC, and Ping An Securities are leading the deal.