On January 2, “Hong Kong's first GPU stock”, Biren Technology (06082.HK), was listed on the Hong Kong Stock Exchange, becoming the first new stock to be listed in the Hong Kong market in 2026

Biren Technology debuts on the Hong Kong Stock Exchange, setting the record for the first gavel strike of 2026. Its Pre-IPO round investment value surges, with Jumbo Sheen Fund witnessing the rise of domestic GPUs

Jumbo Sheen Fund first invested in Biren Technology in its Series B funding round back in 2021, and followed up with another bet in the company’s Pre-IPO round in 2025. It has provided full-cycle support for Biren Technology’s journey from technological breakthroughs to the realization of a commercial closed loop. This listing marks another milestone achievement for Jumbo Sheen Fund’s "long-termism" philosophy in the hard tech sector. The Fund has successfully backed the first domestic GPU enterprise to list on the Hong Kong Stock Exchange, validating its forward-looking layout aligned with China’s strategy for independent and controllable computing power.

This 2026 debut on the Hong Kong Stock Exchange has set multiple records, which underscores the strong market enthusiasm for the listing

Biren Technology (06082.HK) debuted on the Hong Kong Stock Exchange (HKEX) at an offering price of HK$19.6. Its share price surged as much as 82% at market open on the first trading day, with its market capitalization exceeding HK$100 billion. The company became both the first new stock listed on the Hong Kong stock market in 2026 and the largest fundraising Chapter 18C IPO project, raking in net proceeds of HK$5.375 billion and achieving an over-subscription rate of more than 2,300 times. A number of Hong Kong government officials attended the gong-striking ceremony—a clear testament to the high level of attention the listing received.

Technology + orders dual-wheel drive, verifying commercial strength 

   Leveraging innovations such as its self-developed Chiplet die technology and heterogeneous hybrid training solutions, Biren Technology has emerged as a member of the first echelon of domestic GPU providers. It holds 24 outstanding orders (with a total value of CN¥822 million) and CN¥1.241 billion worth of framework agreements, has established in-depth partnerships with the three major telecom operators and leading tech enterprises, and achieved a leap from "laboratory breakthroughs" to "large-scale commercialization".

Jumbo Sheen’s Investment Philosophy: Weather the Cycles, Empower the Ecosystem        

 Drawing on its in-depth understanding of the semiconductor industry chain, Jumbo Sheen Fund made early strategic placements in a number of high-quality projects. Many of its portfolio companies have successfully completed their listings, and this latest milestone adds another brilliant chapter to the Fund’s track record. This listing not only underscores the maturity of the domestic computing power industry chain, but also validates Jumbo Sheen’s core strengths of "investing early, investing accurately and investing heavily" in the AI computing power track.