China's Biren Tech Posts 20-Fold Revenue Jump, Shrinks Loss in H1 2026
Biren Technology's H1 revenue surged nearly 20-fold as losses narrowed sharply, signaling accelerated commercialization of its domestic GPUs.
The company said revenue in the six months exceeded its total for all of 2025, driven by rapid growth in agentic AI applications and token consumption. Sales of its Bili series chips expanded, with several benchmark projects delivered. Biren completed supplier qualification with major internet companies and began batch deliveries, opening a new phase of revenue growth. It also jointly launched with partners a commercial "Optical Interconnect GPU Supernode" product, already deployed at thousands of cards, improving end-to-end training performance for mixture-of-experts models by over 30%.
Gross profit jumped 2,708.5% year-on-year to 527 million yuan, with gross margin reaching 42.7%, up 1,080 basis points, as revenue from cloud training products rose. The company's adjusted loss on a non-IFRS basis narrowed 38.9% to 337 million yuan. Management attributed the improvements to operating leverage and a richer product mix.
Research and development spending rose 40.7% to 804 million yuan in the first half, taking cumulative R&D investment over the past three and a half years to 3.993 billion yuan. The company said its next-generation product family, based on a self-developed instruction set, compute core and chiplet architecture, is on track for launch and production. The new line supports FP8/FP4 precision and integrates BLink 2.0 interconnect, enabling up to 1,024-card scale-up. Biren has built a three-tier supernode matrix and, during the World AI Conference in July, released a new NPO optical interconnect supernode solution.
Biren said it has completed day-0 adaptation for flagship large models including DeepSeek-V4, Zhipu GLM-5, Alibaba Qwen3.6 and Moonshot Kimi K2.6, supporting nearly 30 domestic large models in total. The company has filed 1,917 patents, including 1,823 invention patents, and obtained 1,006 grants. On July 8, it completed a private placement of 153 million new H-shares, raising net proceeds of about HK$7.04 billion to strengthen procurement and supply chain. Inventory reached 1.215 billion yuan, up 28.1% from end-2025, while prepayments related to inventory and services rose 230.0% to 1.534 billion yuan.
Looking ahead, Biren said it will continue investing in advanced packaging, 3DIC, optical interconnect supernodes and other frontier technologies, and deepen partnerships with customers and ecosystem players. It believes its full-stack software-hardware capabilities, supernode and optical interconnect innovations, and mass-production delivery will create a positive cycle, making domestic computing power the first choice for innovators.