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Suiyuan Technology Raises 6.119B Yuan in STAR Market IPO

Suiyuan Technology's STAR Market IPO raised 6.119 billion yuan at 142.18 yuan per share for its AI chip business.

AI News Feed · 2026-09-08 04:17

Subscription details show that online investors subscribed for 10.31 million shares and offline investors for 24.10 million shares. The online offering attracted 7.032 million valid subscription accounts, yielding a final lottery rate of 0.02455315%.

Suiyuan focuses on cloud AI chips and has built a product portfolio spanning AI chips, accelerator cards and modules, intelligent computing systems and clusters, and a software platform covering compilers, operator libraries and toolkits. The company says it has developed five cloud AI chips across four generations and maintains a proprietary DSA-based architecture. At the end of 2025, R&D personnel accounted for 76.73% of its workforce. Cumulative research and development spending from 2023 through 2025 reached 3.676 billion yuan.

The company followed a strategy of first establishing a long-term collaborative relationship with Tencent before expanding to other internet platforms, telecom operators and industry clients. Chairman Zhao Lidong said in an online roadshow that the fourth-generation products have passed hardware and model matching with several potential customers and are in gray-scale testing, with small-volume deliveries possibly taking place in 2026 and bulk shipments expected in 2027.

The financial results show rising adoption of its products. Suiyuan’s revenue grew from 301 million yuan in 2023 to 722 million yuan in 2024 and 990 million yuan in 2025, a three-year compound growth rate of 81.32%. In the first half of 2026, it reported revenue of 1.12 billion yuan, up 279.08% year-on-year. The company forecasts revenue of 2.3 billion to 3 billion yuan for the first nine months of 2026, representing year-on-year growth of 325.78% to 455.36%, and expects to report consolidated profit in 2026 or 2027.

The IPO comes as cloud providers increase artificial-intelligence spending worldwide. Citi Research projects global AI capital expenditure to rise from 0.2 trillion U.S. dollars in 2024 to 1.4 trillion dollars in 2028. Data from CIC Consulting cited in the report estimate the global AI accelerator market will expand from 119.03 billion dollars in 2024 to 525.77 billion dollars in 2028, with the Chinese market reaching 1.11 trillion yuan by 2028. Suiyuan noted that domestic AI accelerators still face a large supply gap in China.