STOCKS | Hong Kong-Listed GPU Names Fall As Suiyuan Tech Debuts In Shanghai

Two Hong Kong-listed GPU names fell on Friday, with Tensordom (09903) down 1.7% to HK$315.4 and Biren Technology (06082) down 3.7% to HK$36.08, according to ETNet. Tensordom has now fallen for six straight sessions, while Biren has declined for two. Suiyuan Technology, another member of the so-called domestic GPU quartet, listed on Shanghai's STAR Market and opened at RMB410, more than 1.88 times its issue price of RMB142.18. Based on 500 shares per lot, each winning lot would have gained RMB133,900 before fees. According to its prospectus, Suiyuan Technology raised an estimated RMB6.12 billion and had an implied post-listing market value of about RMB61.2 billion. The offering represented 10% of its enlarged share capital, while the final strategic placement covered 8.607 million shares, or about 20% of the total issue. The company said the proceeds will fund research, development and industrialisation of its fifth- and sixth-generation AI chip products, as well as advanced AI hardware-software co-innovation projects. The Hang Seng Index was down 282 points, or 1.1%, at 24,671. Mainboard turnover topped HK$48.4 billion. The Hang Seng China Enterprises Index fell 77 points, or 0.9%, to 8,196, while the Hang Seng Tech Index dropped 41 points, or 1%, to 4,288.