China AI Chip Designer Moore Threads Plans Hong Kong Listing

Artificial intelligence chipmaker Moore Threads Technology Co. said it plans to list in Hong Kong at an “appropriate time” after its shares have surged more than 420% since their Shanghai debut last year.

The Beijing-based firm is planning a Hong Kong offering to deepen its internationalization strategy and attract outstanding research and development as well as management talent, according to a filing released Sunday. Moore Threads also reported a first-half net loss of 11.6 million yuan ($1.72 million), down from 270.9 million yuan in the same period last year, according to a separate filing. Revenue jumped 147% to 1.74 billion yuan in January-June.

“The company will fully consider the interests of existing shareholders and the conditions of domestic and overseas capital markets, selecting an appropriate timing and issuance window to complete the issuance and listing,” Moore Threads said.

Moore Threads late last year kicked off a wave of Chinese AI-linked IPOs, raising 8 billion yuan in a heavily oversubscribed deal. Its shares jumped 425% in its Shanghai trading debut, at the time marking the biggest first-day pop for a major debut since China’s 2019 reforms. It paved the way for a wave of listings that culminated with memory chipmaker CXMT Corp. raising 6.6 billion yuan last month in the second-largest mainland IPO in history and subsequently becoming the biggest China-listed company.

Chinese companies in the AI supply chain have also fueled a Hong Kong deals boom this year. First-time share sales in the city have raised more than $42 billion in 2026, already a six-year high. Zhongji Innolight Co., a maker of optical transceivers essential to the data-center buildout, raised $6.8 billion last month in Hong Kong’s biggest debut in seven years.

Moore Threads has emerged as a contender alongside Cambricon Technologies Corp. and Huawei Technologies Co. in the race to fill a market share void left after Nvidia Corp.’s forced exit. Founded in 2020 by former Nvidia executive Zhang Jianzhong, Moore Threads had started out earning revenue from graphics chips for gaming and visual rendering before pivoting to AI accelerators used in powering large language models.

Read more: Nvidia Challenger Moore Threads Jumps 425% in China Debut