Archive — CN — technode
China GPU maker Moore Threads plans Hong Kong listing after H1 revenue jumps147%
Moore Threads, a Chinese GPU maker, has plans to list on the Hong Kong Stock Exchange following a significant 147.42% increase in H1 revenue, totalling RMB 1.74 billion. Their net loss decreased significantly, and R&D investment reached RMB 769.1 million. The board approved this plan on August 7, 2023.
Key points
- Moore Threads' board approved plans for a Hong Kong listing on August 7.
- The company's H1 revenue for 2023 was RMB 1.74 billion, a 147.42% increase YoY.
- Net loss for the first half of the year narrowed by 95.73%, amounting to RMB 11.6 million.
- Research and development expenses totaled RMB 769.1 million.
Why it matters
- The surge in revenue indicates a growing demand for GPUs, aligning with the global shift towards AI and machine learning, trends expected to dominate the IT landscape by 2025.
- This listing adds to a trend of tech companies capitalizing on Asian markets for funding amid global economic fluctuations.
Moore Threads' significant growth and impending Hong Kong listing reflect the robust demand for GPU technology and the company's strategic positioning in the evolving IT landscape ahead of 2025.