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Moore Threads plans Hong Kong listing after surging first-half revenue
The Shanghai-listed AI chipmaker reported 1.7 billion yuan in revenue for the six months ended June, while its net loss narrowed to 11.6 million yuan.
Chinese AI chip developer Moore Threads is considering a Hong Kong listing after posting a sharp revenue increase in the first half of the year, setting up a potential new fund-raising and growth step for the Nvidia challenger. According to SCMP Economy, the company said its board has approved plans to issue H shares and list on the main board of the Hong Kong Stock Exchange. The move is intended to expand its international presence, help attract and retain talent, and strengthen corporate governance.
Separately, Moore Threads reported revenue of 1.7 billion yuan, or about US$252 million, for the six months ended June. Its net loss narrowed to 11.6 million yuan from 271 million yuan a year earlier.
The company also said it is in discussions about the listing with relevant parties, while further details are still being finalized. SCMP Economy noted the plan comes as Hong Kong has seen a run of high-profile Chinese tech debuts in recent months.