The company recently secured 700 million yuan, roughly $103.79 million, in a July funding round that valued the business at 8 billion yuan. To manage the upcoming listing, Kiwimoore has tapped CITIC Securities and ABC International as lead underwriters. Neither the firm nor the banks have provided official comments regarding the move.
Shanghai chip firm Kiwimoore eyes $2 billion Hong Kong IPO
Shanghai-based Kiwimoore has confidentially filed for a Hong Kong initial public offering, aiming for a valuation of approximately $2 billion. The chip designer, which specializes in networking technology for artificial intelligence infrastructure, plans to hit the public market by the first half of 2027.
Founded in 2021, the company develops specialized networking components designed to connect AI accelerators within computing clusters. Its growth strategy aligns with Beijing’s aggressive push for domestic semiconductor self-sufficiency, a pivot accelerated by U.S. export restrictions on advanced chip technology. By positioning itself at the center of China’s AI supply chain, Kiwimoore seeks to capitalize on the widening gap between domestic demand and foreign-sourced hardware.
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