New Stock News | Denglin Technology Passes HKEX Hearing, Ranked as the Third-Largest Company in China's Enterprise AI GPGPU Market

According to the disclosure by the Hong Kong Stock Exchange on October 25, Suzhou Denglin Technology Co., Ltd. (referred to as: Denglin Technology) has passed the listing hearing for the Main Board of the Hong Kong Stock Exchange, with CITIC SEC, China Securities Co.,Ltd. International, and BOC International as its joint sponsors. According to Frost & Sullivan, based on 2025 revenue, Denglin Technology is the third-largest company in China's enterprise AI GPGPU market, with a 1.0% market share. The prospectus shows that Denglin Technology is a general-purpose graphics processing unit (GPGPU) provider that develops and sells GPGPU products to meet the AI computing needs of various industries in China. Relying on its proprietary GPU+*(Minsky) architecture (the company's proprietary GPU chip architecture, which integrates GPGPU cores, AI acceleration units, and a high-bandwidth on-chip memory subsystem into a single chip in an on-chip heterogeneous manner), the company takes enterprise AI as its core target market and seeks to expand into the public cloud market and innovative fields such as Siasun Robot&Automation. Denglin Technology focuses on the development and sales of hardware products (especially GPGPU boards), supplying to original equipment manufacturers (OEMs), system integrators, and AI solution providers. The company operates under a fabless business model, which is the mainstream business model for companies in the semiconductor industry focused on chip innovation and architectural advancement. This model allows the company to concentrate resources on the design and development of energy-efficient GPGPUs while leveraging the expertise of third-party partners for manufacturing. Specifically, the company retains full control over the GPU+(Minsky) architecture, system software stack, and proprietary IP development, while wafer manufacturing, chip assembly, and testing are outsourced to foundries and OSAT providers. The company's GPGPU products are deployed in a wide range of enterprise AI application scenarios, including smart cities, enterprise private clouds, education, industrial quality inspection, industry large model deployment, and system integration. This model enables the company to remain capital-efficient while expanding product delivery in a diversified and growing AI market. The company also provides GPGPU-related technical services. The company offers chip design services, including hardware-software co-design, customized architecture for specific workloads, and optimization of models and algorithms for deployment in customer environments. Such services are typically project-specific, enabling the company to meet the unique requirements of various large enterprise customers. In addition, the company can license certain proprietary IP (such as computing engines and interconnect modules) for customers to integrate into their own chip designs. This business line strengthens the company's core business by expanding customer collaboration and increasing technology adoption. Denglin Technology's commercialization strategy emphasizes mainstream ecosystem compatibility and differentiated product performance, with products targeting high-growth AI verticals such as smart cities, smart vehicles, enterprise data centers, industrial automation, healthcare, and education. With its proprietary GPU+(Minsky) architecture and Hamming software stack, the company has established commercial partnerships with leading Chinese enterprises, system integrators, and solution providers. The company is expanding the application scope of its main products through a phased rollout while advancing the commercialization of next-generation products in the Minsky roadmap. Financially, for the years 2023, 2024, and 2025, and the four months ended April 30, 2026, the company achieved revenue of approximately RMB 27.934 million, RMB 82.634 million, RMB 171 million, and RMB 200 million, respectively; during the same periods, gross profit was approximately RMB 9.606 million, RMB 41.206 million, RMB 84.302 million, and RMB 102 million, respectively.