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Chinese GPU startup designing general-purpose AI computing chips as a domestic Nvidia alternative.
Chinese GPU startup designing general-purpose AI computing chips as a domestic Nvidia alternative.
Sells GPU cards and complete servers to Chinese cloud and AI operators, so revenue arrives in large project orders from a few customers. It has yet to turn a profit, and the Hong Kong listing raised funds to keep developing chips. The US trade blacklist added it in 2023, limiting access to the most advanced foreign chip manufacturing.
In one line: A small Chinese Nvidia challenger.
Moat: narrow (IP / patents, process know-how). First mainland Chinese GPU maker to list in Hong Kong, riding China's AI-chip localization push, but unproven at scale versus Nvidia.
Headquarters: Shanghai, China · Founded: 2019
Size Shanghai Biren Technology (6082.HK) is a Hong Kong Information Technology company (Semiconductors) with a market value of $6.03B, the 234th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$19.39 on 6 Nov 2026.
Performance Over six months the shares fell 66.9%, against -18.8% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — lowest of 20 in its peer set.
Growth Revenue grew 541.6% over the last twelve months (peer median +26.0%); the operating margin is -47.5% (peer median 17.5%).
Valuation It trades at 16.4× enterprise value to sales against a peer median of 6.1× (4th most expensive of 21).
Capital Return on invested capital runs 25.9 points below its cost of capital (5.3% WACC).
Next results Next results expected around 3 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$2.48B | HK$1.12B | HK$365M | HK$68.5M | HK$580,276 |
| Revenue growth | — | +207% | +433% | +11,712% | — |
| Gross profit | HK$1.19B | HK$452M | HK$66.0M | -HK$168M | -HK$205M |
| EBITDA | -HK$947M | -HK$1.28B | -HK$896M | -HK$1.08B | -HK$1.28B |
| Net income | -HK$16.7B | -HK$17.9B | -HK$1.67B | -HK$1.93B | -HK$1.71B |
| Free cash flow | -HK$4.04B | -HK$2.66B | -HK$1.16B | -HK$1.04B | -HK$1.57B |
| Capital expenditure | HK$616M | HK$381M | HK$109M | HK$154M | HK$225M |
| Total debt | n/a | HK$32.0B | HK$9.63B | HK$8.89B | HK$8.34B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| Shanghai Biren Technology 6082.HK | $6.03B | -67% | +542% | -47% | 16.4× | n/a |
| Shanghai Iluvatar CoreX Semiconductor 9903.HK | $6.06B | -6% | +158% | -65% | 24.9× | n/a |
| Cambricon Technologies 688256.SS | $75.7B | -30% | +104% | 33% | 44.3× | n/a |
| Nvidia NVDA | $4.50T | -13% | +83% | 65% | 14.7× | 26.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 6082.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -43.7% | -20.0% | 2nd lowest of 21 |
| 6-month return | -66.9% | -18.8% | lowest of 20 |
| Distance from 52-week high | -72.6% | -53.9% | lowest of 21 |
| Revenue growth (TTM) | +541.6% | +26.0% | highest of 21 |
| Operating margin | -47.5% | 17.5% | 3rd lowest of 21 |
| EV / Sales | 16.4× | 6.1× | 4th most expensive of 21 |
| ROIC minus cost of capital | -25.9 pp | -2.9 pp | lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shanghai Biren Technology 6082.HK | Hong Kong | $6.03B | -67% | +542% | -47% | 16.4× | n/a | n/a |
| Shanghai Iluvatar CoreX Semiconductor 9903.HK | Hong Kong | $6.06B | -6% | +158% | -65% | 24.9× | n/a | n/a |
| Yangzhou Yangjie Electronic Technology 300373.SZ | China | $5.99B | -3% | +29% | 18% | 4.4× | 18.1% | +22.3% |
| Hangzhou Silan Microelectronics 600460.SS | China | $5.93B | -18% | +12% | 2% | 3.2× | n/a | n/a |
| Beijing YanDong MicroElectronic 688172.SS | China | $5.86B | -26% | +22% | -89% | 24.2× | n/a | n/a |
| Amlogic (Shanghai) 688099.SS | China | $5.84B | -13% | +39% | 17% | 4.2× | n/a | n/a |
| SG Micro 3661.HK | Hong Kong | $5.78B | n/a | +54% | 17% | 6.1× | 3.4% | +25.8% |
| GRINM Semiconductor Materials 688432.SS | China | $6.34B | +131% | +36% | 19% | 30.8× | n/a | n/a |
| Henan Shijia Photons Technology 688313.SS | China | $5.72B | -36% | +73% | 22% | 11.8× | n/a | n/a |
| FormFactor FORM | United States | $6.36B | -45% | +29% | 21% | 6.1× | 22.4% | +2.5% |
| Unigroup Guoxin Microelectronics 002049.SZ | China | $6.37B | -35% | -1% | 18% | 6.9× | 24.4% | +13.5% |
| Cirrus Logic CRUS | United States | $5.69B | -34% | +6% | 23% | 2.4× | 1.5% | +7.8% |
| TCL Zhonghuan Renewable Energy Technology 002129.SZ | China | $5.68B | +9% | +13% | -27% | 3.6× | n/a | n/a |
| Espressif Systems (Shanghai) 688018.SS | China | $5.61B | +30% | +23% | 19% | 11.7× | 36.0% | +25.3% |
| Silicon Motion Technology Corporation Sponsored ADR SIMO | United States | $5.52B | -36% | +104% | 21% | 3.2× | n/a | n/a |
| Sigmastar Technology 301536.SZ | China | $5.41B | +4% | +99% | 31% | 6.7× | 19.6% | +20.0% |
| Suzhou Maxwell Technologies 300751.SZ | China | $6.72B | -33% | -26% | 6% | 7.5× | 47.7% | +29.0% |
| GalaxyCore 688728.SS | China | $5.41B | +1% | +16% | 3% | 5.2× | 28.8% | +3.8% |
| Jinko Solar 688223.SS | China | $6.73B | -34% | -18% | -11% | 1.3× | n/a | n/a |
| Rohm 6963.T | Japan | $6.76B | -19% | +12% | 4% | 2.0× | n/a | n/a |
| Hubei Feilihua Quartz Glass 300395.SZ | China | $5.35B | -38% | +50% | 24% | 13.3× | n/a | n/a |