IPO News | Tianshu Zhixin heard through the Hong Kong Stock Exchange that GM GPU product shipments continued to rise

The Zhitong Finance App learned that according to the Hong Kong Stock Exchange's disclosure on December 19, Shanghai Tianshu Zhixin Semiconductor Co., Ltd. (abbreviation: Tianshu Zhixin) passed the Hong Kong Stock Exchange main board listing hearing, and Huatai International was the sole sponsor.

According to the prospectus, Tianshu Zhixin provides general-purpose GPU products and AI computing power solutions for different industries. The company's product portfolio mainly includes general-purpose GPU chips and accelerators, as well as customized AI computing power solutions (including general-purpose GPU servers and clusters), combining the company's hardware with proprietary software stacks to meet the specific needs of customers in training and inference scenarios.

According to Frost & Sullivan's data, among Chinese chip design companies, Tianshu Smart Chip is the first company to achieve mass production of general-purpose inference GPU chips, the first company to achieve mass production of training general-purpose GPU chips, and the first company to achieve such milestones using advanced 7nm process technology.

In recent years, the development of AI, particularly the rise of big language models, has driven a sharp increase in demand for computing power. In this context, general-purpose GPU products and solutions have become widely used as critical infrastructure to support large language models and deploy complex AI applications due to their parallel computing capabilities and adaptability to diverse computing tasks.

In order to cope with the growing demand for general-purpose GPUs brought about by the development of AI technology, Tianshu Zhixin strategically established its market position through the core concept of software and hardware collaborative design. The company's hardware architecture seamlessly integrates various chips and cluster systems, while the company's high-speed multi-card cluster technology enables expansion from a single node to large-scale deployment.

The company's comprehensive software stack, including compilers, drivers, function libraries and frameworks, provides compatibility with mainstream general GPU programming ecosystems and platforms, so it can be easily deployed with minimal code refactoring or modification. Through three generations of general-purpose GPU architecture iterations and continuous optimization of software stacks, the company has shown continuous progress in computing performance, broad compatibility with efficient integration, and adaptability in diverse application scenarios.

As of June 30, 2025, Tianshu Zhixin has served more than 290 customers from different industries. The company's products and solutions have enabled more than 900 deployments and applications in important industries such as financial services, healthcare and transportation, while supporting industrial digital transformation from manufacturing to retail, as well as basic research and educational computing applications. The company's general-purpose GPU product shipments increased from 7.8,000 in 2022 to 12.7,000 in 2023, and further increased to 16.8,000 in 2024, and increased from 4.8,000 units in the six months ended June 30, 2024 to 15.7,000 units in the six months ended June 30, 2025.

On the financial side, in 2022, 2023, 2024, and 2025 for the six months ending June 30, Tiansu Zhixin achieved revenue of about 189 million yuan, 289 million yuan, 540 million yuan, and 324 million yuan respectively. In the same period, the company achieved gross profit of about 112 million yuan, 143 million yuan, 265 million yuan, and 162 million yuan, respectively.