Moore Threads plans Hong Kong listing after 147% revenue jump

Moore Threads, a Chinese AI chip manufacturer, has revealed intentions to pursue a listing on the Hong Kong Stock Exchange after experiencing a remarkable 147% increase in revenue for the first half of the year. This company, which competes with Nvidia, aims to expand its "international strategic footprint," improve talent acquisition and retention, and bolster corporate governance and core competitiveness. The board has sanctioned the issuance of H shares and a main board listing, with specifics still to be determined. For the six months ending in June, Moore Threads recorded revenue of 1.7 billion yuan (US$252 million) and reduced its net loss to 11.6 million yuan from 271 million yuan the previous year. This listing initiative contributes to a vibrant year for the Hong Kong stock market, which has witnessed numerous debuts from Chinese tech firms, coinciding with a surge in domestic computing power demand as China aims to lessen its dependence on foreign chip technologies.