China’s homegrown GPU champion is heading to Hong Kong. Moore Threads said its board approved a plan to issue H shares and seek a listing on the Hong Kong Stock Exchange’s Main Board. The plan was approved August 7 and disclosed August 10, with the timetable and offering size still to be set.
The move comes as the company’s fortunes improve sharply. First-half revenue hit RMB1.74B, up 147.42% year on year, while its net loss narrowed 95.73% to RMB11.6M. Research and development spending reached RMB769.1M over the same period.
Moore Threads has positioned itself as a leading challenger to Nvidia in China, where US export controls have cut off access to advanced AI accelerators. The company’s products are seen as a domestic alternative for training and inference workloads, though analysts say its latest chips still trail Western leaders in software maturity and raw performance.
A Hong Kong listing would give the firm access to international capital while staying close to Chinese investors, who already trade its shares on the STAR Market. The dual-market strategy mirrors moves by other Chinese semiconductor names seeking deeper pools of funding as the AI buildout accelerates.
The company has not commented on a timeline. If the listing proceeds, it would rank among the most closely watched tech IPOs of the year.
