Tencent-backed Shanghai Enflame Technology surged nearly 200% in its Shanghai debut after raising $912 million through its IPO. Strong investor demand reflects China’s push for domestic AI chips amid US restrictions. Despite rapid revenue growth, Enflame remains loss-making and heavily dependent on Tencent, which accounted for 83.79% of 2025 revenue.
Read more at the source
Disclaimer: The content of this post is sourced from external sites and is for informational purposes only. All rights and credits belong to the original authors and publishers.