AI chip company Enflame Technology's IPO on the STAR Market approved

Odaily Planet Daily reported that the Shanghai Stock Exchange website shows that the IPO application of Shanghai Enflame Technology Co., Ltd. (hereinafter referred to as "Enflame") on the STAR Market has been reviewed and approved by the exchange's listing review committee. Enflame initiated its IPO guidance in August 2024 and completed the guidance acceptance in January this year. It is noteworthy that the company changed its guidance institution from CICC to CITIC Securities in October last year, and its listing application was accepted by the Shanghai Stock Exchange on January 12, 2025.

According to the prospectus, Enflame Technology plans to raise 6 billion yuan this time, which will be invested in the research and development and industrialization projects of the fifth-generation AI chip series products, the research and development and industrialization projects of the sixth-generation AI chip series products, and the advanced artificial intelligence software and hardware collaborative innovation project. (Caixin)