Shanghai-based GPU developer BIREN TECH (Shanghai Biren Technology Co., Ltd.) reported a sharp improvement in interim performance for the six months ended 30 June 2026, driven by large-scale shipments of its “Bili” general-purpose GPU (GPGPU) solutions and growing demand for artificial-intelligence computing clusters.

Financial highlights • Revenue jumped 1,997.6% year on year to RMB 1.24 billion, fuelled by a rise in intelligent-computing-solution sales to RMB 1.17 billion (1H 2025: RMB 58.15 million). • Gross profit increased 2,708.5% to RMB 527.13 million, lifting gross margin 10.8 percentage points to 42.7%, primarily on higher-margin cloud-training products. • Research & development spend expanded 40.7% to RMB 804.43 million, underscoring continued investment in next-generation chips, software and optical-interconnect SuperPods. • Period loss contracted 76.4% to RMB 377.23 million; adjusted non-IFRS loss narrowed 38.9% to RMB 337.25 million. Loss per share fell to RMB 0.16 from RMB 0.93. • Net finance swung to income of RMB 19.94 million (1H 2025: RMB 1.01 billion cost) after redemption liabilities were derecognised on IPO completion in January 2026.

Balance-sheet and liquidity • Total liquidity reached RMB 6.15 billion (cash, deposits and similar), more than doubling December 2025 levels. • Gearing ratio collapsed to 11.1% from 502.9% after preferred-share redemption liabilities were converted to equity at listing. • Inventories rose 28.1% to RMB 1.21 billion; trade receivables more than doubled to RMB 1.12 billion, reflecting accelerated deliveries. • Net proceeds of HKD 6.20 billion (c.RMB 5.63 billion) from the January IPO were 31% deployed by period-end, mainly toward R&D. An additional HKD 7.04 billion was raised via a placing of 153 million new H-shares on 8 July 2026 (post-period).

Operational progress • Customer base now includes major internet platforms, AI model developers and national data-centre operators; volume deliveries to top internet clients began in 1H 2026. • “LightSphere” optical-interconnected GPU SuperPods achieved >30% training-throughput gains on MoE models and have been deployed at multi-thousand-card scale. • The BIRENSUPA software stack completed “Day 0” adaptation for dozens of leading large language and multimodal models and now supports 1,000+ AI models. • Next-generation Chiplet-based GPUs and BLink 2.0 interconnect remain on schedule, enabling clusters of up to 1,024 GPUs; 1,917 patent applications filed to date, with 1,006 granted.

Capital allocation & outlook Management plans to deploy 85% of IPO proceeds and 80% of July’s placement funds to accelerate R&D, commercialisation and next-generation product scaling through 2029. No interim dividend was declared.

BIREN TECH forecasts continued momentum from escalating AI compute requirements, emphasising full-stack hardware–software integration, optical-interconnect SuperPods and reinforced supply-chain capacity as key differentiators in the domestic GPU race.