BUSINESS

Cambricon Wins Approval for $559 Million Share Sale Amid Stock Frenzy

Published: Sep. 11, 2025 4:25 a.m. GMT+8

00:00

00:00/00:00

Listen to this article 1x

On Aug. 28, Cambricon’s share price peaked at a record 1,595.88 yuan, briefly overtaking Kweichow Moutai Co. Ltd. as the most valuable stock in China

Chinese AI chip designer Cambricon Technologies Corp. Ltd. has received regulatory approval to proceed with a scaled-down private share placement, following a remarkable 500% rally in its share price over the past year.

The China Securities Regulatory Commission approved the plan, Cambricon said in a Tuesday filing to the Shanghai Stock Exchange. While pricing details were not disclosed, the market is closely watching how the company will value the offering amid its meteoric stock rise.

You've accessed an article available only to subscribers

Subscribe today for just $.99.

VIEW OPTIONS

Unlock exclusive discounts with a Caixin group subscription — ideal for teams and organizations.

Subscribe to both Caixin Global and The Wall Street Journal — for the price of one.

Share this article

Open WeChat and scan the QR code

DIGEST HUB

Digest Hub

Back

What Happened When

2020：: Cambricon Technologies conducted its initial public offering (IPO).

April 2023：: Cambricon raised 1.672 billion yuan in a private share placement.

First half of 2024：: Cambricon reported a 609-million-yuan loss.

September 2024：: Cambricon shares began to surge, boosted by tightening U.S. export restrictions and domestic demand.

April 2025：: Cambricon announced a plan to raise nearly 5 billion yuan via private placement.

July 2025：: Cambricon reduced its proposed private placement fundraising by almost 1 billion yuan after concerns from the Shanghai Stock Exchange.

July 17, 2025：: Cambricon disclosed an estimated funding gap of 6.171 billion yuan over the next three years in a formal reply to the Shanghai Stock Exchange.

First half of 2025：: Cambricon's revenue jumped 4,347.8% year-on-year to 2.88 billion yuan; the firm posted its first-ever midyear profit of 913 million yuan, and operating cash flow turned positive for the first time.

August 28, 2025：: Cambricon's share price peaked at a record 1,595.88 yuan, briefly overtaking Kweichow Moutai as the most valuable stock in China.

September 9, 2025：: China Securities Regulatory Commission approved Cambricon's scaled-down private share placement. Cambricon filed this information to the Shanghai Stock Exchange.

AI generated, for reference only