TECH

Moore Threads Plans Hong Kong Listing to Fuel AI Chip Push

Published: Aug. 10, 2026 11:10 p.m. GMT+8

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On Aug. 9, Chinese GPU company Moore Threads announced plans to apply for a listing on the main board of the Hong Kong Stock Exchange. Photo: VCG

Chinese GPU developer Moore Threads Technology Co. Ltd. said it plans to issue offshore shares and seek a listing in Hong Kong, subject to shareholder approval.

The proposed dual listing underscores the heavy capital demands facing China’s domestic chip designers as they compete for supply chain resources and try to capture fast-growing artificial intelligence demand under tightening U.S. export controls.

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What Happened When

2020-10：: Moore Threads is founded.

2023-10：: Moore Threads is added to the U.S. Entity List.

2024：: Moore Threads launches its fourth-generation Pinghu chip (supports FP8 precision for large-model training).

2024-06：: China Mobile launches a computing cluster in Hohhot with a localized equipment rate of more than 95%.

2024-08：: A similar computing facility in Harbin reaches 100% domestic chip usage.

2024-10：: ByteDance finds Cambricon's AI chips unexpectedly effective and stable; deploys them in core applications including search, advertising and inference for its Doubao model.

2025：: Moore Threads mass-produces the Pinghu chip; large internet companies begin to treat domestic AI chips as more than backups.

2025-06：: Metax Integrated Circuits announces plans to pursue a Hong Kong listing.

2025-10：: Cambricon raises 4 billion yuan in a fundraising round.

2025-12：: At a developer conference, Moore Threads unveils its next-generation Huagang architecture, the Huashan AI chip, and the Lushan chip.

2025-12-05：: Moore Threads lists on the STAR Market, raising nearly 8 billion yuan.

2026：: More AI chips built on local supply chains enter mass production; costs expected to fall sharply.

2026-H1：: Moore Threads reports revenue of 1.7 billion yuan (up 147.4% year-on-year) and net loss of 151 million yuan (narrowed 52.4%).

As of 2026-H1 report release：: Moore Threads' stock falls 3.7% to 575.9 yuan; market capitalization is 270.7 billion yuan (about 40% below its peak of 442.3 billion yuan).

2026-07：: At the World Artificial Intelligence Conference, a Moore Threads executive says the S5000 delivers inference performance on the GLM4.7 model at about half the level of Nvidia's H-series chips.

As of announcement (Sunday, likely mid-2026)：: Moore Threads plans to issue offshore shares and seek a listing in Hong Kong, subject to shareholder approval.

AI generated, for reference only