Biren Technology (06082.HK) reported revenue surging nearly 20 times year-over-year, driven by rapid adoption of its domestic AI accelerators.
Following the market close on August 28, Biren Technology (06082.HK), a benchmark domestic GPU manufacturer, released its unaudited interim results for the first half of 2026. Driven by surging compute demand from generative AI and AI agent applications, the company’s 壁砺™ product series achieved scaled deliveries, triggering explosive revenue growth and a substantial expansion in gross margins. On the same day, the stock dipped slightly by 0.05% to close at HK$39.24, valuing the company at HK$101.7 billion. Market analysts project a positive outlook for trading to resume next week.
According to the Hong Kong Stock Exchange filing, the group reported revenue of RMB 1.236 billion for the six months ended June 30, 2026, representing a year-on-year increase of 1,997.6%. Gross profit reached RMB 527 million, up 2,708.5% year-on-year, pushing the combined gross margin to 42.7%, a 1,080 basis point improvement compared to the same period last year. The loss attributable to owners of the company narrowed significantly to RMB 377 million, down from RMB 1.601 billion in the prior-year period. On a non-IFRS adjusted basis, the interim loss was RMB 337 million, a 38.9% reduction from RMB 552 million last year. Basic and diluted earnings per share loss stood at RMB 0.16.
Biren Technology specializes in GPGPU-based general-purpose intelligent computing solutions. Its revenue streams are primarily derived from the sale of intelligent computing hardware, software licensing, extended warranty and support services, and commissioned R&D services. As of late June, the company’s customer base spans top-tier internet firms, AI large-model developers, national AI compute platforms, AI data centers, and telecommunications operators, alongside enterprise and government clients across AI solutions, manufacturing, energy and utilities, fintech, and education. The company confirmed it has successfully completed vendor certification with major internet clients and commenced bulk product deliveries, creating substantial room for further revenue scaling.
To secure reliable production capacity, Biren Technology has locked in sufficient key supply chain capacity, strengthening its resource allocation and full-chain operational capabilities in preparation for the mass production of next-generation products and client deliveries. As of June 30, 2026, inventory balances reached RMB 1.215 billion, a 28.1% increase from the end of 2025. Additionally, prepayments related to services totaled RMB 1.534 billion, surging 230.0% compared to the end of 2025. These figures provide a solid foundation for addressing robust downstream demand and ensuring supply chain resilience.
During the first half of the year, R&D expenses amounted to RMB 804 million, up 40.7% year-on-year, as the company continued heavy investment in next-generation chips, software stacks, and super-node optical interconnect systems. Biren Technology stands among the few domestic compute providers capable of independently developing GPGPU chips, maintaining a complete software stack, and delivering super-node system architectures, positioning it to benefit from China’s domestic AI compute infrastructure boom. However, industry observers note that the AI accelerator sector faces persistent headwinds, including intense competition from overseas rivals, high capital expenditures for chip development, lengthy customer onboarding and validation cycles, and foreign exchange volatility. Consequently, long-term challenges remain substantial, and the company still faces a considerable gap before achieving sustained profitability.
Notably, as a representative Hong Kong-listed hard-tech stock for domestic general-purpose GPUs, market attention will focus on whether Biren Technology gains favor with the evaluation committee of the HK Top 100 Research Center to be included in the candidate list for the 13th edition of the HK Top 100 awards. The selection process is currently in its preparatory phase, with registration channels for all candidate lists now officially open.