Biren Tech's stock surged 5.61% during pre-market trading on Thursday, reflecting strong investor sentiment towards the semiconductor company.

The significant upward movement follows recent analyst coverage initiations. BOCI commenced coverage on Biren Technology with a Buy rating and a target price of HKD 74.43, highlighting the company's position as a leading domestic GPGPU manufacturer poised to capitalize on exponential growth in China's AI computing demand. The firm projects a 137% revenue CAGR from 2025 to 2028, with breakeven anticipated in 2027, driven by the commercialization of next-generation products in the second half of 2026.

Furthermore, Everbright Securities had also previously initiated coverage with a Buy rating, expressing optimism regarding the volume ramp of the company's high-performance chips, including the BR166 and BR20X series. The concentrated initiation of coverage by multiple brokerages, combined with sustained positive momentum in the domestic AI computing sector, is cited as a key catalyst supporting the stock's current upward trajectory.