BIREN TECH (06082) saw its shares rise more than 12% during the trading session. At the time of writing, the stock was up 9.22%, trading at HKD 38.86, with a turnover of HKD 405 million. The surge follows news that, around the Spring Festival period in 2026, a wave of major domestic AI models has been released in China. Biren Tech's flagship product, the Biren 166 series, has achieved efficient compatibility with leading models such as Zhipu GLM-5, MiniMax M2.5, DeepSeek, and Qwen3.5. Leveraging its high computing power, high versatility, and fully self-developed software stack, the company has established itself as a core computational foundation supporting the intense competition among numerous AI models. Shenwan Hongyuan previously issued a research report stating that Biren Tech is a key enterprise in the domestic AI chip sector, being the first to commercialize the Mixture-of-Experts architecture and achieve breakthroughs in linear attention mechanisms. The computing power of its BR166 chip is reported to be double that of the BR106. The company has also seen a reduction in customer concentration, with reliance on major clients continuing to ease. Its next-generation BR20X chip is expected to launch in 2026, and with backing from state-owned capital, the rationale for domestic substitution remains strong.