On July 8, Biren Technology rose 4.39% in regular trading, trading at HK$47.08/share, with turnover of HK$171 million. The stock continued its low-level rebound for a second consecutive session after finding support near its placement price.

On July 5, the company announced a placement of 153 million new H shares at HK$46.20 each, representing a discount of approximately 9.94% to its July 3 closing price of HK$51.30 and approximately 17.53% to the five-day average price. The placement represents about 6.27% of issued share capital, with estimated net proceeds of approximately HK$7.038 billion. Approximately 60% of the funds will be used to accelerate commercialization and production ramp-up of next-generation GPGPU products, 20% for advanced R&D, 10% for strategic investments, and 10% for working capital.

The company noted that explosive growth in AI token consumption has driven GPGPU demand beyond expectations, and over 70% of IPO proceeds allocated to working capital have already been deployed. The current share price is stabilizing near the HK$46.20 placement price, which appears to be providing technical support for the ongoing recovery.

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