Chip developer Shanghai Enflame Technology (SHA:688801) filed for an initial public offering of 43 million shares, representing 10% of its post-IPO capital, on Shanghai's STAR Market, according to a prospectus filed Tuesday.

Proceeds will fund the research and development and industrialization of its fifth‑ and sixth‑generation artificial intelligence chip series, as well as an advanced AI software‑hardware collaborative innovation project.

Citic Securities serves as lead underwriter, with Guotai Haitong Securities and GF Securities as joint lead underwriters.