Biren Technology's revenue last year was 1 billion yuan, more than doubling. The next-generation BR20X chip is scheduled to be officially launched this year.

“China’s homegrown GPU “Four Tigers”” Biren Technology (06082.HK) saw 207% revenue growth in 2025.

After the market close on March 30, Biren Technology released its full-year 2025 results announcement. In 2025, the company’s revenue was RMB 1.035 billion, up 207.2% year over year. Gross profit was RMB 557 million, up 210.8%, with a gross margin of 53.8%, up 63 basis points year over year.

During the reporting period, the company’s R&D spending was RMB 1.476 billion, up 78.5% year over year. Adjusted net loss for the year was RMB 874 million; the loss widened by 13.9% year over year, reflecting the company’s ongoing sustained investment in R&D for new products to meet future market demand.

Biren Technology performance highlights. Source: annual report

Biren Technology is a Chinese high-performance general-purpose computing chip company founded in 2019. Headquartered in Shanghai, it focuses on developing general-purpose GPUs and AI acceleration chips, aiming to provide compute power solutions for AI training, inference, and high-performance computing.

In January this year, as the first new IPO of Hong Kong stocks for the new year, Biren Technology officially began trading on the Hong Kong Stock Exchange. On the 30th, Biren Technology’s share price fell 0.77% to close at HKD 28.36 per share, with a total market value of HKD 69.2 billion.

The financial report shows that by the end of the reporting period, Biren Technology held a total of RMB 2.896 billion in cash and cash equivalents, bank deposits, restricted cash, and liquid financial assets measured at fair value with changes recognized in profit or loss. Together with the net proceeds of RMB 5.631 billion from the listing of the company’s H shares on the Hong Kong Stock Exchange at the beginning of 2026, this provides sufficient funding support for ongoing technology R&D, capacity expansion, and commercial rollout.

Meanwhile, by the end of 2025, the company’s inventory balance reached RMB 949 million, up 520.4%, to meet strong downstream demand and ensure supply chain resilience.

During the reporting period, the company successfully delivered multiple large-scale intelligent computing cluster projects, including the 2048-card optical interconnect optical switching GPU supernode cluster and multiple market-driven intelligent computing clusters at the several-thousand-card level. The customers include national-level compute power platforms, telecom operators, commercial AIDCs, AI/model companies, and enterprise customers.

In terms of product iterations, the company’s next-generation BR20X chip and its full product lineup are planned to be launched in 2026. According to the introduction, while maintaining a leading position in training, it has been optimized to meet the demand for exponential compute-power growth in the inference era with more precise “fit.” Compute density, memory capacity and bandwidth, and interconnect capabilities are comprehensively upgraded, supporting low-precision computing such as FP8/FP4, achieving breakthroughs in both performance and energy efficiency.

Looking ahead, Biren Technology believes that system efficiency, ecosystem prosperity, and supply chain resilience are the foundational cornerstones for the global AI industry’s development. The company will continue to focus on four strategic directions: forward-looking R&D, deepening the integration of its business model, building a robust supply chain, and establishing an AI-driven organization.

Previously, according to the company’s prospectus, Biren Technology achieved rapid revenue growth from 2022 to 2024, reaching RMB 0.499 million, RMB 62.03 million, and RMB 337 million, respectively. In the same period, net losses were RMB 1.474 billion, RMB 1.744 billion, and RMB 1.538 billion, respectively.

（Source: The Paper）