Backed Chinese AI Chip Maker Enflame Surges on Shanghai Stock Exchange

Tencent-backed Chinese AI chip maker Enflame Technology saw its shares increase significantly on its first trading day on the Shanghai Stock Exchange, reaching a notable market capitalization.

First Trading Day on the Shanghai Stock Exchange

Shanghai-based Enflame Technology drove its share value higher on its first day of trading following an initial public offering (IPO) held on Friday, bringing its market value to a prominent level.

The company opened well above its IPO price of 142.18 yuan and maintained a strong trajectory throughout the day.

Investor Interest and IPO Details

Enflame raised a total of approximately 6.12 billion yuan through the sale of 43.04 million shares, seeing high demand from retail investors.

This strong market response highlights the company's critical role, alongside other domestic startups in the sector, in China's goal of semiconductor independence.

Financial Expectations and Future Goals

Founded in 2018 and focusing on domain-specific architecture, the company announced in its prospectus that it expects high revenue growth in the first nine months of 2026.

Enflame aims to achieve consolidated profitability in the coming years alongside this growth momentum.