Moore Threads plans H-share issuance and Hong Kong main-board listing

Aug 9, 2026

Chinese AI chipmaker Moore Threads Technology Co. plans to list on the Hong Kong Stock Exchange to attract international capital and talent. The move follows a spectacular December 2025 Shanghai IPO where shares surged over 420%, raising $1.1 billion. Founded by a former Nvidia executive, the firm pivoted from gaming to AI chips amid tightening US export controls. Backed by Tencent and ByteDance, Moore Threads reported a 147% jump in first-half 2026 revenue to 1.74 billion yuan while narrowing its net loss to 11.6 million yuan.

Hong Kong listing plan

▪Moore Threads Technology Co. plans to issue H shares in Hong Kong to deepen its internationalization strategy, attract research and development talent, and enhance corporate competitiveness.
▪Moore Threads Technology Co. is actively discussing its Hong Kong listing plans with relevant parties, though further details of the offering have not been finalized.
▪Beijing-based artificial intelligence chipmaker Moore Threads Technology Co. plans to list on the main board of the Hong Kong Stock Exchange at an appropriate time.

Shanghai IPO performance

▪Moore Threads Technology Co. debuted on Shanghai's Sci-Tech Innovation Board, also known as the STAR Market, in December 2025.
▪The Shanghai initial public offering of Moore Threads Technology Co. raised approximately 8 billion yuan, equivalent to about $1.1 billion.
▪Shares of Moore Threads Technology Co. surged approximately 420% to 425% on their first day of trading, closing near 600 yuan from an offering price of 114.28 yuan.

First-half 2026 financial results

▪Moore Threads Technology Co. recorded a 147% year-on-year jump in revenue to 1.74 billion yuan ($252 million) for the six months ended June 2026.
▪Moore Threads Technology Co. reported a first-half 2026 net loss of 11.6 million yuan ($1.72 million), narrowing from a 270.9 million yuan loss in the same period of 2025.

AI chip pivot strategy

▪Moore Threads Technology Co. was founded in 2020 by James Zhang Jianzhong, a former executive at the American chipmaker Nvidia.
▪Moore Threads Technology Co. initially developed graphics processing units for consumer gaming before pivoting to artificial intelligence training and inference chips.

China semiconductor self-sufficiency

▪Moore Threads Technology Co. pivoted its focus toward artificial intelligence chips as United States export restrictions on advanced semiconductors tightened.
▪The investor and customer base of Moore Threads Technology Co. includes major Chinese technology firms ByteDance and Tencent, alongside Sequoia China and GGV Capital.