DeepZero rose over 152% in Hong Kong’s grey market trading, while Viewtrix Technology gained 52%, SDMC Technology shares rose 28%.
These three Chinese technology companies are eyeing listings in Hong Kong that could raise a combined $285 million, adding to the wave of offerings in the Asian financial hub as firms seek to capitalize on strong market sentiment.
Viewtrix Technology is planning the largest initial public offering of the three, as it aims to raise 1.10 billion Hong Kong dollars, equivalent to $140.5 million, by issuing 52.9 million shares at HK$20.81 each.
The Shenzhen-based company, which operates under a fabless business model, designs AMOLED smartphone displays. According to market research by Frost & Sullivan, it is the largest AMOLED display supplier in China and the fifth largest globally.
Viewtrix said it plans to allocate almost all of the net proceeds to the research, development and optimization of its display chips and drivers.
Shenzhen SDMC Technology makes smart home devices including media streaming terminals, speakers and Wi-Fi routers powered by its AI agent Cedar and device management software XHome. The company said the listing proceeds will support its global expansion and further investments in AI technologies and AI-related companies across the supply chain.
Beijing DeepZero develops AI agents based on open-source models for business marketing applications, designed to predict and improve advertising performance. The company has worked with major Chinese technology firms with media platforms, including Tencent, Kuaishou and ByteDance.
It said net IPO proceeds will be spent on AI research and development, sales network expansion and strategic acquisitions.
