A leading domestic computing power company is rushing toward the ChiNext market: Super Fusion’s IPO has been accepted for review, and it plans to raise 8 billion yuan

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【Caixin】 Another domestic leading company in the AI industry chain is making a push to IPO. On May 22, the website of the Shenzhen Stock Exchange showed that Super Fusion Digital Technology Co., Ltd. (hereinafter referred to as “Super Fusion”)’s GEM IPO has been accepted for review, and it disclosed the prospectus for its initial public offering and listing on the Growth Enterprise Market (application draft).

The prospectus shows that, for this offering, Super Fusion plans to publicly issue no fewer than 97.8135 million shares and no more than 220 million shares, representing no less than 10% and no more than 20% of the total share capital after the issuance. The company plans to raise net proceeds of RMB 8 billion; based on this, the issue valuation could reach RMB 80 billion.

Of the RMB 8 billion raised, RMB 4.08 billion will be invested in the R&D and industrialization projects for the next-generation computing infrastructure, RMB 2.03 billion will be used for the Super Fusion smart manufacturing park and R&D center projects, RMB 0.89 billion will go to key technology R&D projects for intelligent computing power, AI, and power supply architecture, and another RMB 1 billion will be used to supplement working capital.

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