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interface news reporter | li biao

interface news editor | wen shuqi

after cambrian went public in 2020 and became the "first ai chip stock on the science and technology innovation board", the a-share market is expected to welcome another highly-anticipated ai chip unicorn company.

on august 28, the official website of the china securities regulatory commission was updated to show that shanghai suiyuan technology co., ltd. (hereinafter referred to as "suiyuan technology") signed a listing guidance agreement with cicc on august 23, 2024, officially launching the a-share ipo process.

according to the official website, suiyuan technology is a domestic ai chip design company that mainly engages in the research and development of cloud computing products in the field of artificial intelligence. its products include ai acceleration cards, intelligent computing clusters, supporting software and platforms.

enflame was founded in august 2018. its founder and ceo zhao lidong graduated from the department of wireless communications at tsinghua university. he has worked in the semiconductor chip industry in silicon valley for more than 20 years and served as senior director of product engineering at amd. another founder and coo zhang yalin also worked at amd for 11 years, leading amd's shanghai r&d center to successfully develop and mass-produce multiple flagship processors, and has extensive engineering and technical experience.

around 2018, china was experiencing a wave of ai chip entrepreneurship. according to statistics from consulting firm ccid, the market size of china's ai chip market reached rmb 8.08 billion in 2018, an increase of 50.2% in one year, accounting for about 26% of the global market share.

zhao lidong once revealed in an interview with the media that when suiyuan technology was founded three years ago, it wanted to make "big chips". at that time, there were three entrepreneurial options: cpu, gpu and ai. in the end, suiyuan chose ai and has since invested in the research and development of ai computing chips. in december 2019, one year after its establishment, suiyuan technology released its first-generation ai training chip, suisi 1.0. at present, its ai training chip has been upgraded to the second-generation suisi 2.0. at the same time, the company has also developed a number of ai inference chips.

as generative ai continues to heat up, domestic ai computing power has been in short supply for a long time, especially in the training of large ai models (large ai models are mainly divided into two stages: training and reasoning). the high-performance computing chips that can support the training of large ai models are in short supply in the market. suiyuan technology is focusing on this field, mainly providing underlying computing services for internet companies, cloud vendors, operators, and scientific research institutions. since last year, it has started the construction and cooperation of intelligent computing centers in chengdu, sichuan, yichang, hubei, and qingyang, gansu.

as a star company in a popular track, suiyuan technology has completed ten rounds of financing in six years, with a cumulative financing amount of nearly 7 billion yuan.

in april this year, hurun research institute released the "2024 global unicorn list", and suiyuan technology was on the list. the company's valuation reached 16 billion yuan, ranking 482nd in the world.

at present, in the company's equity structure, shanghai state-owned enterprise shanghai science and technology investment, semiconductor industry fund wuyuefeng capital, national semiconductor integrated circuit fund (big fund phase ii), tencent and other institutions are all shareholders of the company. among them, tencent has participated in six consecutive rounds of investment and is the company's largest shareholder, holding approximately 20.49% of the shares.

the two founders of suiyuan technology, zhao lidong and zhang yalin, hold the same proportion of shares, 10.83% each. the two signed a concerted action agreement and together control 32.5087% of the company's voting rights, making them the company's joint actual controllers. according to the csrc filing report, since there is no single shareholder entity that directly holds more than 30% of the shares, the company currently has no controlling shareholder.