Enflame Technology, one of China’s leading semiconductor start-ups for artificial intelligence (AI), will open subscriptions on September 2 for an initial public offering aiming to raise 765 million euros.
In a statement sent today to the Shanghai Stock Exchange, the company indicated that it will sell about 43 million shares at a price yet to be determined, although in the documentation submitted with its application for admission to the Shanghai exchange, it stated that it intends to raise about six billion yuan (765 million euros).
Enflame is known as one of China’s “four little dragons” in the AI semiconductor sector, along with MetaX, Moore Threads, and Biren Technology, being the last of this group to move toward a stock market listing.
The others carried out large-scale initial public offerings between the end of 2025 and early 2026.
Read more about this topic: Xi Jinping promotes China as a responsible AI leader amid Trump’s accusations of theft (with video)
Enflame’s debut will also serve to gauge investor appetite, after Moore Threads surged 425% in its first stock market session, MetaX 693%, and Biren 76%.
Last week, Unitree Robotics, China’s best-known humanoid robot manufacturer, also logged a dazzling debut by gaining 460% on Shanghai’s STAR market, known as the “Chinese Nasdaq” due to its concentration of technology companies.
Since then, Unitree shares have lost almost 45% from the peak reached on the day of their debut. Founded in 2018 and headquartered in Shanghai, Enflame will reserve approximately 8.6 million shares for strategic investors.
The funds raised will be used for the development and commercialization of the company’s fifth- and sixth-generation semiconductors, strengthening supply chains, and improving independent innovation capacity.
Read more: The US’ FCC humanoid robot restrictions land weeks before Trump hosts Xi. China says the move is already damaging trade relations (with video)
The “four little dragons” have benefited from restrictions imposed by Washington on the export to China of certain advanced semiconductors from the American firm Nvidia, as part of the trade and technological dispute between the world’s two largest economies.
U.S. limitations opened up space in the Chinese market for domestic manufacturers of processors intended for AI, at a time when Beijing seeks to reduce dependence on foreign technology.
Investor interest in these companies has likewise been boosted by support from the Chinese government for the semiconductor sector, considered a priority in the country’s technological self-sufficiency strategy and in the five-year plan that will guide the world’s second-largest economy through 2030.
