Browsing Tag
Shanghai Enflame Technology
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Enflame’s $908m IPO draws 6,109x demand despite 84% Tencent dependence
Shanghai Enflame Technology is seeking roughly RMB6.12 billion through its STAR Market IPO after online demand exceeded available shares thousands of times, but an 83.8% revenue concentration with Tencent and continuing losses make the offering a high-expectation test of China’s domestic AI chip boom.