Chinese semiconductor company Kiwimoore is reportedly preparing for an initial public offering in Hong Kong, targeting a valuation of about $2 billion as China continues to strengthen its domestic technology and semiconductor industry.
According to Reuters, the Shanghai-based chip designer has confidentially filed for a Hong Kong IPO and is aiming to complete the listing in the first half of 2027, according to sources familiar with the matter.
Founded in 2021, Kiwimoore develops networking technology designed to connect artificial intelligence accelerators within large computing clusters. Its technology is positioned to benefit from the growing demand for AI infrastructure and high-performance computing.
The company reportedly raised about 700 million yuan ($103.8 million) in a funding round in July at a valuation of approximately 8 billion yuan. Sources said Kiwimoore has selected CITIC Securities and ABC International to lead the planned Hong Kong listing.
The proposed IPO comes as China accelerates efforts to build a more self-sufficient semiconductor and AI supply chain, particularly following U.S. restrictions on exports of advanced chips and related technologies to Chinese companies.
Kiwimoore and the banks involved had not publicly commented on the planned listing at the time of the report.
The move could make Kiwimoore one of the latest Chinese technology companies seeking to tap Hong Kong’s capital markets as investor interest in AI, semiconductor infrastructure and domestic chip development continues to grow.
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