Moore Threads, a Chinese developer of artificial-intelligence chips, announced on Sunday (9) that it plans to list its shares on the Hong Kong Stock Exchange, after reporting a 147% increase in first-half revenue.
The board of the company, listed in Shanghai, approved a plan to issue H shares and list on the Main Board of the Hong Kong Stock Exchange. The company said the move aims to expand its international presence, attract and retain talent, and improve corporate governance and competitiveness.
The company’s revenue for the half-year ended June reached 1.7 billion yuan (US$ 252 million). The net loss fell to 11.6 million yuan, from 271 million yuan in the same period of the previous year.
Moore Threads said it is actively discussing the listing plan with relevant parties, with details still being finalized. The move adds to a year with several debuts by Chinese technology companies on the Hong Kong Stock Exchange.
