Suiyuan Technology's STAR Market IPO was approved by the listing committee on June 15; its application was accepted on Jan. 22 and cleared after two rounds of inquiry. Moore Threads and Muxi listed on the STAR Market in Dec. 2025 and each now trades near CNY300 billion market value; Biren Technology listed on HKEX in Jan. 2026 with a market cap above HKD130 billion. With Suiyuan cleared, the four firms dubbed the "domestic GPU four small dragons" could be together on public markets, a notable ca

Suiyuan Technology's STAR Market IPO was approved by the listing committee on June 15; its application was accepted on Jan. 22 and cleared after two rounds of inquiry. Moore Threads and Muxi listed on the STAR Market in Dec. 2025 and each now trades near CNY300 billion market value; Biren Technology listed on HKEX in Jan. 2026 with a market cap above HKD130 billion. With Suiyuan cleared, the four firms dubbed the "domestic GPU four small dragons" could be together on public markets, a notable capital-market milestone for China's chip sector. Muxi is pursuing an H‑share listing and Biren's A‑share listing counseling has progressed to its sixth filing phase.