Enflame Technology, one of the main Chinese semiconductor ‘start-ups’ for artificial intelligence (IA), will open on September 2 the subscriptions for an initial public offer, aiming to capture 765 million euros.
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26/08/2026
by
Lusa
Na statement sent today to Shanghai Stock Exchange, the company indicated that it will sell around 43 million shares, at an undetermined price, although in the documentation presented in Shanghai Stock Exchange application it has advanced that it intends to capture around six billion yuan (EUR 765 million).
Enflame is known as one of the Chinese “four small dragons” in the semiconductor sector for AI, along with MetaX, Moore Threads and Biren Technology, and is the last of this group to advance to the stock exchange.
The rest played a major role between the end of 2025 and the beginning of 2026.
Enflame's debut will also serve to evaluate investors' appetite, after Moore Threads fired 425% in the first stock exchange session, MetaX 693% and Biren 76%.
Last week, Unitree Robotics, the best known Chinese manufacturer of humanoid robots, also made a flashing debut by valuing 460% in the Shanghai STAR market, known as the ‘Chinese Nasdaq’ due to the concentration of technology companies.
Since then, Unitree's shares have lost almost 45% to the maximum reached on their debut day.
Founded in 2018 and headquartered in Shanghai, Enflame will book about 8.6 million shares for strategic investors.
The funds collected will be used in the development and marketing of the semiconductors of the company's fifth and sixth generations, in strengthening supply chains and in improving independent innovation capacity.
The “four small dragons” benefited from Washington’s restrictions on export to China of certain advanced semiconductors from the U.S. Nvidia, in the context of the commercial and technological dispute between the two largest economies in the world.
The US limitations made room in the Chinese market for national processors manufacturers for AI, at a time when Beijing seeks to reduce dependence on foreign technology.
The interest of investors in these companies has also been driven by the Chinese Government's support for the semiconductor sector, which is considered a priority in the country's technology self-sufficiency strategy and in the five-year plan to guide the second largest world economy by 2030.