Finance2h ago
Global Market: Tencent-backed Enflame soars 200% in blockbuster Shanghai IPO debut
Tencent-backed Shanghai Enflame Technology surged nearly 200% in its Shanghai debut after raising $912 million through its IPO. Strong investor demand reflects China’s push for domestic AI chips amid US restrictions. Despite rapid revenue growth, Enflame remains loss-making and heavily dependent on Tencent, which accounted for 83.79% of 2025 revenue.
This story was originally reported by Economic Times — Markets. As an automated real-time news aggregator, NewsToolBar provides multi-perspective indexing and AI summarization while directing full readership directly to primary publisher sources.
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Enflame shares surge 200% in Shanghai debut as AI chip frenzy intensifies
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