<IPO>Hangzhou's Little Dragon Manycore Tech Applies for HK Listing, Said to Raise US$200M
Manycore Tech, one of Hangzhou&#39;s six little dragons on par with DeepSeek and Game Science, s...
Manycore Tech, one of Hangzhou's six little dragons on par with DeepSeek and Game Science, submitted a main board listing application to the Hong Kong Stock Exchange in mid-February. Its joint sponsors are JPMorgan and CCB International.
Manycore Tech plans to raise US$200 million through the Hong Kong listing, as indicated by market rumors.
According to its preliminary prospectus, for 1-3Q ended September 2024, Manycore Tech recorded revenue of RMB553 million, up 13.8% YoY. During the period, the company's loss reached RMB422 million, which narrowed from a loss of RMB489 million in the same period in 2023.
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