HK Stock Market Move | BIREN TECH (06082) rises nearly 6%; completed a new round of share placement in October; Goldman Sachs is bullish on the ramp-up of the company's next-generation GPU products.

BIREN TECH (06082) rose nearly 6% in the afternoon, up 5.86% as of press time to HK$23.86, with turnover of HK$331 million. On the news front, Goldman Sachs released a research report stating that BIREN TECH completed a new round of share placement in October, raising net proceeds of HK$4 billion, of which 70% will be used for product commercialization, strategic supply chain procurement and production preparation, and 20% for enhancing R&D capabilities and the software ecosystem. The bank is bullish on the ramp-up of BIREN TECH's next-generation GPU products, its supply management capabilities and customer expansion. The report noted that BIREN TECH is conducting internal testing of the BR200, and upon completion aims to enter customer validation; backed by proactive inventory management (inventory reaching RMB 1.2 billion by end-1H2026, versus RMB 949 million by end-1H2025) and secured capacity commitments, commercialization is expected to accelerate, with customers spanning AI model developers, telecom operators, CSPs and enterprises. The bank expects the company to benefit from growth in China's cloud capital expenditure, volume shipments of next-generation AI chips and further penetration of CSP customers, and expects the capital expenditure of China's leading cloud platforms to grow 105%, 21% and 14% year-on-year in 2026 to 2028, respectively.