Baidu's Spin-off Plans: Baidu intends to spin off its subsidiary Kunlunxin and list it separately on the Hong Kong Stock Exchange, capitalizing on the current favorable market conditions for GPU suppliers' IPOs.

Market Valuation Insights: Recent valuations for GPU suppliers METAX and BIREN TECH highlight significant market potential, with METAX valued at approximately USD33.2 billion and BIREN TECH at USD11.8 billion.

Kunlunxin's Market Position: Kunlunxin has emerged as a leading player in the AI chip market, ranking third in shipment volumes with 69,000 units, surpassing competitors CAMBRICON and METAX.

Growth Projections for AI Chip Market: The AI chip market in China is projected to grow substantially, from RMB142.5 billion in 2025 to RMB1,336.8 billion by 2029, reflecting a compound annual growth rate (CAGR) of 53.7%.

BIREN TECH Debut Performance: BIREN TECH (06082.HK) debuted at $35.7, marking an 82.1% increase from its listing price of $19.6, and closed at $34.46, up 75.8%.

Trading Volume and Gains: The stock saw a trading volume of 150.7 million shares and a turnover of $5.52 billion, with a book gain of $2,972 per board lot of 200 shares.

Hong Kong Stock Market Performance: The Hong Kong bourse had a strong start to the new year, with the HSI rising 559 points (2.2%) to close at 26,189, driven by the AI chip boom and a new high for CNH since May 2023.

BIREN TECH Debut: Domestic GPU manufacturer BIREN TECH debuted on the Hong Kong stock market, closing at HK$33.8, a 72.4% increase from its listing price of HK$19.6, with a peak of HK$42.88 and a turnover of HK$4.655 billion.

Tech Stocks Rally: Several tech stocks saw significant gains, including HUA HONG SEMI (+9.9%), SMIC (+4.9%), and BIDU-SW (+7.5%), alongside other robotics and major tech companies like TENCENT and BABA-W, which also experienced increases.

Short Selling Activity: The report highlighted notable short selling activities across various stocks, with significant ratios observed in companies like BIDU-SW (33.006%) and NTES-S (28.988%), indicating market volatility and investor sentiment.

Stock Performance: BIREN TECH (06082.HK) debuted at $35.7, marking an 82.1% increase from its listing price of $19.6, and closed midday at $33.88, up 72.9%.

Trading Volume: The stock saw a trading volume of 125.71 million shares and a turnover of $4.65 billion during its debut.