On Jan 2, 2026, $BIREN TECH(06082.HK) debuted on HKEX, with the IPO priced at the top end at HK$19.60. The stock opened up 82.14%; intraday mkt cap briefly topped HK$100bn, and it closed at about HK$82.5bn.

The retail tranche was oversubscribed 2,347x, highlighting a strong retail bid. Sentiment was buoyed by its scarcity as the first GPU company listed in Hong Kong.

The 'domestic $NVIDIA(NVDA.US)' label further stoked buying as investors chased a China Nvidia proxy. But setting aside the aura...