Tencent-backed Enflame soared 206% in its Shanghai STAR Market debut.
Why it matters: The listing is a fresh test of appetite for Chinese AI chip companies and the broader IPO market. It also shows investor demand remains strong even as the sector faces tighter U.S. export controls.
- Shanghai Enflame Technology Co. debuted on the Shanghai STAR Market on Sept. 11, 2026.
- The AI chipmaker raised 6.12 billion yuan, or about US$912 million, in its IPO.
- Its shares jumped 206% on the first trading day.
- Reuters said online subscription orders reached 6,109 times the shares available.
Shanghai Enflame Technology Co. surged in its Shanghai STAR Market debut on Sept. 11, 2026, after raising 6.12 billion yuan, or about US$912 million, in its IPO, according to Reuters.
The company set its IPO price at 142.18 yuan a share and was valued at about 61.2 billion yuan, Reuters reported. It also said subscription for the offering opened on Sept. 2, 2026.
Reuters reported that online demand for the deal was unusually strong, with investor orders for the online tranche 6,109 times the shares available. The stock then opened sharply above its IPO price on its first day of trading.
CNBC reported that the shares gained 206% on the first trading day.
By the numbers
- 206% - Enflame's first-day share gain in Shanghai.
- 6,109 times - Online subscription orders versus shares available, according to Reuters.
- 6.12 billion yuan - Amount raised in the IPO.
Yes, but: The first-day surge does not guarantee the stock will hold those gains after the debut.