Shanghai-based Biren Technology plans to raise approximately $515 million through a Hong Kong stock placement of 130 million shares at HKD 31.08 per share, representing a 10% discount to the previous closing price. The funding will support the GPU developer's artificial intelligence business as part of a broader wave of fundraising among Chinese AI companies backed by Beijing.
S&P Global Ratings predicts China's real estate market will bottom out in Q3 2028, with prices in major cities like Beijing and Shanghai recovering as soon as next year, driven by new government policies including mortgage subsidies and restrictions on unfinished property sales. Supply reduction and corporate deleveraging efforts are stabilizing the market after a yearslong slump that has seen residential prices fall 22% since their 2021 peak.