On December 19, 2025, Iluvatar CoreX, a prominent domestic company specializing in general-purpose GPU (Graphics Processing Unit) chips, successfully cleared the listing hearing stage at the Hong Kong Stock Exchange. This achievement means the company is now tantalizingly close to being officially listed on the main board of the Hong Kong Stock Exchange. All that remains are the final steps in the process, including roadshows (where the company presents its investment prospects to potential investors), pricing (determining the initial share price), and issuance (the actual offering of shares to the public).

The joint sponsors for Iluvatar CoreX's listing are Morgan Stanley, CICC (China International Capital Corporation), and CMB International. As a front-runner among domestic general-purpose GPU enterprises in its bid to go public on the Hong Kong Stock Exchange, Iluvatar CoreX's advancement represents a significant expansion of the cohort of domestic computing power chip companies entering the public market. This move not only highlights the growing maturity and competitiveness of China's domestic GPU industry but also underscores the increasing global recognition and appeal of Chinese tech firms in the international capital markets.