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On June 15, 2026, the Listing Review Committee of the Shanghai Stock Exchange will hold its 37th deliberative session, with the primary agenda being the review of the Initial Public Offering (IPO) application submitted by Shanghai Enflame Technology Co., Ltd. for listing on the Science and Technology Innovation Board (also known as the STAR Market). Enflame Technology is a prominent player in the field of cloud-based AI chip development. To date, the company has successfully iterated through four generations of chip architectures and developed five distinct chips, thereby establishing a comprehensive product ecosystem. Notably, between 2023 and 2025, Enflame Technology witnessed a remarkable surge in revenue. However, it is important to highlight that the company has not yet attained profitability during this period.
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