At its 25th meeting, the first board of directors of MetaX thoroughly discussed and approved the proposal for the company's initial public offering (IPO) of H shares and subsequent listing on the main board of the Hong Kong Stock Exchange. MetaX intends to issue foreign capital shares, specifically H shares, for an overseas listing, and will apply for a spot on the main board of the Hong Kong Stock Exchange. This strategic move is designed to bolster business development, elevate governance standards and core competitiveness, and propel the company's globalization strategy forward.

Initially, the offering size will not exceed 5% of the total share capital post-issuance (and prior to the exercise of the over-allotment option). Additionally, an over-allotment option is granted, allowing for an increase of up to 15% of the initial offering size. After deducting offering expenses, the funds raised will be allocated to several key areas: the research and development, as well as commercialization, of next-generation general-purpose GPU products; the construction of the MXMACA software ecosystem; investments and mergers and acquisitions within the industrial chain; the establishment of robust marketing and sales systems; and the supplementation of working capital.

MetaX plans to complete the offering and listing at a strategically chosen time within the validity period stipulated by the shareholders' meeting resolution (within 24 months from the date of approval by the shareholders' meeting, or other extended periods as agreed upon by the shareholders). Listed on the Science and Technology Innovation Board on December 17, 2025, MetaX stands out as a domestic enterprise specializing in high-performance general-purpose GPU chips. Its product portfolio spans areas such as intelligent computing inference and integrated training-inference solutions.

In 2025, the company reported revenue of RMB 1.644 billion, marking a significant year-on-year increase of 121.26%. By the end of 2025, the cumulative sales volume of GPU products had surpassed 55,000 units, and these products had been deployed in over 10 intelligent computing clusters. In the first quarter of 2026, the company continued its upward trajectory, reporting revenue of RMB 562 million, up 75.37% year-on-year. Furthermore, its new-generation integrated training-inference GPU, the Xiyun C600, has successfully achieved mass production and sales.