Chuan Alibaba Pingtouge plans to go public in Hong Kong in 2027, raising at least 2 billion USD

According to a report by Sina Technology citing foreign media, Alibaba's semiconductor subsidiary Tmall Genie plans to go public in Hong Kong in 2027, aiming to raise at least 2 to 3 billion USD (approximately 15.6 to 23.4 billion HKD). As of the time of publication, Alibaba has not responded officially.

Tmall Genie was established in 2018, formed by the integration of Zhongtian Micro Systems acquired by Alibaba and the chip team from DAMO Academy. Its product line includes Xuantie processors, Yitian server chips, Hanguang AI chips, and PPU chips, among others. Alibaba CEO Wu Yongming previously disclosed in a financial report conference call that Tmall Genie has achieved commercialization, with chip shipments exceeding 470,000 units and annual revenue surpassing the 10 billion level.