Enflame Technology will open online subscriptions for its Shanghai Stock Exchange STAR Market listing on September 2 under stock code 688801 and subscription code 787801. The company plans to issue about 43.04 million shares, representing 10% of its enlarged share capital, and raise 6 billion yuan. The proceeds will fund research and development for fifth- and sixth-generation AI chips and artificial intelligence software-hardware collaboration projects. Enflame Technology is grouped with Moore Threads, Muxi and Biren Technology as one of China’s “four little dragons” in domestic GPUs. The report said the other three companies have already listed, with first-day closing gains of 425.46%, 692.95% and 75.82%, respectively. Enflame Technology reported revenue of 301 million yuan in 2023, 722 million yuan in 2024 and 990 million yuan in 2025, for a three-year compound growth rate of 81.32%.