Biren jumps 82% on Hong Kong debut, raises $717 million; Kunlunxin filed January 1

Shanghai Biren Technology surged 82% in its Hong Kong debut, closing at HK$34.46 after pricing at HK$19.60 and raising $717 million, with retail orders subscribed more than 2,300 times. On January 1, Baidu's AI chip unit Kunlunxin confidentially filed for a Hong Kong IPO following fundraising that valued the unit at 21 billion yuan.