[News] China’s GPU Firm Lisuan Tech Averts Bankruptcy with USD 46 Billion Financing from Dosilicon and Others

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China’s GPU company Lisuan Technology, based in Shanghai, has averted the crisis of bankruptcy, as it secures around 328 million yuan (nearly USD 46 billion) in financing from domestic NAND/ DRAM manufacturer Dosilicon and others, according to a report by Chinese media outlet Sina.

On August 20^th, Dosilicon made an announcement, stating that it plans to invest 200 million yuan of its own funds to increase the stake in Lisuan Tech. By subscribing to an additional 5 million yuan of Lisuan’s newly registered capital, the memory company will hold approximately 37.88% of Lisuan’s equity.

On the other hand, the report notes that other investors plan to inject a total of 128 million yuan to Lisuan, subscribing to a total of 3.2 million yuan in its newly added registered capital. In total, Lisuan Tech has received 328 million yuan in financing from Dosilicon and others.

Regarding the reasons behind the investment, the report indicates that there is a certain level of synergy between Dosilicon and its target company, Lisuan Tech. As Dosilicon has already established a portfolio of both standard and niche DRAM products, its R&D team can further engage in technical collaboration with the graphics rendering chip design team at Lisuan to enhance the design capabilities of both parties.

The report, citing public information, states that Lisuan Tech, with 20 years of experience in GPU development and design, is one of the few domestic companies in China capable of providing customized high-performance GPU solutions.

The firm’s first 6nm GPU, based on its self-developed ‘Pangu’ architecture, is ready for tape-out, the report suggests. The product even boasts to offer performance on par with NVIDIA’s high-end graphics cards.

However, due to delays in securing financing, the company has fallen into difficulties, with rumors circulating that it was facing bankruptcy.

According to the data cited by the report, in 2023, Lisuan had no revenue and a net loss of 145 million yuan. In the first half of 2024, it reported no revenue and a net loss of 97.9 million yuan. The bulk of the losses was said to stem from R&D investments.

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(Photo credit: Lisuan Tech)