xFusion clears Shenzhen review for 1.2 billion dollar ChiNext listing

Chinese AI server maker xFusion Digital Technologies has cleared the Shenzhen Stock Exchange listing committee review for its planned ChiNext initial public offering, which its May prospectus sized at 8 billion yuan, or 1.2 billion dollars.

Why it matters: The clearance moves a major Chinese maker of computing infrastructure closer to an 8 billion yuan raise, even as the exchange pressed it on whether its gross margin and growth can be sustained as demand for computing capacity shifts.

Data as of Reuters report of November 13, 2026, read in full in its syndicated carrying via WNCY; the underlying Shenzhen Stock Exchange listing committee filing is dated November 12, 2026 and was not read directly in this run. Developing item.

The Shenzhen Stock Exchange listing committee said in a filing dated November 12 that xFusion Digital Technologies met the requirements on share issuance, listing and disclosure, and that there were no further matters for the company to address, Reuters reported. xFusion plans to raise 8 billion yuan (1.2 billion dollars) in the offering on ChiNext, the exchange’s growth board, according to its May prospectus, with CITIC Securities as sponsor.

The committee asked xFusion to explain the trend in its gross margin and whether growth in its operating performance could be sustained, citing changes in demand for computing capacity, capital spending by downstream customers, its technology, net operating cash flow and concentration among customers and suppliers, and whether the related risks had been adequately disclosed. xFusion makes computing infrastructure, including AI servers, according to the prospectus.

xFusion clears Shenzhen review for 1.2 billion dollar ChiNext listing

Sources