SiliconFlow’s Hong Kong IPO filing accepted for CSRC record

According to an IT Home report on October 30, 2026, SiliconFlow's application to list on the Hong Kong Stock Exchange has received filing acceptance from the China Securities Regulatory Commission. The report, citing data from Frost & Sullivan, describes the company as China's largest independent token supplier, with over 10 million registered users and more than 13,000 enterprise customers. Measured by annual token throughput in 2025, SiliconFlow ranked fourth in China's overall token supply market with a share of roughly 1.5%. Founded in 2023, the company positions itself as an independent token supply platform: it does not build large models of its own and does not sell compute directly. Instead, it pools heterogeneous chips from vendors such as Nvidia, Huawei Ascend, Muxi and Moore Threads, schedules them through its proprietary inference engine, runs mainstream models such as DeepSeek, Qwen and Kimi on that pooled capacity, and serves customers on a per-token basis. As of June 2026, the platform supported more than 170 AI models across over 10 chip types. The company came into public view during the 2025 Spring Festival period after launching inference services for DeepSeek built on Huawei Ascend, with its performance and pricing described as comparable to top international GPU solutions. Moore Threads and Muxi were added to its compatibility list afterwards, and the company has accumulated a number of deployments among state-owned enterprises and central government-affiliated customers. As the materials stand, the matter has progressed to the point where the Hong Kong listing application has been accepted for filing by the regulator, and no further steps have been reported.