Suiyuan Technology was founded in March 2018, focusing on cloud based AI chips, deeply cultivating DSA architecture, and not following the general path of GPGPU. It has embarked on its own path of AI chip development.

If we follow the trend, we may benefit in the short term, but in the long run, our hands and feet are still constrained. Our entrepreneurial intention is to find our own path for the development of AI chips. ”Zhao Lidong, Chairman of Suiyuan Technology, explained the company's technological philosophy in this way. The DSA architecture deeply optimizes specific algorithms and application scenarios, hardening the core computing, communication, and storage characteristics into hardware, resulting in higher operational efficiency and better cost-effectiveness.

The company has established a parallel R&D system of "pre research generation, R&D generation, and mass production generation". It has independently developed and iterated four generations of architecture, five cloud based AI chips, and built a complete product system covering AI chips, AI acceleration cards and modules, intelligent computing systems and clusters, and AI computing and programming software platforms. The fifth and sixth generation products are already in the research and development or pre research stage.

In terms of commercialization, Suiyuan Technology has established a strategic synergy with Tencent for seven years with the leading Internet manufacturers as the main breakthrough. The product is gradually transitioning from small-scale pilot testing to large-scale deployment in multiple scenarios, completing product refinement and ecological verification in practical applications.

Zhao Lidong revealed in an interview with the Science and Technology Innovation Board Daily that the company's first generation products are still being used for scientific computing in the Qianka cluster of Zhijiang Laboratory. The second-generation product has been shipped in bulk to Tencent, with a cumulative shipment of approximately 30000 pieces. The third generation is currently in mass production, with a cumulative shipment of 160000 pieces; The shipment scale of the upcoming fourth generation will further increase. Starting from the second generation, Tencent has been continuously repurchasing each generation of products, and repurchasing has continuity. Tencent has also put forward clear requirements that the cost-effectiveness of products should be significantly better than similar competitors in the market.

When it comes to the current market situation, Zhao Lidong stated that the domestic AI chip market is rapidly expanding, and domestic supply chain capabilities are being rapidly built. He believed that in the next few years, the domestic supply chain will become more complete, and the technical performance, yield and other indicators will continue to improve. At that time, no matter in terms of scale or progressiveness technology, it will deliver more surprising results.

With the explosion of intelligent agent applications, the demand for inference has shown a rocket like growth, and the current "full blood version" inference model parameter scale has reached tens or even hundreds of billions, with high-end inference chips in short supply.

In terms of performance, in 2023, 2024, and 2025, Suiyuan Technology's operating revenue will be 301 million yuan, 722 million yuan, and 990 million yuan, respectively, with a compound annual growth rate of 81.32%. In the first half of 2026, the operating revenue will reach 1.12 billion yuan, and it is expected that the operating revenue for the first nine months of 2026 will be between 2.3 billion yuan and 3 billion yuan, a year-on-year increase of 325.78% to 455.36%.

The growth path of Suiyuan Technology cannot be separated from the key support of Shanghai State owned Assets. From the first investment in the start-up phase to the final round of financing before the IPO, Shanghai State owned Assets has provided support at every critical juncture.

In June 2018, just three months after its establishment, Suiyuan Technology became one of the earliest investors with an investment of 15.5 million yuan from Shanghai Science and Technology Innovation Group, Jiaxing Zhenge, and Yihe Capital under Shanghai State Investment Corporation.

According to the recollection of the then investment manager of Shanghai Sci Tech Innovation Group, at that time, one of the reasons was to recognize Suiyuan's technological route. Suiyuan Technology adopts a specialized architecture in the DSA field, with instruction sets, operators, and drivers implemented on the underlying full stack self-developed. It actively chooses not to be compatible with the CUDA ecosystem and has embarked on an independent and controllable differentiated development path. Secondly, we acknowledge the founding team composed of two senior executives from AMD. Co founder Zhao Lidong, who previously served as a senior executive at AMD's China R&D center, has practical experience in frontline industries; Another co-founder, Zhang Yalin, has a background in microelectronics at Fudan University. Thirdly, it is a strategic consideration for supply chain security. Around 2018, industrial chain security has become a national strategic concern. Accelerating the layout of domestic substitution is not only a commercial judgment, but also a national strategic requirement. Shanghai Guotou hopes to use capital empowerment to promote the commercialization of domestic chips and improve the supply capacity of local AI computing power.

Afterwards, Shanghai State owned Assets continued to increase their holdings. In 2022, Shanghai International Group led a 2 billion yuan Series D financing round for Suiyuan Technology. In the final round of financing before the IPO of Suiyuan Technology, Shanghai Guotou's IC fund led an investment of over 300 million yuan, which sent a clear signal of confidence to the market through this state-owned investment.

It is worth mentioning that, unlike simple capital injection, the China Investment IC Fund focuses on playing the role of a link in the industrial chain, relying on the resources of the invested industries to assist Suiyuan in connecting with domestic high-quality scarce supply chain production capacity; The advanced process outsourcing, HBM high bandwidth storage, advanced packaging, high-speed interconnection and other projects laid out by the fund have become key upstream supporting facilities for the localization and landing of Suiyuan chips, helping enterprises to connect the entire chain from chip design, manufacturing, packaging and testing to practical applications.

Zhao Lidong specifically reviewed the support process of Shanghai State owned Assets in the interview: "In 2022, when the entire capital market was relatively sluggish, Shanghai International Group led our D-round financing of 2 billion yuan, which boosted confidence throughout the industry and the country. The last round before the IPO was led by Shanghai Guotou, and Shanghai Sci Tech Innovation Group, a subsidiary of Shanghai Guotou, also accompanied the company throughout the early stages. ”

From the early "seeding" of Shanghai Science and Technology Innovation Group, to the "timely assistance" of Shanghai International Group during the downturn, and to the "last-minute step" of Shanghai Guotou before IPO, Shanghai State owned Assets have built a capital support chain covering the entire life cycle of enterprises.