Chinese enterprise SSD and data center storage maker DapuStor Corporation announced plans to list on the Hong Kong Stock Exchange Main Board through the issuance of H shares. The disclosure was made on August 24 alongside first half 2026 financial results that showed a sharp increase in revenue and a swing to profitability. The listing plan remains preliminary, with offering size and timeline yet to be disclosed.
Proposed H Share Listing
The company said its board formally approved a proposal to publicly issue overseas listed foreign shares, also known as H shares, in Hong Kong. DapuStor described the move as part of a broader effort to deepen its global strategy and take advantage of international capital markets. Specific details of the planned offering, including its size and schedule, have not been finalized and remain subject to further approvals and regulatory filings.
First Half 2026 Financial Performance
For the first six months of 2026, DapuStor reported revenue of RMB4.72 billion, up 531.17 percent from the same period last year. Net profit attributable to shareholders reached RMB1.33 billion, compared with a net loss of RMB353.8 million a year earlier. The company said the strong revenue performance was mainly driven by expanded sales scale and increased demand.
AI Driven Demand and Data Center Context
DapuStor develops enterprise PCIe solid state drives and related storage products for data center workloads in the artificial intelligence era. The company said rising demand from AI inference scenarios, including KV Cache and retrieval augmented generation, is tightening supply for enterprise PCIe SSDs. It is one of the few domestic providers with full stack capabilities spanning SSD controllers, firmware algorithms, and module production at commercial scale.
Research and Product Milestones
Research and development spending during the first half increased by 34.15 percent to RMB178 million as the company continued to target AI training and inference requirements. DapuStor said its 122TB capacity QLC SSD has achieved commercial deployment, while a 245TB product has been launched and is now being tested by customers. Development of PCIe 6.0 generation enterprise SSD controllers and related products is also progressing according to the company's investment plan.
Global Capital and Expansion Strategy
The proposed Hong Kong listing is intended to support DapuStor's global strategy by creating a diversified capital operations platform. Management expects the move to strengthen the company's capital base and accelerate the development of its overseas business. The company also aims to improve its domestic and international business balance while consolidating its position in the enterprise storage industry.
Market Implications for Enterprise Storage
DapuStor's rapid financial turnaround highlights the growing importance of high capacity enterprise storage in data center infrastructure. As artificial intelligence adoption accelerates, demand for PCIe SSDs that can handle intensive training and inference workloads is expected to remain strong. A potential Hong Kong listing would give international investors direct exposure to this domestic storage technology segment.
DapuStor's announcement signals both accelerating commercial momentum and a clear ambition to expand its global investor base. The company has shifted from a loss making position to strong profitability within a year, supported by robust AI driven storage demand. Although the H share offering remains at an early stage, its development will be closely watched by investors tracking China's advanced semiconductor and data center storage sector.