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Enflame's Shanghai Debut Popped 179%. The Same Nine-Month Lockup Clock Just Crashed Moore Threads 20%.
22 Sep 2026
Semiconductors & Hardware

Enflame tripled off its offer price on a blockbuster Shanghai debut, but Tencent supplied 84% of its 2025 revenue, and the lockup deadline that just cost Moore Threads a fifth of its value is already on Enflame's own calendar.

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