Core Viewpoint - The announcement by Moer Thread, known as the "first domestic GPU stock," to utilize up to 7.5 billion yuan of idle raised funds for cash management has sparked significant market discussion, raising questions about the necessity of such financing given the company's recent IPO and substantial capital raised [2][3]. Fund Utilization - Moer Thread plans to use a maximum of 7.5 billion yuan of its idle IPO funds for cash management, investing in safe, liquid principal-protected products for a period of 12 months [2][3]. - The company raised approximately 8 billion yuan through its IPO, with a net amount of 7.576 billion yuan after deducting issuance costs [3]. - The initial funding plan included allocations for various R&D projects and working capital, totaling 8 billion yuan [3][4]. R&D Investment - Over the past three years, Moer Thread has invested approximately 4.368 billion yuan in R&D, with projected expenditures of about 1.116 billion yuan in 2022, 1.334 billion yuan in 2023, and 1.359 billion yuan in 2024 [5][6]. - The company has outlined specific R&D projects, including AI training chips and graphics chips, with total planned investments of 2.509 billion yuan, 2.502 billion yuan, and 1.982 billion yuan respectively [4][5]. Market Performance - Following its IPO on December 5, Moer Thread's stock price surged, reaching a peak of 941.08 yuan, making it the third highest in the A-share market with a market capitalization exceeding 440 billion yuan [7][8]. - The stock experienced a significant drop of 6.13% on December 15, closing at 764.90 yuan, reflecting a nearly 20% decline from its peak [2][10]. - The static price-to-sales ratio of Moer Thread is reported to be over 820 times, which is exceptionally high compared to other semiconductor stocks [10]. Financial Performance - Moer Thread has recorded continuous losses, with net profits of -1.894 billion yuan in 2022, -1.703 billion yuan in 2023, and projected losses of -1.618 billion yuan in 2024 [9]. - The company reported total revenues of approximately 1.31 billion yuan from 2022 to mid-2025, with a significant increase in revenue to 702 million yuan in the first half of 2025 [9][10].

1000平米科技嘉年华：沉浸体验，看见创新现场 MDC 2025不仅是摩尔线程MUSA技术体系与全栈能力的集中呈现，更致力于打造一个连接技术创新、 开发者共创与产业应用的战略平台。大会将围绕MUSA统一系统架构，全面展示从硬件到软件、从技术 到场景的全栈能力与生态进展，加速推动国产全功能GPU技术扎根千行百业，筑牢智能时代的坚实算力 底座。 主论坛：揭晓新一代GPU架构与路线图 据悉，本次大会主论坛将聚焦驱动千行百业数智化转型的核心引擎——智能算力。摩尔线程创始人、董 事长兼CEO张建中将首次系统阐述以MUSA为核心的全栈发展战略与未来愿景，并重磅发布新一代GPU 架构、推出涵盖产品体系、核心技术及行业解决方案的完整布局，分享多领域落地案例与生态建设进 展，并深入分享摩尔线程在AI计算、图形渲染、科学计算及多场景融合中的落地实践、生态进展与前 瞻思考。 20+技术专场：前沿探索，赋能生态成长 大会设立超过20场技术分论坛，议题覆盖智能计算、图形计算、科学计算、AI基础设施（AI Infra）、 端侧智能、具身智能、开发者工具与平台等关键领域，推动前沿技术与产业实践的深度融合，全方位赋 能开发者与合作伙伴。同时 ...

科创50指数今日下跌2.22%，报收1318.91点，科创板全日成交量37.45亿股，成交额1907.83亿元，加权 平均换手率为1.94%。 分行业看，今日换手率超5%的个股中，所属电子行业个股最多，有21只个股上榜；国防军工、电力设 备等紧随其后，分别有12只、9只个股上榜。 资金流向方面，高换手率个股中，有33股今日获主力资金净流入，净流入金额较多的有臻镭科技、星环 科技、信科移动，净流入金额分别为2.19亿元、1.96亿元、1.18亿元，净流出金额较多的有摩尔线程、 源杰科技、佰维存储，净流出金额分别为7.22亿元、3.04亿元、2.46亿元。 从杠杆资金动向看，高换手个股中，共44股近期获杠杆资金净买入，统计显示，截至12月12日，近5日 融资余额增加较多的有臻镭科技、长光华芯、仕佳光子等，分别增加2.18亿元、2.13亿元、1.77亿元； 融资余额减少金额较多的有摩尔线程、佰维存储、华丰科技等，分别减少3.63亿元、9262.56万元、 7606.01万元。 12月15日科创板换手率居前个股 | 代码 | 简称 | 最新收盘价 | 日涨跌幅（%） | 日换手率（%） | 资金净流入（万元） | | ...

Core Insights - The average stock price on the STAR Market is 40.75 yuan, with 71 stocks priced over 100 yuan, and the highest priced stock is Cambrian-U at 1331.90 yuan [2][3] - A total of 172 stocks increased in price while 416 stocks decreased, with the average decline for stocks over 100 yuan being 3.16% [2][3] - The premium of stocks over their issue prices averages 498.01%, with notable premiums for companies like Shunwei New Materials and Cambrian-U [2][3] Stock Performance - Cambrian-U closed at 1331.90 yuan, down 0.90%, followed by Moer Thread-U at 764.90 yuan and SourceJet Technology at 633.00 yuan [2][3] - Among the stocks priced over 100 yuan, 10 stocks saw an increase, with the largest gainers being Zhenray Technology, Haooubo, and Jingfeng Mingyuan [2][3] - The sectors with the highest concentration of stocks over 100 yuan include electronics, pharmaceuticals, and computers, with 38, 9, and 8 stocks respectively [2][3] Capital Flow - The net outflow of main funds from stocks over 100 yuan totaled 4.123 billion yuan, with Zhenray Technology, Zhongwei Company, and Anji Technology seeing the highest net inflows [3] - The total margin balance for stocks over 100 yuan is 95.915 billion yuan, with Cambrian-U, Zhongxin International, and Haiguang Information having the highest margin balances [3] Detailed Stock List - A detailed list of stocks over 100 yuan includes Cambrian-U, Moer Thread-U, and SourceJet Technology, with their respective closing prices and percentage changes [4][5]

以最新收盘价计算，A股平均股价为13.60元，其中股价超过100元的有161只，相比上一个交易日减少6 只。 百元股作为判定市场热度的信号之一，历来受到投资者关注。证券时报·数据宝统计显示，截至12月15 日收盘，沪指报收3867.92点，下跌0.55%，A股平均股价为13.60元，个股股价分布看，股价超过100元 的有161只，股价在50元至100元的有415只，股价在30元至50元的有735只。 股价超百元个股中，收盘价最高的是贵州茅台，今日报收1426.00元，上涨0.38%，其次是寒武纪、摩尔 线程等，最新收盘价分别为1331.90元、764.90元。 市场表现方面，收盘股价超百元股中，今日平均下跌2.39%，跑输沪指1.84个百分点。今日上涨的有32 只，涨幅居前的有臻镭科技、飞沃科技等，下跌的有128只，跌幅居前的有品茗科技、芯原股份等。 追溯发现，最新百元股近一个月平均上涨6.86%，其间沪指下跌3.07%，涨幅居前的有飞沃科技、超捷 股份、德科立等，涨幅分别为135.98%、108.57%、77.99%，今年以来平均涨幅为121.28%，强于沪指 105.88%，累计涨幅居前的有上纬新材、天普 ...

视频丨王学权 12月12日，有着"国产GPU第一股"之称的摩尔线程在科创板发布公告，引起市场关注。 公告称，公司及实施募投项目的子公司计划使用最高不超过75亿元(含本数)的闲置募集资金进行现金管理，投资于协定存款、通知存款、定期存款、结构 性存款等安全性高、流动性好的保本型产品。 公告发布后首个交易日，12月15日，摩尔线程收盘大跌超6%，市值3595亿。值得注意的是，12月12日起摩尔线程两个交易日市值累计蒸发近1000亿。 根据摩尔线程的公告，此次现金管理的资金范围是"闲置募集资金"，投资标的限定于协定存款、通知存款、定期存款、大额存单、收益凭证等保本型产 品。投资产品的期限不超过12个月。 公告现金管理金额与其IPO募集资金规模相近，迅速在投资者群体中引起讨论：一家正处于技术攻坚关键期的硬科技企业，为何将大笔募资用于理财？这 是否意味着研发进程放缓？ 针对外界关切，21世纪经济报道记者向摩尔线程求证。公司相关负责人回应称，75亿元仅为公司董事会审议授权的现金管理额度上限，实际进行现金管理 的金额将明显小于此数，且该额度会随着募投项目的逐步推进而动态调降。公司强调，此举核心目的是在确保资金安全与募投项目正 ...

1只新股今日发行，健信超导发行4192.00万股，发行价18.58元，募资金额7.79亿元。 证券时报·数据宝统计显示，以发行日期为基准，截至12月15日，今年以来共有105家公司首发募资，累 计募资金额达1225.53亿元，单家公司平均募集资金11.67亿元。分区间来看，募资金额超10亿元的有29 家，其中，募资金额超百亿元的有1家，募资金额5亿元至10亿元的有37家，募集资金在5亿元以下的有 39家。 | 301173 | 毓恬冠佳 | 2025.02.20 | 2195.87 | 28.33 | 6.22 | | --- | --- | --- | --- | --- | --- | | 001221 | 悍高集团 | 2025.07.21 | 4001.00 | 15.43 | 6.17 | | 603257 | 中国瑞林 | 2025.03.26 | 3000.00 | 20.52 | 6.16 | | 001390 | 古麒绒材 | 2025.05.19 | 5000.00 | 12.08 | 6.04 | | 301575 | 艾芬达 | 2025.09.01 | 2167.00 | 27.69 ...

Group 1 - The core viewpoint of the articles highlights the fundraising activities of companies listed on the STAR Market, with a total of 17 companies raising 35.089 billion yuan this year, averaging 2.064 billion yuan per company [1][2] - Among the companies, Moer Technology raised the most at 8 billion yuan, primarily for cash management and the development of AI training chips and graphics chips [1] - Other notable fundraisers include Xian Yicai with 4.636 billion yuan for its silicon industry base project, and Muxi Co., Ltd. with 4.197 billion yuan [1] Group 2 - The average initial offering price for STAR Market stocks this year is 36.56 yuan, with four companies priced above 50 yuan, and two exceeding 100 yuan, the highest being Moer Technology at 114.28 yuan [2] - The issued price-earnings ratio ranges from 6.14 to 519.12, with an average of 83.91 and a median of 42.64, where C Bai Ao has the highest ratio at 519.12 [2] - Geographically, the majority of the issued companies are concentrated in Beijing, Hubei, and Guangdong, with fundraising amounts led by Beijing at 14.692 billion yuan [2]

格隆汇12月15日丨晓程科技(300139.SZ)在投资者互动平台表示，本公司目前与摩尔线程尚未有业务合 作。 ...

格隆汇12月15日丨晓程科技(300139.SZ)在投资者互动平台表示，本公司目前与摩尔线程尚未有业务合 作。 ...