关注A股、港股市场早盘表现。 A股市场今天(12月12日)上午整体窄幅波动，通信和电子两大板块领涨。 个股方面，此前股价连续大涨的摩尔线程上午出现调整，盘中股价跌破800元大关，一度重挫逾19%， 后跌幅有所收窄。 "国产GPU第一股"股价一度重挫逾19% 值得注意的是，此前股价连续大涨的摩尔线程今天上午出现调整，盘中股价跌破800元大关，一度重挫 逾19%，后跌幅有所收窄，截至上午收盘，摩尔线程跌10.95%，报838元/股。 摩尔线程被市场誉为"国产GPU第一股"。公司昨晚发布股票交易风险提示公告称，截至12月11日，公司 收盘价为 941.08 元/股。公司最新为负，市销率为1008.84倍。公司静态市销率显著高于行业水平。 另外，摩尔线程公告表示，公司基于自主研发的MUSA架构，将保持较高研发投入和进行产品迭代。但 与部分国际巨头相比，公司在综合研发实力、核心技术积累、产品客户生态等方面仍存在一定的差距。 公司目前新产品和新架构均处于在研阶段，量产及产生收入仍需一定时间。敬请投资者谨慎决策，理性 对待市场热点概念，注意投资风险。 A股通信和电子两大板块领涨 A股市场今天(12月12日)上午整体窄幅波动 ...

A股市场今天（12月12日）上午整体窄幅波动，通信和电子两大板块领涨。 个股方面，此前股价连续大涨的摩尔线程上午出现调整，盘中股价跌破800元大关，一度重挫逾19%，后跌幅有所收窄。 关注A股、港股市场早盘表现。 "国产GPU第一股"股价一度重挫逾19% A股通信和电子两大板块领涨 A股市场今天（12月12日）上午整体窄幅波动。 | 代码 | 名称 | 现价 | 涨跌 | 涨跌幅 | | --- | --- | --- | --- | --- | | 000001 | 上证指数 | 3871.78 | -1.54 | -0.04% | | 399001 | 深证成指 | 13222.51 | 75.12 | 0.57% | | 899050 | 北证50 | 1459.36 | 16.19 | 1.12% | | 881001 | 万得全A | 6248.80 | 29.42 | 0.47% | | 000688 | 科创50 | 1335.41 | 9.58 | 0.72% | | 399006 | 创业板指 | 3182.68 | 19.01 | 0.60% | 行业板块和赛道方面，若按照申万一级行业划分 ...

A股市场今天（12月12日）上午整体窄幅波动，通信和电子两大板块领涨。 关注A股、港股市场早盘表现。 概念板块方面，可控核聚变、特高压等概念板块领涨。 "国产GPU第一股"股价一度重挫逾19% 个股方面，此前股价连续大涨的摩尔线程上午出现调整，盘中股价跌破800元大关，一度重挫逾19%，后跌幅有所收窄。 A股通信和电子两大板块领涨 A股市场今天（12月12日）上午整体窄幅波动。 | 代码 | 名称 | 现价 | 涨跌 | 涨跌幅 | | --- | --- | --- | --- | --- | | 000001 | 上证指数 | 3871.78 | -1.54 | -0.04% | | 399001 | 深证成指 | 13222.51 | 75.12 | 0.57% | | 899050 | 北证50 | 1459.36 | 16.19 | 1.12% | | 881001 | 万得全A | 6248.80 | 29.42 | 0.47% | | 000688 | 科创20 | 1335.41 | 9.58 | 0.72% | | 399006 | 创业板指 | 3182.68 | 19.01 | 0.60 ...

每经AI快讯，12月12日，摩尔线程股价一度下跌19%。 每经AI快讯，12月12日，摩尔线程股价一度下跌19%。 ...

Core Viewpoint - The stock price of Moore Threads has surged significantly since its IPO, raising concerns about potential short-term volatility and risks for investors, despite no major changes in the company's fundamentals [1][3]. Group 1: Stock Performance - As of December 11, Moore Threads' stock price reached 941.08 CNY per share, with a total market capitalization of 442.3 billion CNY, reflecting a cumulative increase of 723.49% from its initial offering price of 114.28 CNY per share within five trading days [1][3]. - On its first trading day, the stock opened with a remarkable increase of 468.78%, peaking at 688 CNY per share, and closing at 600.50 CNY, marking a single-day rise of 425.46% [2]. - The stock's trading volume was exceptionally high, with a turnover rate of 85.49% on the first day, indicating strong market interest in the stock [2]. Group 2: Market Sentiment and Demand - The overwhelming demand for Moore Threads is attributed to the surge in AI computing power needs and the acceleration of domestic alternatives, reflecting a broader market interest in China's self-sufficiency in computing power [2]. - The company experienced a low subscription rate during its IPO, with only 0.0364% of applicants successfully obtaining shares, highlighting the intense competition among investors [2]. Group 3: Upcoming Events - Moore Threads is set to hold its first MUSA Developer Conference on December 19-20, where the CEO will outline the company's full-stack development strategy and unveil a new GPU architecture [3]. - The company anticipates that this event will not have a significant short-term impact on its operational performance [3]. Group 4: Financial Performance and Risks - For the first nine months of 2025, Moore Threads reported revenues of 785 million CNY and a net loss of 724 million CNY, with projections indicating a continued loss for the year [5]. - The company has emphasized the risks associated with ongoing losses due to high R&D expenditures necessary for maintaining technological advancement, which may delay profitability [5][6]. - Moore Threads has set a long-term goal to achieve profitability by 2027, with projected revenues of 5.983 billion CNY and a gross margin of 61%, although it currently faces significant challenges compared to industry peers [6].

and momment 【富街保險 201 III IS F HD 1 the 【发包行 P HITE 博网保障 HE SASSASS IT i : 201 F 7 15 1 i E THE at of review with Householder has been allers 上市式 " | | | | | | | the state 有着"中国版英伟达"之称的摩尔线程，12月5日以114.28元发行上市，发行时的市值约为537亿元。12月11日，摩尔线程创出了941.08/股的历史新高，按照此 价格计算，摩尔线程的股价已经较发行价高了7倍以上的价格水平。 12月11日，摩尔线程的最高市值非常接近4500亿元人民币，上市五天时间大涨超过7倍，打破了近年来A股市场的炒作纪录。虽然目前摩尔线程的总市值距 离寒武纪只有1200亿元的市值差距，但两家AI巨头公司之间的市值差距正在迅速缩小。 摩尔线程上市五天大涨超过7倍，远远超出了市场预期的市值水平。那么，摩尔线程到底值多少钱？ 谈及摩尔线程，市场往往会将摩尔线程与寒武纪进行对比。从上市前后的估值变化分析，两家AI巨头有一些共同的特征。 例如，寒武纪在Pre-I ...

12月11日，早盘指数走势分化，逾股3200飘红，半日成交1.2万亿，较昨日放量799.6亿。截至午间收 盘，上证指数跌0.04%，深证成指涨0.57%，创业板指涨0.6%。 盘面上，贵金属反复走强，晓程科技领涨，中金黄金、西部黄金、山金国际等跟涨；电网设备走高，风 范股份、长城电工涨停；商业航天概念活跃，华菱线缆、中超控股2连板，东方通信、长城电工涨停； 可控核聚变概念拉升，雪人集团2连板，国机重装、中国一重此前涨停。 值得注意的是，摩尔线程出现回调，股价一度回落至800元下方。 消息面上，公司昨日发布股票交易风险提示公告，公告列明了业绩亏损风险：2025年1-9月，公司营业 收入为7.85亿元，归属于母公司所有者的净利润为-7.24亿元。公司预计2025年归属于母公司股东的净利 润为-11.68亿元至-7.30亿元。 下跌方面，零售、海南自贸区等板块回调。 展望后市，招商证券认为，中央经济工作会议整体延续相对积极的表态。从过往市场表现经验来看，会 后7天大盘风格往往相对占优。 热门板块 1、贵金属反复走强 贵金属反复走强，晓程科技领涨，中金黄金、西部黄金、山金国际等跟涨。 点评：消息面上，美联储12月10 ...

Core Viewpoint - The stock price of Moer Thread, known as the "first domestic GPU stock," experienced significant volatility, dropping nearly 20% in early trading on December 12, 2023, but has attracted market attention due to its strong performance since listing [1]. Group 1: Moer Thread's Stock Performance - As of December 12, 2023, Moer Thread's stock price fell to 820.01 yuan, a decline of 12.87%, with a market capitalization of 385.43 billion yuan [1]. - On December 11, 2023, the stock price reached 941.08 yuan, marking a 28.04% increase, with a market value approaching 450 billion yuan [1]. - The stock's fluctuations are expected to significantly impact the performance of Century Huatong, which holds shares in Moer Thread [2]. Group 2: Century Huatong's Investment in Moer Thread - Century Huatong's subsidiary holds a 7.3121% stake in a private equity fund that owns approximately 1,958,870 shares of Moer Thread, representing about 4.9% of the total shares before the IPO [3]. - The investment in Moer Thread is classified as a financial instrument measured at fair value, impacting Century Huatong's financial statements [3]. - Century Huatong's revenue and profit for the first three quarters of 2025 were the highest among all A-share gaming companies, with revenue of 27.223 billion yuan and a net profit of 4.357 billion yuan, reflecting a year-on-year growth of 141.65% [4]. Group 3: Other Companies Holding Moer Thread Shares - Multiple A-share companies, including Heertai and Yingqu Technology, hold shares in Moer Thread, with respective market values of approximately 3.9 billion yuan and 1.3 billion yuan based on the stock price of 941.08 yuan [1][7]. - Other companies, such as Zhongke Lanyun, also have direct and indirect holdings in Moer Thread, contributing to the growing interest in the stock [7]. - Companies like Donghua Software and Shenghong Technology are engaged in deep business collaborations with Moer Thread, covering various segments of the GPU industry chain [8]. Group 4: Market Trends and Future Outlook - The domestic AI chip market is expected to see a significant increase in localization rates, projected to rise from 30-40% in 2025 to 60-70% by 2030, benefiting companies in the AI chip and computing power supply chain [8]. - Several Moer Thread-related stocks have seen substantial price increases, with companies like Shenghong Technology rising over 600% and Century Huatong doubling in value [8].

Market Overview - A-shares opened mixed with the Shanghai Composite Index down 0.1%, Shenzhen Component Index up 0.21%, and ChiNext Index up 0.29% [1] - As of 10 AM, all three major A-share indices were in the red, with the Shanghai Composite Index down 0.43%, Shenzhen Component Index down 0.18%, and ChiNext Index down 0.39% [1] Stock Performance - The total trading volume of A-shares reached 597.58 billion [1] - Notable stocks included: - Shanghai Composite Index at 3856.76, down 16.56 points (-0.43%), with a year-to-date increase of 15.07% [1] - Shenzhen Component Index at 13124.15, down 23.23 points (-0.18%), with a year-to-date increase of 26.02% [1] - ChiNext Index at 3151.35, down 12.32 points (-0.39%), with a year-to-date increase of 47.15% [1] Company-Specific News - Moer Thread opened down 6.6% and later expanded its decline to 15%, falling below the 800 yuan mark after issuing a risk warning following a significant price increase [2] - The precious metals sector saw a collective rise, with notable gains including: - Pang Cheng Technology up over 8% [3] - Zhongjin Gold, Shanjin International, and other gold-related stocks also showing positive performance [3] Hong Kong Market - The Hang Seng Index opened up 0.9%, the National Enterprises Index up 0.88%, and the Technology Index up 1.02%, with the lithium battery sector also opening higher [4] - A report from China Merchants Securities indicated that historically, the market tends to favor large-cap stocks in the week following major meetings, with higher probabilities of gains in sectors like oil and petrochemicals, telecommunications, and electronics [4]

Group 1: Technology Developments - OpenAI has released the latest version of its AI model, GPT-5.2, which aims to enhance economic value by excelling in tasks such as spreadsheet creation, presentation making, code writing, image recognition, long text understanding, tool usage, and managing complex multi-step projects, outperforming industry professionals in 44 specific knowledge work tasks [2] - DingTalk has launched version 8.1.10, introducing AI-powered features such as AI Q&A and AI dynamic reply suggestions, enhancing user interaction [5] - QQ has implemented an AI summary feature for group chats, allowing users to quickly grasp key messages without scrolling through extensive chat histories [7] Group 2: Corporate Announcements - Elon Musk hinted at a potential IPO for SpaceX, indicating the company's financial health with consistent positive cash flow and regular stock buybacks [4] - JD Group announced the listing of JD Industrial on the Hong Kong Stock Exchange, with shares starting trading at 14.1 HKD [13] - ZTE Corporation's stock fell approximately 2% following news of an investigation related to compliance with the U.S. Foreign Corrupt Practices Act, although the company maintains that its operations are normal [10] Group 3: Strategic Partnerships and Initiatives - Guangdong Province and JD Group have established the first "Modern Rider Academy" in China, focusing on vocational training for delivery personnel, aiming to cover over 100,000 full-time riders in the region within three years [9] - Huawei has announced the beta launch of its HarmonyOS for computers, with the ecosystem expanding from around 2,000 applications to 12,000, indicating significant growth in its application coverage [8] Group 4: Mergers and Acquisitions - Chuangyuan Xinke plans to acquire 100% of Weiyu Tiandao for 886 million CNY, focusing on satellite navigation testing technology [17] - Whirlpool intends to purchase assets related to washing machines from its controlling shareholder, Gree Electric Appliances, to eliminate competition concerns [16] - Blue Shield Optoelectronics has decided to terminate a planned acquisition of shares in Shanghai Star Thinking Semiconductor for 80 million CNY, citing the need to control investments and protect shareholder interests [15]