Group 1: Company Developments - Moer Thread officially listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on December 5, becoming the first fully functional GPU company to enter the A-share market in China. The funds raised will focus on the development of next-generation AI training and inference integrated chips, graphics chips, and AI SoC chips [1][15] - The successful listing of Moer Thread highlights the support and determination from national strategies, policies, and market participants for the development of high-tech and hard-tech enterprises [1][15] Group 2: Industry Trends - The Sci-Tech Innovation Board has a clear hard technology focus, primarily targeting electronic chips, emerging software, new information technology services, biomedicine, and intelligent manufacturing equipment, reflecting the rise of advanced manufacturing in China [2][16] - The semiconductor equipment sales increased by 11% year-on-year in Q3, benefiting front-end equipment companies from the expansion of wafer fabs [5][19] Group 3: Market Performance - The Sci-Tech Innovation Board experienced a rebound over the past week, with sectors such as chips, information technology, biomedicine, and new materials all showing increases [3][17] - The top five industries on the Sci-Tech Innovation Board are electronics, biomedicine, power equipment, computers, and machinery, collectively accounting for 88.8% of the board's total market capitalization [18] Group 4: ETF and Index Performance - The ETF tracking the Sci-Tech Innovation Board saw a net inflow of 3.04 billion yuan in the past week, while there has been a net outflow of 94.03 billion yuan since the beginning of the year [18] - The Sci-Tech Chip ETF Index reflects the performance of representative semiconductor companies on the Sci-Tech Innovation Board, focusing on sectors such as semiconductor materials, chip design, manufacturing, and testing [23][25]

福建板块持续爆发。 12月9日，A股走势分化，创业板指逆势拉升；港股两大股指双双走低，恒生科技指数一度跌超2%。 《中共厦门市委关于制定厦门市国民经济和社会发展第十五个五年规划的建议》提及，加快打造两岸共 同市场。优化涉台营商环境，探索厦台货物自由进出、开放准入的经贸制度，建设两岸标准共通先行城 市。提升厦门自贸片区台商发展服务中心，完善"两岸一窗"一站式政务服务。完善厦台海、空直航运输 体系，打造"厦门—台湾—全球"通道。 消费股拉升 具体来看，沪指盘中窄幅震荡，尾盘加速下探；创业板指逆势拉升，盘中一度涨超1%。截至收盘，沪 指跌0.37%报3909.52点，深证成指跌0.39%，创业板指涨0.61%，北证50指数跌1.72%，沪深北三市合计 成交19179亿元，较此前一日减少逾1300亿元。 全市场超4000股飘绿，有色、煤炭、石油等资源股集体下挫，保险、券商板块回落；福建板块再度活 跃，安记食品（603696）、龙洲股份（002682）、舒华体育（605299）分别收获6连板、5连板、4连 板，此外，厦门港务（000905）、东百集团（600693）、昇兴股份（002752）等实现3连板；CPO概念 再 ...

福建板块持续爆发。 12月9日，A股走势分化，创业板指逆势拉升；港股两大股指双双走低，恒生科技指数一度跌超2%。 具体来看，沪指盘中窄幅震荡，尾盘加速下探；创业板指逆势拉升，盘中一度涨超1%。截至收盘，沪指跌0.37%报3909.52点，深证成指跌0.39%，创业板指涨 0.61%，北证50指数跌1.72%，沪深北三市合计成交19179亿元，较此前一日减少逾1300亿元。 全市场超4000股飘绿，有色、煤炭、石油等资源股集体下挫，保险、券商板块回落；福建板块再度活跃，安记食品、龙洲股份、舒华体育分别收获6连板、5连板、 4连板，此外，厦门港务、东百集团、昇兴股份等实现3连板；CPO概念再度爆发，中际旭创突破600元大关续创新高，全日成交221.8亿元，成交额位居A股首位。值 得注意的是，摩尔线程尾盘快速拉升，大涨近6%。 港股大幅下挫，恒生指数跌逾1%，恒生科技指数一度跌超2%，泡泡玛特、华虹半导体跌超5%，中芯国际跌逾4%。 福建板块强势 福建板块今日再度活跃，多股连续封板，如安记食品斩获6连板，龙洲股份已连续5个交易日涨停，舒华体育斩获4连板，昇兴股份、厦门港务等均连续3个交易日涨 停。 | 代码 名称 ...

摩尔线程（688795.SH）火爆上市，让银行理财子公司也尝到了打新的甜头。 12月5日，"国产GPU第一股"摩尔线程在科创板正式挂牌，开盘大涨468.78%，收盘价较发行价涨幅则达 425.46%。此前的11月底，摩尔线程启动网下发行，宁银理财旗下6只产品成功获配约3.44万股，兴银理 财3只产品获配1.79万股。这意味着理财子公司直接参与新股网下申购的路径进一步明朗。 "打新"步伐加速，权益类理财继续扩容 业内人士表示，在固收收益持续走低的背景下，通过权益市场增厚回报、优化资产配置已成为理财子公 司的长期趋势。 布局"国产GPU第一股" 此次摩尔线程网下发行吸引了267家投资者参与，管理的有效配售对象达到7555个，创2025年以来科创 板新股申购新高。最终定价为114.28元/股，对应发行后市值约537.15亿元，募资总额达80亿元，创下年 内发行价纪录，并成为今年科创板最大规模IPO之一。股票于12月5日上市并纳入科创成长层。 公告显示，在网下配售环节，两家银行理财子公司表现突出。宁银理财6只产品合计中签3.44万股，获 配金额392.9万元，位居银行理财子公司之首；兴银理财3只产品共中签1.79万股 ...

Core Insights - Moer Technology officially listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on December 5, becoming the first domestic GPU stock in China [1] - The company is a high-tech enterprise that has achieved full-function GPU research and production, providing computing acceleration infrastructure and one-stop solutions for various industries [3] Company Overview - Moer Technology focuses on supporting digital transformation across industries with strong AI computing capabilities, applicable in fields such as large model training and inference, digital twins, consumer electronics, industrial design, and geographic information [3] Strategic Partnerships - In the GPU industry, information security is critical for business survival. By 2025, Moer Technology plans to implement DingTalk as its exclusive digital office base to meet strict requirements for organizational management, data transmission security, and internal governance [6] - The collaboration between Moer Technology and DingTalk began with security compliance needs and has evolved into a strategic partnership aimed at enhancing information security and AI innovation applications [6] - DingTalk will continue to play a foundational role in supporting hard-tech companies like Moer Technology to accelerate their global competitiveness [6]

据介绍，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。演讲还将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。 摩尔线程将发布新一代GPU架构。 12月9日，摩尔线程发布消息称，12月19日至20日，摩尔线程首届MUSA开发者大会（MUSA Developer Conference，简称MDC 2025）将在北京中关村国 际创新中心拉开帷幕。 12月5日，"国产GPU第一股"摩尔线程在科创板上市。上市首日，公司股价一度涨超500%，冲高至688元/股，随后回落。截至收盘，摩尔线程当日上涨 425.46%，股价上涨486.22元/股，股价达到600.5元/股。按收盘价估算，一签摩尔线程浮盈约24.31万元。 今日（12月9日），摩尔线程股价一度涨近6%，截至收盘，涨5.73%，最新股价报628.31元/股，总市值超2950亿元。 （文章来源：证券时报） ...

Group 1 - The core point of the article is that Moore Threads, a leading domestic GPU company, officially listed on the Sci-Tech Innovation Board, marking a new phase for the company and contributing to the development of emerging industries in Huishan District [1][3]. - The listing price of Moore Threads was set at 114.28 yuan per share, with the opening price on the first day reaching 650 yuan per share, indicating strong market recognition of the domestic GPU sector and the company's core technology [3]. - Moore Threads has been focusing on autonomous and controllable GPU technology since its establishment in 2020, developing a computing acceleration platform that covers various scenarios such as AI training, graphics rendering, and scientific computing [6]. Group 2 - In February of this year, Moore Threads established a wholly-owned subsidiary in Huishan District to develop the next generation of autonomous AISoC chips and is planning to create an ecological innovation and entrepreneurship park [9]. - In the AI education sector, a collaboration was initiated in June between provincial schools, Moore Threads, and iFLYTEK, showcasing the application of domestic computing power technology in educational settings [11]. - Huishan District plans to deepen cooperation with Moore Threads in five key areas, including building AI infrastructure, promoting AI+ industry solutions, and establishing a talent cultivation base for practical AI skills [11].

Wind数据显示，截至2025年12月9日A股收盘，通信、电子、创业板指领涨市场，涨幅分别为2.23%、0.78%、0.61%。 通信、电子、创业板指 国盛证券评论，所有科技进展仍然指向算力，Gemini3.0PRO跃迁式进展、DeepSeekV3.2进展迅速但指出不管预训练、后训练有更多算力会更进步，字节手 机展现出超级自定义Agent场景，可能其他巨头不会再沉得住气。上述事件，对国内资本支出是好事，全行业支出有望进一步提升，服务器链、AIDC链、算 力服务链是明确利好。 据摩尔线程官微，12月19日至20日，摩尔线程首届MUSA开发者大会将在北京中关村国际创新中心拉开帷幕。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。 天风证券表示，坚定看好算力产业链核心标的的投资机会。其中，海外算力产业链高景气度依旧，相关公司财报持续体现AI相关需求的高景气，相关产业 链的基本面共振更强，持续看好海外算力产业链投资机会。国内方面，后续伴随着国产算力持续发展， ...

Core Viewpoint - Moore Threads is set to unveil its next-generation GPU architecture at the inaugural MUSA Developer Conference on December 19-20, 2023, where the company's full-stack development strategy and future vision will be presented by founder and CEO Zhang Jianzhong [1] Group 1: Company Developments - Moore Threads, known as the "first domestic GPU stock," officially listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on December 5, 2023, opening at 650 CNY per share, a 468.78% increase from the issue price of 114.28 CNY per share, and closing at 600.5 CNY per share [1] - Following the announcement of the upcoming conference, Moore Threads' stock rose by 5.73% to 628.31 CNY per share, with a total market capitalization reaching 295.3 billion CNY, although it remains over 8% below its peak of 688 CNY per share since listing [1] - As of now, Moore Threads has launched four generations of GPU architectures (Sudi, Chunxiao, Quyuan, and Pinghu), covering fields such as AI computing, cloud computing, high-performance computing, and graphics rendering [1] Group 2: Financial Performance - In the first half of 2025, Moore Threads achieved a revenue of 702 million CNY, surpassing the total revenue from 2022 to 2024, but still reported a net loss of 271 million CNY during the same period [2] - As of June 30, 2025, the company has accumulated an unrecouped loss of approximately 1.48 billion CNY and expects to achieve consolidated profitability by 2027 at the earliest [2]

Summary of Key Points Core Viewpoint - The news highlights the issuance of new stocks in the market, detailing the total amount raised by various companies and the distribution of these funds across different sectors and regions. Group 1: New Stock Issuance - Yuan Chuang Co., Ltd. issued 19.6 million shares at a price of 24.75 yuan, raising 485 million yuan [1] - A total of 102 companies have gone public this year, raising a cumulative amount of 120.164 billion yuan, with an average fundraising of 1.178 billion yuan per company [1] - Among these, 28 companies raised over 1 billion yuan, and 1 company raised over 10 billion yuan [1] Group 2: Fundraising by Sector - The Shanghai Stock Exchange saw 21 new stocks issued, raising 41.405 billion yuan; the Shenzhen Stock Exchange had 13 new stocks raising 15.082 billion yuan; the ChiNext Board issued 29 new stocks raising 22.662 billion yuan; the Sci-Tech Innovation Board had 16 new stocks raising 34.310 billion yuan; and the Beijing Stock Exchange issued 23 new stocks raising 6.705 billion yuan [1] - Huadian New Energy is the top fundraiser this year, raising 18.171 billion yuan primarily for wind and solar power projects [2] - C Moer raised 8 billion yuan for the development of AI chips and graphics chips [2] Group 3: Pricing and Regional Distribution - The average initial public offering (IPO) price this year is 23.44 yuan, with 8 companies priced above 50 yuan and 2 above 100 yuan [2] - Jiangsu, Guangdong, and Zhejiang are the top regions for new stock issuances, with 24, 18, and 16 companies respectively [2] - The highest IPO price was for C Moer at 114.28 yuan, while the lowest was for Huadian New Energy at 3.18 yuan [2]