人民财讯1月20日电，据沐曦股份官微消息，近日，教育部哲学社会科学实验室"食品安全与国家战略治 理实验室"揭牌暨合作签约仪式、学术委员会会议在无锡隆重举行。活动现场，沐曦集成电路(上海)股 份有限公司与江南大学签署共建协议，并同步揭牌"江南大学沐曦食品安全与人工智能联合研究中心"。 此次合作中，沐曦将核心算力技术与食品安全、食品分子生物合成场景深度绑定，为实验室提供坚实的 AI算力支撑，以产学研协同模式推动技术成果高效转化，加速AI技术在现实场景的落地应用。此外， 沐曦还将助力实验室交叉学科建设及校级人工智能课程设计等。 ...

Core Viewpoint - The establishment of Muxi Smart (Shanghai) Technology Co., Ltd. marks a significant step in the domestic GPU industry, with a focus on integrated circuit design and sales, indicating a strategic move towards enhancing China's capabilities in high-performance computing and AI applications [1][3]. Company Overview - Muxi Co., Ltd. specializes in the independent research and development of high-performance GPU chips and computing platforms, covering areas such as AI training and inference, general computing, and graphics rendering [3]. - The company aims to provide high-performance GPU chips and related software stack and computing platform solutions, contributing to the development of digital economy [3]. Market Context - The GPU market has traditionally been dominated by foreign manufacturers, but there is significant potential for domestic alternatives, especially in light of geopolitical tensions and the rise of new AI technologies [4]. - Muxi Co., Ltd. is positioned as a leading domestic GPU enterprise, actively investing in product research and technological breakthroughs to break foreign monopolies and increase market share [4]. Technological Advancements - The company has built a core R&D team with global vision and expertise in top-tier GPU technology, focusing on achieving self-sufficiency in the smart computing industry chain [4]. - Muxi has developed capabilities in the research, design, and mass production of high-performance GPU chips and foundational system software, overcoming key technological bottlenecks [4]. Product Offerings - Muxi's product lineup includes the Xisi N series GPU for AI inference, the Xiyun C series GPU for integrated training and general computing, and the upcoming Xicai G series GPU for graphics rendering [5]. - The products are based on self-developed GPU IP and a unified architecture, showcasing significant advantages in versatility, single-card performance, cluster stability, and ecosystem compatibility [5]. Industry Collaboration - The company actively promotes industry collaboration, having completed extensive adaptations with upstream and downstream partners in server systems, operating systems, AI frameworks, and large models [5]. - Muxi provides domestic computing power support for distributed inference of leading large models, facilitating the transition from technological breakthroughs to commercial applications in the "domestic computing power + large model industry" [5].

Group 1 - The core point of the article is the establishment of a new company, Muxi Smart (Shanghai) Technology Co., Ltd., which is fully owned by Muxi Co., Ltd. [1] - The legal representative of the new company is Chen Weiliang [1] - The registered capital of Muxi Smart is 100 million yuan [1] Group 2 - The business scope of Muxi Smart includes integrated circuit design, electronic product sales, integrated circuit chip and product sales, and software sales [1]

Investment Rating - The report indicates a strong enthusiasm for new stock offerings on the Beijing Stock Exchange (BSE), with a sufficient reserve of new stocks available for issuance [2][11]. Core Insights - In 2025, the BSE listed 26 new stocks, raising a total of 7.527 billion yuan, with a significant increase in issuance speed in the second half of the year. The amount of frozen funds for participating in new stock offerings nearly doubled from 451.8 billion yuan at the beginning of the year to 846.1 billion yuan by year-end [2][12]. - The average first-day price increase for newly listed stocks on the BSE remains high, sustaining investor enthusiasm for participating in new stock offerings. The report suggests that to stabilize allocation, investors should consider increasing their cash account size due to rising thresholds for stock acquisition [2][18]. - There are currently 210 new stocks awaiting approval on the BSE, with 28 already having passed the review process [19]. Summary by Sections New Stock Offerings on BSE - The BSE's new stock offerings have seen a significant increase in participation, with the total frozen funds rising dramatically throughout 2025. The report highlights that the minimum threshold for acquiring stocks has increased significantly, making it necessary for investors to allocate more funds to ensure stable allocations [2][12][19]. Recent New Stock Performance - The report tracks the performance of new stocks across various boards, indicating that the average first-day price increase for stocks on the Sci-Tech Innovation Board is 258.09%, while for the Growth Enterprise Market, it is 231.27% [31][38]. - The report also provides insights into the effective bidding account numbers for recent new stocks, showing a robust interest from investors [38]. Recent Market Trends - The report notes that the average return from participating in new stock offerings for A-class accounts with a scale of 200 million yuan is 3.82%, while for B-class accounts, it is 2.89% [25][32]. - The report emphasizes the importance of monitoring the performance of new stocks and suggests that investors should be aware of the potential for high returns, particularly in the current market environment [31][51].

Group 1 - The core viewpoint of the news is that Muxi Co., Ltd. has experienced a decline in stock price and significant changes in financing activities, indicating potential volatility in its market performance [1] - On January 19, Muxi's stock price fell by 1.02%, with a trading volume of 530 million yuan. The financing buy-in amount was 49.73 million yuan, while the financing repayment was 89.36 million yuan, resulting in a net financing outflow of 39.64 million yuan [1] - As of January 19, the total balance of margin trading for Muxi was 969 million yuan, which represents 8.97% of its circulating market value [1] Group 2 - Muxi Co., Ltd. was established on September 14, 2020, and is located in the Pudong New Area of Shanghai. The company specializes in the research, design, and sales of full-stack GPU products for artificial intelligence training and inference, general computing, and graphics rendering [1] - The revenue composition of Muxi's main business includes 97.55% from training and inference GPU boards, 1.25% from intelligent computing inference GPU boards, 0.80% from other sources, 0.32% from training and inference GPU servers, and 0.08% from IP licensing [1] - As of December 17, the number of shareholders of Muxi was 25,100, an increase of 20138.71% compared to the previous period, with an average of 722 circulating shares per person [2] - For the period from January to September 2025, Muxi achieved a revenue of 1.236 billion yuan, representing a year-on-year growth of 453.52%. However, the net profit attributable to the parent company was -34.6 million yuan, showing a year-on-year increase of 55.79% [2]

Core Insights - The "2025 Hurun China AI Companies Top 50" report highlights significant growth in the AI sector, particularly in AI chip companies, with a notable increase in their market values compared to the previous year [1][3]. Company Rankings - Cambricon (寒武纪) ranks first with a company value of 630 billion RMB, a 165% increase from last year [1][8]. - Moore Threads (摩尔线程) is second with a value of 310 billion RMB [1][8]. - Muxi Co., Ltd. (沐曦股份) ranks third with a value of 250 billion RMB [1][8]. - iFlytek (科大讯飞) and Horizon Robotics (地平线) are fourth and fifth, valued at 130 billion RMB and 120 billion RMB, respectively [1][8]. Sector Analysis - The number of AI chip companies on the list has increased to 14, up by 9 from last year, making it the most represented sector [2][11]. - Among the top ten companies, seven are related to AI chips, dominating the rankings [2][11]. Market Comparison - The combined market value of Cambricon, Moore Threads, and Muxi Co., Ltd. is approximately 1.2 trillion RMB, which is only 4% of Nvidia's market value [3][10]. - The average value of companies on the list is 54 billion RMB, which is 2.4 times higher than last year [3][10]. Industry Growth - The report indicates that AI is reshaping the wealth landscape in China, with 9% of the entrepreneurs on the Hurun Rich List involved in AI [3][11]. - Notable wealth increases include Cambricon's chairman, whose wealth grew by nearly 150 billion RMB, placing him in the top 20 of the latest Hurun Rich List [3][11].

Core Insights - Muxi Co., Ltd. identifies government and enterprise clients as one of its main customer segments [2] - The Xisi N100 product, launched in 2022, is the company's first product designed for various traditional AI application scenarios, providing strong inference computing power and video encoding/decoding capabilities [2] - Subsequent products in the Xisi N series, such as Xisi N260 and Xisi N300 (under development), are primarily aimed at cloud-based AI inference scenarios under generative artificial intelligence, featuring powerful mixed-precision computing power and large memory capacity [2] Product Details - The Xisi N100 product is applicable in smart city, smart transportation, smart education, and intelligent video processing sectors [2] - The upcoming Xisi N series products support mainstream deep learning development frameworks and are designed to provide end-to-end acceleration services for content generation applications and large language models [2] - The company commits to timely information disclosure in accordance with relevant regulations to ensure investors' right to know [2]

Core Viewpoint - The company focuses on six key industries for ecological construction and aims to accumulate practical experience in AI application scenarios through collaboration with hardware and software partners [1] Group 1: Industry Focus - The six key industries identified by the company are education and research, finance, transportation, energy, healthcare, and cultural entertainment [1] - The company plans to create benchmark cases and develop replicable application solutions for widespread commercial promotion within these industries [1] Group 2: Strategic Measures - The company will actively empower vertical industry partners through open-source technology and engage in joint research projects and innovation collaborations [1] - A technical team will be deployed to frontline markets to better understand the actual needs of industry clients and quickly develop product solutions to support them [1]

Core Viewpoint - Muxi Co., Ltd. has developed the Xiyun C700 series, which utilizes advanced domestic manufacturing processes and establishes a closed-loop domestic supply chain from design to packaging and testing, ensuring core technology is independently controllable [1] Group 1 - The Xiyun C700 series performance benchmarks against the H100, showing significant improvements in computing power, storage capacity, communication capabilities, and energy efficiency compared to the company's current products [1]

Core Viewpoint - The company aims to become a world-class GPU chip and computing platform provider, positioning itself as a cornerstone of the digital economy [1] Group 1: Company Vision and Strategy - The company adheres to a vision of creating world-class GPU chips and computing platforms, focusing on becoming a foundational element of the digital economy [1] - The sustainable development strategy is guided by "policy leadership, product excellence, customer-centricity, and comprehensive support from corporate culture" [1] - Future plans include a market-oriented approach driven by independent innovation, implementing a "three-step" and "1+6+X" development strategy to enhance market expansion [1] Group 2: Market Position and Brand Development - The company intends to convert product advantages into market leadership, aiming to establish a strong brand reputation [1] - Continuous efforts will be made to elevate the company's industry status and influence [1] Group 3: Industry Ecosystem and Collaboration - The company is committed to promoting technological progress through open collaboration, accelerating the domestic AI industry chain layout [1] - Efforts will be made to foster a positive industry ecosystem [1]