Market Overview - The A-share market saw a collective rise in the three major indices, with the ChiNext Index increasing by over 1% [2] - The total trading volume in the Shanghai and Shenzhen markets reached 1.02 trillion yuan, a decrease of 987 billion yuan compared to the previous trading day [3] Sector Performance - The technology sector rebounded strongly, with lithium mining and CPO concept stocks leading the gains. The communication equipment, fertilizer and pesticide, and tourism hotel sectors also showed significant increases [3] - Conversely, previously high-performing sectors such as the Hainan Free Trade Zone and commercial aerospace experienced declines [3] Notable Stocks - Lithium mining stocks surged, with companies like Shengxin Lithium Energy, Dazhong Mining, and Jinyuan Co. hitting the daily limit of 10% increase. Other notable performers included Salt Lake Co. and Ganfeng Lithium, which rose by over 4% and 7% respectively [10] - The tourism hotel sector also saw significant gains, with Qujiang Cultural Tourism and Nanjing Commercial Travel both reaching the daily limit of 10% increase [13] New Listings - Muxi Co. debuted with a remarkable increase of 687.79%, making it the most profitable new stock since the full registration system was implemented in A-shares [7][8] Hong Kong Market - The Hang Seng Index and the Hang Seng China Enterprises Index both rose, while the Hang Seng Technology and Hang Seng Biotechnology indices experienced slight declines. Major stocks like Tencent, Alibaba, and Meituan saw increases [4][5] CPO Sector - The CPO sector experienced a significant rise, with stocks like Zhongji Xuchuang and Xinyi Sheng increasing by 3.52% and 6.46% respectively [18][20] Consumer Sector - The commercial retail sector was active, with stocks such as Li Qun Co. and Baida Group reaching the daily limit of 10% increase. The central financial office emphasized the importance of expanding domestic demand as a key task for the upcoming year [16]

12月17日早盘，A股三大指数集体反弹，创业板指领涨。截至午间收盘，上证指数报3831.43点，涨0.17%；深证成指、创业板指分别涨0.83%、1.21%。沪 深北三市半日成交10402亿元。AI主线再度活跃，新易盛、中际旭创成交额均超百亿元，新易盛（300502）半日成交131亿元居所有个股首位。 盘面上，锂电池产业链集体走强，金圆股份（维权）开盘3分钟直线封板，天际股份、盛新锂能等多股涨停；CPO概念震荡反弹，环旭电子涨停，光模块 三巨头集体上涨；零售、乳业板块走强，庄园牧场直线拉升涨停。 沐曦股份单签收益约36万元 刷新年内新股盈利纪录 今日，GPU明星股沐曦股份正式登陆科创板，开盘后一路冲高，盘中一度上涨755%，股价最高触及895元/股，盘中总市值一度超越摩尔线程。截至午间 收盘，沐曦股份上涨687.79%，报824.50元/股，半日成交额92.47亿元，最新总市值3299亿元。 沐曦股份本次发行价104.66元/股。按午间收盘价计算，沐曦股份的单签盈利约36万元，成为年内"最赚钱新股"。 在此之前，今年单签收益最高的新股是12月5日上市的摩尔线程，摩尔线程上市首日上涨425.46%，收盘报600 ...

Core Viewpoint - The collaboration between SenseTime and Muxi signifies a pivotal shift in China's GPU industry from "catching up" to "running alongside," showcasing confidence in domestic alternatives and the potential for growth in AI computing power [1]. Group 1: Financial Performance - SenseTime's revenue from generative AI grew by 103.1% in 2024, reaching 2.4 billion yuan, maintaining a doubling growth trend for two consecutive fiscal years [3]. - The company's strategic focus on high-performance computing is driven by a rigid demand for computing power [3]. Group 2: Strategic Collaboration - SenseTime and Muxi have established a comprehensive partnership that extends beyond product procurement to long-term strategic agreements [5]. - The collaboration aims to create a "computing cluster + industry expansion" model, integrating supply and demand in the GPU market [4]. Group 3: Technological Development - Both companies are engaged in a model of open co-construction and sharing of underlying technologies, focusing on deep adaptation and joint development of product solutions [6]. - They have developed multiple product solutions, including model adaptations and compatibility certifications for domestic chips, enhancing the training and inference capabilities of AI models [6]. Group 4: Ecosystem Development - The partnership has led to the establishment of the "SenseTime Big Device Computing Mall," facilitating effective resource integration and sharing [7]. - This collaboration enhances the diversity and autonomy of computing power supply while reducing construction costs, supporting the ongoing iteration of AI technology and its industrial applications [7]. Group 5: Market Impact - The partnership has significantly improved Muxi's brand influence and market share by gaining recognition in mainstream demand markets through deep collaboration with industry clients [9]. - The ongoing collaboration is expected to explore new paths and models for AI computing infrastructure, potentially leading to a more open and collaborative domestic AI computing ecosystem [9].

Market Overview - A-shares experienced a collective rebound with the ChiNext Index leading the gains, closing at 3,831.43 points, up 0.17% for the Shanghai Composite Index, 0.83% for the Shenzhen Component Index, and 1.21% for the ChiNext Index [2] - The total trading volume for the Shanghai, Shenzhen, and Beijing markets reached 1,040.2 billion yuan [2] AI and GPU Sector - The AI sector saw renewed activity, with stocks like NewEase and Zhongji Xuchuang each exceeding 10 billion yuan in trading volume, with NewEase leading at 13.1 billion yuan [2] - GPU star stock Muxi Co., Ltd. debuted on the Sci-Tech Innovation Board, soaring by 755% at one point, reaching a peak price of 895 yuan per share, and closing at 824.50 yuan, marking a 687.79% increase [5][7] - Muxi Co., Ltd. achieved a market capitalization of 329.9 billion yuan at midday, with a single share profit of approximately 360,000 yuan, making it the most profitable new stock of the year [5][9] Lithium Battery and CPO Concepts - The lithium battery industry chain showed strong performance, with stocks like Jinyuan Co. and Tianji Co. hitting the daily limit [4] - The CPO concept experienced a rebound, with stocks like LianTe Technology rising nearly 15% and reaching a historical high [11] Consumer Sector - The consumer sector remained active, with significant gains in food and beverage, dairy, and tourism, as stocks like Ruipu Food and Zhuangyuan Pasture hit the daily limit [14] - Data from Qunar Travel indicated that hotel bookings in popular cities for the New Year period are expected to triple year-on-year, with Guangzhou, Nanning, and Shanghai being the top cities for bookings [15] Investment Insights - Huatai Securities reported that Chinese optical module companies are likely to maintain a competitive advantage, with significant demand expected for high-speed optical modules in 2026, driven by increased AI computing power investments [13] - Zhongyin Securities highlighted that various segments within the consumer sector, such as medical services and non-white liquor categories, show strong earnings growth and are currently undervalued, presenting investment opportunities [16]

来源：上海证券报·中国证券网 2025年12月17日，沐曦集成电路（上海）股份有限公司（688802.SH，以下简称"沐曦股份"）成功在上 海证券交易所科创板上市。本次发行募集资金人民币41.97亿元，华泰联合证券担任独家保荐人及主承 销商。本项目是近两年长三角地区发行规模最大的IPO项目，也是全面注册制以来自财务数据基准日至 完成首次申报速度最快的IPO项目。 沐曦股份致力于自主研发全栈高性能GPU芯片及计算平台，自成立以来持续深耕GPU和人工智能行业， 始终坚持自主创新，依托一支深刻洞察全球行业发展趋势、拥有高性能GPU顶尖技术及稀缺量产经验的 研发管理团队，完成全栈高性能GPU产品设计开发，积累大量核心技术，并快速实现商业化落地。沐曦 股份的旗舰产品曦云C系列训推一体GPU芯片基于全自研的GPU IP、指令集和架构，在通用性、单卡性 能、集群性能及稳定性、生态兼容与迁移效率等方面均达到国内领先水平，具备较强的综合竞争力；截 至2025年3月末，沐曦股份GPU产品累计销量超过25,000颗，已在多个国家人工智能公共算力平台、运 营商智算平台和商业化智算中心实现规模化应用。（CIS） 来源：上海证券报·中国 ...

沐曦股份上市首日高开568.83%，报700元/股，按开盘价计算，中一签可赚29.77万元。 沐曦股份上市首日高开568.83%，报700元/股，按开盘价计算，中一签可赚29.77万元。 ...

Group 1 - The core viewpoint of the news is that Muxi Co., Ltd., the "second domestic GPU stock," has officially listed on the Sci-Tech Innovation Board, achieving a significant opening increase of 568.83% on its first trading day [1][3]. - On the first day of trading, Muxi's stock price reached 700 yuan per share, resulting in a market capitalization of 280.1 billion yuan [1]. - The company's initial public offering (IPO) price was set at 104.66 yuan per share, leading to a profit of approximately 298,000 yuan for a single subscription of 500 shares [1]. Group 2 - Muxi Co., Ltd. announced that it will be listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on December 17, 2025, and the company has not yet achieved profitability [3]. - The company's revenue figures for the years 2022 to 2024 are reported as 426,400 yuan, 53.0212 million yuan, and 743 million yuan, respectively, indicating a compound annual growth rate (CAGR) of 4,074.52% over the last three years [5]. - For the period from January to September 2025, Muxi's revenue experienced a year-on-year growth of 453.52%, reaching 1.236 billion yuan, with projections indicating that the company may reach breakeven by 2026 [5].

Core Viewpoint - Muxi Integrated Circuit (Shanghai) Co., Ltd. has officially listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board, marking a significant milestone for the company and the domestic GPU industry [1][3]. Company Overview - Muxi Co. is a leading domestic enterprise in high-performance general-purpose GPU products, focusing on the research, design, and sales of GPU chips and computing platforms for AI training and inference, general computing, and graphics rendering [3][4]. - The company has a strong technical foundation and continuous innovation, positioning its products as leaders in versatility, core performance, commercialization, and autonomy in the domestic market [3]. Financial Highlights - The stock price for the IPO was set at 104.66 yuan per share, raising a total of 4.197 billion yuan [3]. - The funds raised will be directed towards projects for new high-performance general-purpose GPU development, next-generation AI inference GPU development, and high-performance GPU technology research for emerging applications [3]. Market Position and Growth - Muxi Co. is one of the few companies in China that has mastered the technology for high-performance GPU chips and their foundational system software, which will help the company expand its market share and enhance its technological reserves [4][6]. - The company has achieved a compound annual growth rate of 4074.52% in revenue over the past three years, with revenue reaching 915 million yuan in the first half of 2025, surpassing the total for 2024 [8]. Technological Advancements - Muxi Co. has developed a series of core technologies with independent intellectual property rights, including GPU IP, GPU SoC, and high-speed interconnects, and has accumulated 245 domestic invention patents [6]. - The company has launched the Xisi N series GPU for intelligent computing inference and the Xiyun C series GPU for integrated training and general computing, with the Xiyun C500 series achieving leading performance levels domestically [7]. Strategic Initiatives - Muxi Co. is constructing a "1+6+X" ecosystem and business layout, focusing on providing high-efficiency and versatile computing power for cloud computing, particularly in sectors such as finance, healthcare, energy, education, transportation, and entertainment [8]. - The company's GPU products have been deployed in multiple national AI public computing platforms and commercial intelligent computing centers, making it one of the few suppliers to achieve large-scale commercial applications of "thousand-card clusters" [8].

亿都(国际控股)(00259)发布公告，沐曦的股份已在上交所科创板上市，且该等股份已于2025年12月17日 开始买卖。首次公开发售的发售价为每股股份人民币104.66元。 于公布日期，集团持有沐曦224.31万股股份，其在集团的综合财务报表中列账为按公允值计入损益之财 务资产。追加内容 亿都(国际控股)(00259)发布公告，沐曦的股份已在上交所科创板上市，且该等股份已于2025年12月17日 开始买卖。首次公开发售的发售价为每股股份人民币104.66元。 本文作者可以追加内容哦 ! ...

Group 1 - The core message is the successful listing of Muxi Co., Ltd., referred to as the "second domestic GPU stock," on the Sci-Tech Innovation Board, following the previous success of Moore Threads [1][3] - Muxi Co., Ltd. is a leading enterprise in the domestic high-performance general-purpose GPU sector, established in September 2020, focusing on the independent research and development of high-performance GPU chips and computing platforms [5] - The company's products are primarily applied in three core areas: artificial intelligence (AI) training and inference, general computing, and graphics rendering [5] Group 2 - Muxi Co., Ltd. reported projected revenues of CNY 0.53 billion in 2023 and CNY 7.43 billion in 2024, with a forecasted revenue of CNY 15.00 billion to CNY 19.80 billion in 2025, representing a year-on-year growth of 101.86% to 166.46% [5] - The company has been focusing on technological innovation and iterative upgrades of GPU products, establishing a unique GPU product system and an open-source software ecosystem [5] - Muxi Co., Ltd. has formed significant partnerships in the AI field, including a collaboration with Wuxi-based Langxin Technology Group to launch the Langxin Jiugong AI Energy Integrated Machine, which utilizes Muxi's high-efficiency computing power [7]