Core Viewpoint - Muxi Integrated Circuit (Shanghai) Co., Ltd. has submitted its IPO application to the Shanghai Stock Exchange's Sci-Tech Innovation Board, aiming to raise approximately 3.9 billion yuan by issuing no more than 40.1 million shares [1][3] Company Overview - Muxi was established in September 2020, focusing on the research, design, and sales of full-stack GPU products for artificial intelligence training, inference, general computing, and graphics rendering [5] - The company claims to be one of the few domestic suppliers to achieve large-scale commercial applications of GPU clusters, currently supporting models like the 128B MoE for full pre-training [5] Financial Performance - Muxi has not yet achieved profitability, with net losses of 777 million yuan, 871 million yuan, and 1.4 billion yuan for the years 2022, 2023, and 2024 respectively [7][10] - Revenue has shown rapid growth, with figures of 426,400 yuan, 53.02 million yuan, 743 million yuan, and 320 million yuan for the years 2022, 2023, 2024, and Q1 2025 respectively [10] - The company has a negative cash flow, with net cash flows from operating activities of -665 million yuan, -1.017 billion yuan, -2.148 billion yuan, and -531 million yuan for the respective periods [10] Shareholding Structure - The actual controller of the company, Chen Weiliang, holds a combined 22.94% stake through Shanghai Jiaomai and Shanghai Xijie [5] - Notable investors include Chaos Investment led by Ge Weidong, Sequoia China, and Matrix Partners, among others, with total holdings of 44.83% by major shareholders [6][5] Use of Proceeds - The funds raised from the IPO will be allocated to the development and industrialization of new high-performance general-purpose GPUs, next-generation AI inference GPUs, and GPU technology for emerging applications [11]
葛卫东押注!高性能GPU公司拟IPO
Zhong Guo Ji Jin Bao·2025-07-03 05:50