募资规模80亿元！摩尔线程上会在即

Core Viewpoint - The company, Moore Threads, is preparing for its IPO on the Sci-Tech Innovation Board, aiming to raise 8 billion yuan to fund various chip development projects and working capital [1][2]. Group 1: IPO Details - The IPO is sponsored by CITIC Securities, with legal and accounting services provided by Jingtian Gongcheng and Ernst & Young Huaming respectively [1]. - The total number of shares to be publicly issued will be between 4,444,760 and 10,007,100, accounting for 10% to 20% of the total share capital post-issue [1]. - The raised funds will be allocated to AI training chips, graphics chips, AISoC chip development, and working capital, with specific allocations of 2.51 billion yuan, 2.50 billion yuan, 1.98 billion yuan, and 1.01 billion yuan respectively [1]. Group 2: Financial Performance - Moore Threads reported revenues of 0.46 million yuan, 1.24 million yuan, and 4.38 million yuan for the years 2022 to 2024, achieving a compound annual growth rate of 208.44% [2]. - In the first half of 2025, the company generated revenue of 7.02 million yuan [2]. - The net losses have been narrowing, with figures of 1.84 billion yuan, 1.67 billion yuan, 1.49 billion yuan, and 271 million yuan from 2022 to the first half of 2025 [2]. - The company anticipates the potential for consolidated profitability by 2027 [2]. - Research and development expenses were significant, amounting to 1.12 billion yuan, 1.33 billion yuan, 1.36 billion yuan, and 557 million yuan over the same period [2]. - The gross margin improved from -70.08% in 2022 to 25.87% in 2023, reaching 70.71% in 2024, and maintaining a high level of 69.14% in the first half of 2025 [2]. Group 3: Shareholder Structure - As of the signing date of the prospectus, Moore Threads had 86 shareholders holding a total of 400 million shares [2]. - Zhang Jianzhong is the actual controller of the company, holding 36.36% of the shares through direct or indirect means as of June 30, 2025 [2]. Group 4: Customer and Supplier Concentration - The company faces high customer and supplier concentration risks, with the top five customers accounting for over 80% of revenue during the reporting periods [3]. - The top five suppliers represented 58.00%, 48.04%, 62.63%, and 52.66% of total procurement amounts in the respective periods [3].