A股大消息，“中国版英伟达”IPO过会

Core Viewpoint - The IPO application of Moore Threads has been approved by the Shanghai Stock Exchange, indicating strong support for domestic GPU innovation and positioning the company as a potential leader in the market [1][3][9]. Company Overview - Moore Threads specializes in the research, design, and sales of full-function GPU products, focusing on high-performance computing areas such as AI, digital twins, and scientific computing since its establishment in 2020 [6][10]. - The company is one of the few domestic GPU manufacturers capable of supporting full computational precision from FP8 to FP64 and has launched four generations of GPU architectures and intelligent SoC products [7][10]. Market Position and Product Line - Moore Threads has developed a comprehensive product matrix covering AI computing, high-performance computing, and graphics rendering, with a full-stack AI product line from cloud to edge [7][10]. - The company has achieved significant technological breakthroughs, including a single-chip architecture that supports AI computing acceleration and graphics rendering [7][10]. Financial Performance - In the first half of 2025, Moore Threads reported revenue of 702 million yuan, with a net loss of 271 million yuan. The revenue has shown a consistent increase from 46 million yuan in 2022 to 438 million yuan in 2024, while losses have gradually narrowed [10][11]. - The company anticipates significant revenue growth from AI computing products starting in 2024, with projected orders in the AI computing sector amounting to approximately 2 billion yuan [10][11]. IPO Details - The IPO aims to raise 8 billion yuan, with funds allocated for the development of next-generation AI chips, graphics chips, and to supplement working capital [6][10]. - The approval process for the IPO took only 88 days, reflecting improved efficiency in the review process for technology innovation companies on the Sci-Tech Innovation Board [9]. Leadership and Shareholding - The founder and CEO, Zhang Jianzhong, holds 11.06% of the company shares and has a significant influence over the company through various holding platforms, controlling a total of 36.36% of the shares [11][12]. - Zhang has extensive experience in the GPU industry, having previously served as NVIDIA's global vice president and general manager for China [12].