科创板“1+6”新政推出百日 GPU龙头摩尔线程IPO过会

Group 1 - The successful IPO approval of Moore Threads reflects the Science and Technology Innovation Board's support for "hard technology" and signals a new phase in the deep integration of finance and technological innovation [1] - Moore Threads' IPO process took less than three months, coinciding with the positive effects of the recent "1+6" policy reforms aimed at enhancing the capital market's adaptability to technological innovation [1][2] - The company’s products are applicable in various fields including large model training inference, digital twins, consumer electronics, digital office, and cloud computing, serving key industries such as cloud computing data centers and intelligent computing centers [2] Group 2 - The new policies introduced by the China Securities Regulatory Commission are designed to support hard technology enterprises, particularly those with high R&D investments and growth potential, such as Moore Threads [2] - Moore Threads has achieved significant technological breakthroughs with its self-developed MUSA architecture, enabling a single chip to support AI computing acceleration, graphics rendering, and other advanced functions [2] - The company has shown impressive revenue growth, with a compound annual growth rate exceeding 208.44% from 2022 to 2024, and its revenue for the first half of 2025 already surpassing the total revenue of the previous three years [3] Group 3 - Moore Threads has made significant advancements in GPU technology, with its MTT S80 graphics card's performance nearing that of NVIDIA's RTX 3060, and its MTT S5000 product achieving higher efficiency than comparable foreign GPU clusters [3] - The company's losses have been steadily decreasing, from 1.84 billion yuan in 2022 to 1.49 billion yuan in 2024, with further reduction to 271 million yuan in the first half of 2025, indicating a potential path to profitability by 2027 [3]