“国产英伟达”IPO过会仅用88天 估值达310亿元

Core Viewpoint - The successful IPO application of Moer Technology, known as "the domestic Nvidia," highlights the growing importance of AI and GPU technology in China's digital economy and the government's supportive policies for innovation in this sector [1][2]. Company Overview - Moer Technology was established in 2020 and focuses on the research, design, and sales of full-function GPUs and related products, aiming to provide computing acceleration platforms for high-performance computing fields such as AI and digital twins [4]. - The company has launched four generations of GPU architecture chips from 2021 to 2024, with products that have achieved performance metrics close to or at international advanced levels [4][5]. Market Context - The global GPU market is projected to reach 3.6 trillion yuan by 2029, with China's GPU market expected to grow from 1.36 trillion yuan in 2024 to 37.8% of the global market share [2]. - The AI chip market in China is anticipated to grow at a compound annual growth rate of over 50%, with GPUs being one of the fastest-growing segments [2]. Financial Performance - In the first half of 2025, Moer Technology achieved a revenue of 702 million yuan, surpassing the total revenue from 2022 to 2024, which was approximately 608 million yuan [7]. - The company has attracted significant investment, with over 10 well-known investment institutions participating, raising more than 10 billion yuan [7]. IPO Details - Moer Technology's IPO application was approved in just 88 days, reflecting the supportive regulatory environment for tech companies [1]. - The company plans to raise 8 billion yuan through its IPO to fund projects related to next-generation AI training and inference chips, graphics chips, and smart SoC chips [9]. Ownership Structure - Moer Technology does not have a single shareholder owning more than 30% of the company, with the founder holding 11.06% directly and controlling 36.36% of the shares through agreements [8].