摩尔线程顺利过会，“国产GPU第一股”即将诞生

Core Viewpoint - The domestic GPU startup Moore Threads has successfully passed the review by the Shanghai Stock Exchange, marking a significant step towards its goal of becoming the first domestic GPU company to go public on the Sci-Tech Innovation Board [1][5]. Group 1: Company Overview - Moore Threads was founded in 2020 and focuses on the design of fully functional GPU chips [3]. - The founder, Zhang Jianzhong, previously worked at NVIDIA for 14 years, where he significantly increased NVIDIA's market share in China from less than 50% in 2008 to over 80% by 2020 [3]. Group 2: IPO Details - Moore Threads' IPO application was accepted on June 30, 2025, and it completed two rounds of inquiries before passing the review in less than three months [1][2]. - The company plans to raise 8 billion yuan through its IPO, which is the largest IPO currently under review on the Sci-Tech Innovation Board this year [1][2]. Group 3: Investment and Valuation - Prior to the IPO application, Moore Threads had backing from numerous well-known investment institutions, raising over 10 billion yuan in total [4]. - The last round of financing valued Moore Threads at approximately 29.845 billion yuan, with a reported valuation of 31 billion yuan in the Hurun Research Institute's 2025 Global Unicorn List [4]. - The company does not have a single shareholder owning more than 30% of its shares, with Zhang Jianzhong holding 11.06% directly and controlling a total of 36.36% through agreements and employee stock platforms [4]. Group 4: Market Expectations - There are high expectations for Moore Threads as a domestic GPU startup, with other GPU startups like Muxi, Suiruan Technology, and Birun Technology also pursuing IPOs [5]. - The approval of Moore Threads' listing has led to a rise in stock prices for companies that have invested in it [5].