估值超210亿元，明星股东“云集”！知名芯片公司冲刺IPO上会

Core Viewpoint - A well-known semiconductor company, Muxi Integrated Circuit (Shanghai) Co., Ltd., is set to undergo an IPO review by the Shanghai Stock Exchange on October 24, 2025, marking a significant step in its public offering process [1]. Company Overview - Muxi Integrated Circuit was established in September 2020 in Shanghai and has set up wholly-owned subsidiaries and R&D centers in several cities including Beijing, Nanjing, Chengdu, Hangzhou, Shenzhen, Wuhan, and Changsha [3]. - The core team of the company possesses nearly 20 years of end-to-end R&D experience in high-performance GPU products [3]. - The company focuses on providing full-stack GPU chips and solutions for heterogeneous computing, applicable in advanced fields such as intelligent computing, smart cities, cloud computing, autonomous driving, digital twins, and the metaverse [3]. Financial Information - According to the company's prospectus, the latest external equity financing corresponds to a post-investment valuation of 21.071 billion yuan [4]. - Muxi Integrated Circuit plans to issue no more than 40.1 million A-shares, aiming to raise 3.904 billion yuan. Of this, 2.459 billion yuan will be allocated for the R&D and industrialization of new high-performance general-purpose GPUs, 453 million yuan for the R&D and industrialization of next-generation AI inference GPUs, and 991 million yuan for R&D of high-performance GPU technologies targeting advanced fields and emerging application scenarios [4]. - In 2024, the company's revenue is projected to be 743 million yuan, with a loss of 1.409 billion yuan. The primary revenue source is expected to be from the sales of the Xiyun C500 series training and inference integrated chip [4]. Shareholding Structure - As of the signing date of the prospectus, the founder Chen Weiliang controls 22.94% of the voting rights, making him the actual controller of the company [4]. - The shareholder list includes prominent investors such as private equity mogul Ge Weidong and his Chaos Investment, as well as Jingwei Venture Capital, Helix Capital, and Sequoia Capital [4]. Related Companies - Zhongshan Public Utilities (000685) announced an early investment in Muxi Integrated Circuit through its new energy fund, indicating that the IPO could positively impact the company and validate its strategic foresight in industry investments [5]. - Runtou Co., Ltd. (002440) holds a 44% stake in Wuxi Tongchuang Zhixin Venture Capital Partnership, which has invested 100 million yuan in Muxi Integrated Circuit prior to its IPO, holding 170,850 shares, representing a 0.47% stake [6].