国产GPU厂商沐曦即将上市，拟募资 39.04 亿元

Core Insights - The Shanghai Stock Exchange will hold a listing review meeting for Muxi Integrated Circuit (Shanghai) Co., Ltd. on October 24, 2025, for its initial public offering [1] - Muxi Integrated Circuit was established in September 2020 and focuses on developing a full-stack GPU chip product line, including the Xisi N series for intelligent computing, the Xiyun C series for general computing, and the Xicai G series for graphics rendering [1] Product Development - The Xiyun C series is the company's flagship product aimed at intelligent computing and general computing, with the C500 model designed to compete with NVIDIA's A100 GPU [3] - The C600 model, based on advanced domestic processes, was initiated in February 2024 and is expected to enter risk production by the end of 2025 after successful functionality tests [3] - The next-generation flagship product, C700, was initiated in April 2025 and is currently in the design and development phase, with significant progress in core design and performance optimization [3] Financial Information - Muxi submitted its IPO application on June 30, 2023, aiming to issue up to 40.10 million A shares to raise approximately 3.904 billion yuan [5] - The funds will be allocated to three main projects: high-performance general GPU R&D, next-generation AI inference GPU R&D, and GPU technology R&D for emerging applications [5] - Financial results show revenues of 426,400 yuan in 2022, 53.02 million yuan in 2023, 740 million yuan in Q1 2024, and 320 million yuan in Q1 2025, with net losses of 780 million yuan, 870 million yuan, 1.4 billion yuan, and 230 million yuan respectively [5]