沐曦集成电路IPO,核心关联公司名单

Core Insights - The core player in the domestic high-performance GPU sector, Mu Xi Integrated Circuit (Shanghai) Co., Ltd., is set to undergo IPO review on the Sci-Tech Innovation Board on October 24, 2025 [1] - Established in September 2020, Mu Xi is recognized as a key enterprise in the high-performance general GPU field, alongside peers like Moore Threads and Birun Technology, and is designated as a national-level specialized and innovative "little giant" enterprise [1] Direct Holdings: A-share Core Beneficiaries - Supercom Communication holds the highest stake in Mu Xi at 8%, with a deep business binding; it signed a procurement contract worth 1.488 billion yuan, accounting for over 60% of Mu Xi's revenue during the same period [3] - The joint venture "Sichuan Xunxi Intelligent" launched a GPU integrated machine that secured 850 million yuan in government orders [3] - In the first half of the year, Mu Xi's related business drove a net profit increase of 155.26% year-on-year [3] - Zhongke Lanyun directly holds 0.24% of shares (854,300 shares), with potential collaborative development in edge computing scenarios between audio chip low-power technology and Mu Xi's GPU [3][4] - Chuangzhong Technology directly holds 0.2373% of shares, with audiovisual control systems deeply adapting to Mu Xi's GPU in government command centers and smart medical scenarios [4] - Kehua Data holds 854,300 shares (0.24%), with over 100 million yuan in green data center cooperation projects and a liquid cooling power supply solution achieving a PUE value below 1.15, forming a dual binding of "equity + business" [5] Indirect Holdings: Capital Layout Sharing Dividends - Zhongshan Public indirectly holds 0.57% through its subsidiary Guangfa Xinde, promoting collaboration between Mu Xi's GPU and Zhongshan Hospital, significantly reducing lung nodule identification time to 0.5 seconds [6][7] - Runtu Co., Ltd. indirectly holds 0.47% through Runtu Jinheng Fund, early positioning in the domestic GPU sector to share technology replacement dividends [8] - Youfa Group holds a combined direct and indirect stake of 0.328%, leveraging an industrial fund to amplify investment returns and deeply bind to the domestic computing power sector [9] - GCL-Poly Energy indirectly holds shares through its fund, focusing on "computing power + energy storage" collaborative scenarios to optimize energy storage scheduling efficiency using Mu Xi's computing power [9] - Guomai Culture indirectly participates through the CCTV Integrated Media Fund, promoting the application of Mu Xi's GPU in ultra-high-definition video processing and AI content generation scenarios [9] Industry Chain Collaboration: Non-shareholding but Deeply Bound - SMIC is Mu Xi's largest wafer foundry, with 12nm process mass production and 14nm process validation underway [10] - Tongfu Microelectronics is responsible for the packaging and testing of the Xi Cloud C500 series, achieving a chiplet technology yield of 99.3%, with a projected 60% revenue growth in high-end packaging by 2025 [10] - Huada Jiutian's EDA tools are entering the full domestic upgrade verification for Mu Xi, replacing overseas tools [10] - Highlan's liquid cooling solutions account for over 30% of Mu Xi's orders, with related revenue growing by 200% year-on-year in Q2 2025 [10]