独角兽IPO纷至沓来，A股科技硬实力持续提升

Group 1 - The core objective of the 20th Central Committee's Fourth Plenary Session is to significantly enhance the level of technological self-reliance and self-improvement during the "14th Five-Year Plan" period [1] - The A-share IPO market is experiencing a surge with the emergence of technology unicorns like Moer Technology, Muxi Co., and Yushu Technology, reflecting a transformation in China's economic structure towards hard technology [1][2] - The listing of leading technology companies is expected to not only strengthen their own growth but also boost the entire industry chain, creating a cluster effect [1][3] Group 2 - Muxi Co., established in 2020, focuses on developing and selling full-stack GPU products for AI training and inference, with 255 domestic authorized patents as of March 31, 2025 [2] - Muxi Co. plans to issue up to 40.1 million shares to raise approximately 3.904 billion yuan, with funds directed towards R&D and industrialization of high-performance GPUs [2][3] - The GPU industry is characterized by high technical barriers and intensive R&D investment, and Muxi Co. aims to solidify its market position and enhance its R&D capabilities through the IPO [3] Group 3 - The 20th Central Committee emphasizes accelerating high-level technological self-reliance and leading the development of new productive forces, focusing on original innovation and key core technology breakthroughs [4] - Since September 2024, the A-share market has shown a stable upward trend, with government meetings highlighting the need to maintain and enhance the attractiveness of the domestic capital market [5] - The China Securities Regulatory Commission (CSRC) is committed to supporting innovation and facilitating the growth of quality enterprises through reforms in the capital market [5][6] Group 4 - The current IPO wave of technology stocks is supported by favorable policies, enhancing the capital market's inclusivity towards hard technology companies [6] - The transformation of innovation potential into economic momentum is a significant characteristic of the current bull market, with technology innovation companies benefiting from economic transition and policy support [6]