Core Viewpoint - Muxi Integrated Circuit (Shanghai) Co., Ltd. has received approval for its IPO registration from the China Securities Regulatory Commission, marking a significant step for the company valued at over 21 billion yuan, with projected revenue growth from 426,400 yuan in 2022 to 743 million yuan in 2024 [1][2] Group 1: Company Overview - Muxi is a leading player in the domestic GPU industry, benefiting from the supportive policies of China's capital market towards hard technology enterprises [1][3] - The company is expected to achieve breakeven by 2026, highlighting the competitive nature of the GPU sector, which requires substantial upfront R&D investments [2][4] Group 2: Market Environment - The domestic GPU market is experiencing rapid growth, with the accelerated computing server market projected to reach approximately 22.1 billion USD in 2024, where GPU servers will dominate with a 69% market share [4] - Muxi's product lines, including the Xisi N series, Xiyun C series, and Xicai G series, target various applications in AI inference, general computing, and graphics rendering [4][5] Group 3: Technological Advancements - Muxi has made significant progress in domestic substitution, with the release of the Xiyun C600 based on proprietary GPU IP, achieving a complete domestic supply chain from design to testing [5] - The company holds 255 domestic patents, including 245 invention patents, reflecting its strong technological foundation [5] Group 4: Financial Aspects - Muxi plans to raise a total of 3.904 billion yuan through its IPO, with funds allocated for the development and industrialization of new high-performance general-purpose GPUs and AI inference GPUs [6] - The company has secured orders amounting to 1.43 billion yuan, nearly double its projected revenue for 2024, providing a solid foundation for future growth [5][6]
意义重大 沐曦股份获科创板IPO注册许可 鼓励国产“芯力量”
Mei Ri Jing Ji Xin Wen·2025-11-13 10:28