“中国版英伟达”，新股申购日期定了→

Core Viewpoint - Moer Technology, known as the "Chinese version of Nvidia," is set to launch its initial public offering (IPO) on the Sci-Tech Innovation Board, with a total of 70 million shares being offered, accounting for 14.89% of the post-issue total share capital [1] Company Overview - Moer Technology focuses on the research, design, and sales of full-function GPU products, making it one of the few domestic companies that integrate graphics rendering and AI computing [1][2] - The company has successfully launched four generations of GPU architectures and has developed a comprehensive product matrix covering AI computing, cloud computing, and personal computing [2] Market Position - Moer Technology is a leading player in the domestic GPU sector, having achieved significant technological breakthroughs with its self-developed MUSA architecture, which supports AI computing acceleration, graphics rendering, physical simulation, and scientific computing on a single chip [3] - Despite its advancements, the company acknowledges a gap in comprehensive R&D capabilities and product ecosystem compared to international giants like Nvidia [3] Fund Utilization - The funds raised from the IPO will be allocated to the development of next-generation self-controlled AI training and inference chips, graphics chips, and AI SoC chips, as well as to supplement working capital [4] Financial Performance - From 2022 to 2024, Moer Technology's revenue is projected to grow from 46 million to 438 million, with a compound annual growth rate of 208.44%; for the first half of 2025, revenue reached 702 million [4] - The company has not yet achieved profitability, reporting net losses of 1.894 billion, 1.703 billion, 1.618 billion, and 271 million for the years 2022, 2023, 2024, and the first half of 2025, respectively [4]