114.28元 摩尔线程发行价确定！战配名单出炉

Core Viewpoint - Moore Threads is set to launch its initial public offering (IPO) on the STAR Market on November 24, with an issue price of 114.28 yuan per share, resulting in a projected market valuation of approximately 53.715 billion yuan at listing, which is significantly higher than the average static price-to-sales ratio of comparable companies in the industry for 2024 [1][2]. Group 1: IPO Details - The IPO will consist of 70 million shares, with 11.2 million shares for online initial issuance, 44.8 million shares for offline initial issuance, and 14 million shares for initial strategic placement [4]. - The total expected fundraising amount is 8 billion yuan, with a net amount of approximately 7.576 billion yuan after deducting issuance costs [4]. - The funds raised will primarily be used for the development of next-generation AI training and inference chips, graphics chips, and AI SoC chips, as well as to supplement working capital [4]. Group 2: Market Response - The offline effective subscription multiple exceeded 1500 times, with 284 offline investors managing 7766 allocation objects meeting the conditions set forth in the issuance announcement [3][4]. - The effective subscription amount from offline investors reached 70.406 billion shares, corresponding to an effective subscription multiple of 1571.56 times the initial offline issuance scale before strategic placement adjustments [4]. Group 3: Company Performance - Since its establishment in 2020, Moore Threads has focused on the independent research and design of fully functional GPUs [3]. - The company's revenue has shown continuous growth, increasing from 46 million yuan in 2022 to an estimated 438 million yuan in 2024, reflecting a compound annual growth rate of 208.44% [6]. - Despite revenue growth, the company has not yet achieved profitability, reporting net losses of 1.894 billion yuan in 2022, 1.703 billion yuan in 2023, and 1.618 billion yuan in 2024, with a projected earliest profitability in 2027 [6].