“国产GPU第一股”来了，摩尔线程明日申购，发行价114.28元/股

Core Viewpoint - Moer Thread, known as the "first domestic GPU stock," is set to launch on the Sci-Tech Innovation Board with a share price of 114.28 yuan, aiming to raise 8 billion yuan in total funds [1][2]. Group 1: Company Overview - Moer Thread plans to issue 70 million shares, with a total market capitalization expected to reach 53.7 billion yuan upon listing [2]. - The company was established in June 2020 and has become one of the few domestic GPU manufacturers capable of supporting full computational precision from FP8 to FP64 [2]. - Moer Thread's founder, Zhang Jianzhong, has over ten years of experience at NVIDIA, which has influenced the company's technology direction towards "full-function GPUs" [2]. Group 2: Financial Performance - Moer Thread has shown significant revenue growth but remains in a loss-making phase, with revenues of 0.46 million yuan in 2022, 1.24 million yuan in 2023, and projected 4.38 million yuan in 2024 [3]. - The company reported a net loss of 18.94 million yuan in 2022, 17.03 million yuan in 2023, and 16.18 million yuan in 2024, with a loss of 2.71 million yuan in the first half of 2025 [3]. Group 3: Market Outlook - The demand for GPU and computing infrastructure is expected to surge due to the increasing applications of AI, with the Chinese GPU market projected to grow to 1.363 trillion yuan by 2029 [3]. - Management is optimistic about achieving profitability by 2027 based on market space, product development, and customer engagement [3].