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Core Viewpoint - The strategic placement of shares in Moer Technology reflects strong institutional confidence in the company's potential and technological capabilities, particularly in the GPU sector, which is crucial for AI and high-performance computing applications [1][3][4] Group 1: Share Subscription Results - The offline subscription for Moer Technology's shares totaled 70.406 billion shares, with an initial allocation of 39.2 million shares [1] - Institutional investors, including public funds, social security funds, and qualified foreign investors, received approximately 38.5896 million shares, accounting for 98.44% of the offline allocation [1] Group 2: Investor Composition - The investor base includes four main categories: 1. Subsidiaries of sponsoring institutions, such as CITIC Securities, which indicates strong backing for the company's growth potential [1] 2. Senior management and core employees participating through a dedicated asset management plan, reflecting their confidence in the company's long-term strategy [2] 3. Large enterprises with strategic partnerships, including Tianyi Capital and Meituan's subsidiary, showcasing a commitment to collaboration [2] 4. Large insurance companies and national investment funds, emphasizing the robust support from institutional investors [3] Group 3: Company Overview and Technology - Since its establishment in 2020, Moer Technology has focused on the independent research and development of full-function GPUs, aligning with national strategic goals [3] - The company has achieved significant technological breakthroughs, enabling simultaneous support for AI computing, graphics rendering, and other advanced computing tasks on a single chip architecture [3] - Moer Technology has produced five chips and developed four generations of GPU architectures, creating a comprehensive product matrix that supports various computing scenarios [4] Group 4: Future Plans and Market Outlook - The funds raised from the IPO will primarily be allocated to the development of new AI and graphics chips, as well as to supplement working capital [4] - The entry of strategic investors is expected to enhance the domestic GPU industry's development and promote the self-sufficiency of GPU technology in China [4]