Nvidia(US:NVDA) Sou Hu Cai Jing·2025-11-27 14:05Group 1 - The core focus of the news is on the rapid IPO process of Moer Thread, which is set to become the second-largest IPO in A-shares for 2025, with a fundraising target of 8 billion yuan [1][2] - Moer Thread is often referred to as "China's Nvidia," with its main product being GPUs, and its founders and key technical staff being former Nvidia employees [1][3] - The company has a very low subscription rate of 0.036%, indicating a highly competitive IPO environment [3][11] Group 2 - The highest IPO price in A-shares for 2025 is set by Moer Thread at approximately 114 yuan per share, making it the most expensive new stock this year [3][4] - Moer Thread's total market capitalization upon issuance is estimated to be around 53.7 billion yuan, with a projected revenue of 1.1 billion yuan for the year [5][6] - Comparatively, the average price-to-sales ratio of its peers is about 55 times, suggesting a potential valuation of 60.5 billion yuan for Moer Thread, indicating a possible upside of 13% from its issuance price [4][6] Group 3 - The news highlights the performance of other companies in the AI computing sector, with significant first-day gains for stocks like Cambrian and Haiguang Information, which saw increases of over 200% and 67% respectively [10][11] - The average first-day gain for stocks on the Sci-Tech Innovation Board is around 127%, with a median of 89% [9][11] - Investors in Moer Thread's Pre-IPO round could see substantial returns, with potential gains exceeding 50% based on the issuance price [11]