国产GPU第二股，来了！

Group 1: Company Overview - Muxi Co., Ltd. is a leading domestic GPU company and is set to become the second domestic GPU stock after Moore Threads [1] - The company plans to issue 40.1 million shares, aiming to raise approximately 3.904 billion yuan, with an expected issue price around 100 yuan per share [1] - Muxi was established in September 2020, focusing on the research, design, and sales of high-performance GPU chips and computing platforms for AI training, general computing, and graphics rendering [1] Group 2: Financial Performance - Muxi has not yet achieved profitability, with revenues of 426,400 yuan in 2022, projected to grow to 743 million yuan by 2024, while net losses are expected to increase from 777 million yuan in 2022 to 1.409 billion yuan in 2024 [2] - In the first three quarters of 2025, Muxi reported revenues of 1.236 billion yuan with a net loss of 346 million yuan [2] Group 3: Shareholder Structure - Muxi's shareholder structure includes prominent venture capital firms such as Sequoia China and Matrix Partners, as well as state-owned platforms like the National Investment Fund and Shanghai Science and Technology Innovation Fund [1] Group 4: Industry Context - Moore Threads, which is also undergoing an IPO, is recognized as the first domestic GPU stock, with a high issue price of 114.28 yuan per share and a total fundraising amount of 8 billion yuan, marking the largest IPO on the Sci-Tech Innovation Board this year [4] - Angrui Microelectronics, another company in the semiconductor sector, focuses on RF and analog integrated circuit design, with plans to issue 24.8829 million shares [4]