Zheng Quan Shi Bao·2025-12-10 19:57Core Viewpoint - Moore Threads has successfully gone public, leading to a significant increase in its stock price, which is expected to benefit several A-share companies, particularly Century Huatong [1] Group 1: Century Huatong's Investment in Moore Threads - Century Huatong's wholly-owned subsidiary, Shanghai Shengqu Shuming Enterprise Management Co., holds a 7.31% stake in Guosheng Capital, which owns 19.5887 million shares of Moore Threads, representing 4.90% of the total shares before the IPO and 4.17% after [2] - The fair value of Century Huatong's stake in Guosheng Capital is classified as a financial instrument measured at fair value with changes recognized in profit or loss, reported under "other non-current financial assets" [2] - Based on Moore Threads' closing price on December 10, 2025, the estimated impact on Century Huatong's net profit for Q4 2025 is approximately 640 million yuan, accounting for 53% of the audited net profit attributable to shareholders for the fiscal year 2024 [2] Group 2: Performance of Moore Threads - Moore Threads experienced a remarkable first-day increase of 425.46% after its listing on December 5, and on December 10, its stock price rose to 735 yuan per share, with a market capitalization reaching 345.5 billion yuan [3] - Century Huatong has invested in Moore Threads for several years, focusing on the metaverse hardware ecosystem, including investments in leading companies like Guangzhou Semiconductor and Moore Threads [3] - Moore Threads aims to develop a new generation of GPUs for metacomputing applications, creating a comprehensive computing platform that integrates visual computing, 3D graphics, scientific computing, and AI computing [3] Group 3: Century Huatong's Financial Performance - Century Huatong reported a significant revenue increase of 75.3% year-on-year, reaching 27.2 billion yuan in the first three quarters of this year, with a net profit of 4.36 billion yuan, reflecting a year-on-year growth of 141.7% [3] - The company's stock has risen over 240% this year, with a current market capitalization of 130.5 billion yuan [4] Group 4: Other A-share Companies' Involvement - Other A-share companies, such as Heertai, have also invested in Moore Threads, with Heertai holding 4.1051 million shares, valued at approximately 3 billion yuan based on Moore Threads' closing price on December 10 [4]