Cai Jing Wang·2025-12-11 01:24Core Viewpoint - Moore Threads has successfully gone public, leading to significant stock price increases, which may benefit several A-share companies, particularly Century Huatong [1][2]. 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 pre-IPO total shares and 4.17% post-IPO [1]. - The fair value of Century Huatong's stake in Guosheng Capital is classified as "financial instruments measured at fair value with changes recognized in profit or loss," reported under "other non-current financial assets" [1]. - 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 2024 [1]. Group 2: Market Performance and Future Outlook - After its IPO on December 5, Moore Threads' stock surged by 425.46%, reaching 735 yuan per share on December 10, with a market capitalization of 345.5 billion yuan [2]. - 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 [2]. - Century Huatong reported a significant revenue increase of 75.3% year-on-year, with total revenue of 27.2 billion yuan and a net profit of 4.36 billion yuan, up 141.7% year-on-year for the first three quarters of the year [2]. Group 3: Other A-share Companies Involved - Other A-share companies, such as Heertai, have also invested in Moore Threads, with Heertai holding approximately 4.1051 million shares, valued at around 3 billion yuan based on Moore Threads' closing price on December 10 [3].