Core Insights - The stock price of Moer Thread (688795.SH), the first domestic GPU company listed on the Sci-Tech Innovation Board, surged to 941.08 CNY per share, achieving a market capitalization of 403.1 billion CNY within just five trading days since its listing on December 5, marking the fastest market cap growth for a new stock in 2023 [1][2] Group 1: Stock Performance - Moer Thread's stock price increased by over 700% within five trading days, starting from an opening price of 650 CNY per share on its debut, which was a 468.78% increase from the issue price [2] - On its first trading day, the stock reached a peak of 688 CNY per share, closing at 600.5 CNY, resulting in a single-day gain of 425.26% and a market cap exceeding 282.3 billion CNY [2] - Investors who held onto their shares since the IPO have seen significant profits, with a potential gain of 413,400 CNY for a single lot of 500 shares at the closing price on December 11 [2] Group 2: Market Demand and Policy Support - The rapid growth of Moer Thread's valuation is attributed to three main factors: scarcity of comparable stocks, policy support, and strong industry demand [4] - Moer Thread is recognized as the only domestic company capable of competing with NVIDIA in the GPU market, having developed five chips and four generations of GPU architecture within five years [4] - The company benefits from favorable policies, including the rapid IPO process enabled by the "1+6" reform policy for the Sci-Tech Innovation Board, which supports unprofitable hard-tech companies and prioritizes strategic emerging industries [5] Group 3: Industry Context - The demand for domestic GPU solutions is critical due to increasing technology competition between China and the U.S., with a national strategy emphasizing the need for domestic computing power [5] - Currently, domestic GPUs hold less than 1% market share in China, indicating significant potential for growth and replacement [5] - Moer Thread's listing serves as a benchmark for the domestic GPU sector, potentially catalyzing further investment and development in the industry [6] Group 4: Future Prospects - Following Moer Thread's success, other companies like Muxi Co., which focuses on high-performance GPU chips, are preparing to enter the market, indicating a growing interest in the domestic GPU sector [6] - Muxi Co. has already completed its subscription process and is expected to be the second domestic GPU company listed on the A-share market, with a strong market response anticipated [6][7]
摩尔线程市值破4000亿，沐曦股份能否“接力”？