Core Viewpoint - Moer Technology plans to use up to RMB 7.5 billion of idle raised funds for cash management, effective for 12 months from board approval, to enhance fund utilization efficiency and ensure project implementation safety [1][3] Fundraising and Financial Performance - The company recently completed its IPO, raising approximately RMB 7.9996 billion, with a net amount of about RMB 7.576 billion after expenses [1][3] - In the first six trading days post-IPO, Moer Technology's stock price surged by 723.49%, reaching a peak of RMB 941.08 per share, with a market cap exceeding RMB 440 billion [1] - On December 12, the stock experienced a significant drop of over 19%, closing at RMB 814.88, but still reflecting a cumulative increase of over 613% [1] Investment Allocation - The raised funds will be allocated to three core technology projects: - New generation AI training and inference integrated chip project (approximately RMB 2.51 billion) - New generation graphics chip project (approximately RMB 2.50 billion) - New generation AI SoC chip project (approximately RMB 1.98 billion) - An additional RMB 1 billion is designated for working capital [3][4][5] Cash Management Strategy - The cash management plan aims to invest in high-security, liquid principal-protected products, including but not limited to time deposits and structured deposits, without affecting the ongoing projects [3][5] - The company emphasizes that this strategy will not impact daily operations or project progress while aiming to enhance cash asset returns for shareholders [3] Market Reaction and Future Outlook - Following the announcement of the cash management plan, investor reactions were mixed, with some questioning the decision while others supported it as a means to ensure liquidity and increase revenue [3] - Moer Technology is set to release a new generation GPU architecture on December 19-20, which has generated investor enthusiasm, leading to stock price increases of 5.73%, 16.98%, and 28.04% over three consecutive trading days [5] - The company has acknowledged the need for continued high R&D investment and product iteration, while recognizing existing gaps compared to international competitors [5][6] Financial Status - As of the first half of 2025, Moer Technology reported revenue of RMB 702 million, surpassing total revenue from 2022 to 2024, but still incurred a net loss of RMB 271 million [6] - The company anticipates achieving profitability by 2027 at the earliest, with cumulative losses of approximately RMB 1.48 billion as of June 30, 2025 [6]
摩尔线程用75亿募集资金“理财”，股民吵翻