国内全栈GPU龙头，营收高速增长，沐曦股份会是20万元“肉签”吗？

Core Viewpoint - The newly listed company, Muxi Co., is expected to perform well in the market, similar to its peer, Moer Thread, due to its high issuance price and fundraising amount, alongside strong revenue growth in the GPU sector [1][4]. Company Overview - Muxi Co. is a rare domestic full-stack GPU manufacturer, focusing on the research, design, and sales of full-stack GPU products for AI training, inference, general computing, and graphics rendering [1][2]. - The company has a strong core team, with founders having backgrounds from AMD, and is one of the few in China mastering the core technologies of general GPU architecture and high-performance GPU chip design [2]. Industry Insights - The global GPU market is projected to grow from $77.39 billion in 2024 to $472.45 billion by 2030, with a compound annual growth rate (CAGR) of 35.19% [2]. - The Chinese GPU market is expected to reach approximately 107.3 billion yuan in 2024, reflecting a year-on-year growth of 32.96% [2]. Financial Performance - Muxi Co. reported revenues of 426,400 yuan in 2022, 5.3 million yuan in 2023, and 74.3 million yuan in 2024, with significant year-on-year growth rates of 12,334.60% and 1,301.46% respectively [3]. - The company is currently operating at a loss, with net profits of -777 million yuan in 2022, -871 million yuan in 2023, and -1.409 billion yuan in 2024 [3]. IPO Details - Muxi Co. raised approximately 4.1969 billion yuan through its IPO, with funds allocated to three key projects, including the development of high-performance general GPUs and AI inference GPUs [3][4]. - The issuance price of Muxi Co. is set at 104.66 yuan per share, which is considered high within the Sci-Tech Innovation Board context [4][5]. Market Sentiment - The recent trend in the new stock market shows an average first-day increase of 348.19% for newly listed stocks, indicating a favorable market sentiment for Muxi Co. [4][5]. - The average first-day increase for the last ten newly listed stocks on the Sci-Tech Innovation Board was 212.32%, suggesting potential for Muxi Co. to achieve similar performance [5][6].