国内GPU龙头 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][6]. Company Overview - Muxi Co. is a rare full-stack GPU manufacturer in China, focusing on the research, design, and sales of GPU products for AI training, inference, general computing, and graphics rendering [1][2]. - The company has a strong core team, with founders coming from AMD, and is one of the few in China with comprehensive capabilities in high-performance GPU chip development and production [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 projected -1.4 billion yuan in 2024 [3]. IPO Details - Muxi Co. issued 40.1 million shares and raised approximately 4.1969 billion yuan, with funds allocated to three key projects, including high-performance GPU development [3][5]. - The company's price-to-sales ratio (TTM) is 23.84, significantly lower than the average of comparable companies at 140.34 [5]. Market Sentiment - The recent trend in the new stock market shows an average first-day increase of 348.19% for newly listed stocks, with Muxi Co. expected to achieve a similar performance [4][6]. - The high issuance price of 104.66 yuan per share places Muxi Co. among the higher-priced stocks in the Sci-Tech Innovation Board, which may influence its market performance [5][6].