Core Viewpoint - Muxi Integrated Circuit (Shanghai) Co., Ltd. has officially listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board, marking a significant milestone in the domestic GPU sector as one of the "dual leaders" in the industry [1] Group 1: Listing and Market Performance - Muxi shares were issued at a price of 104.66 yuan per share, making it the second highest IPO price this year [1] - The company issued 40.1 million A-shares, with approximately 18.14 million shares circulating initially, representing only 4.53% of the total share capital [2] - On the first trading day, the opening price reached 700 yuan per share, reflecting a nearly 569% increase, and the stock price peaked at 895 yuan, over 755% higher than the issue price, with a market capitalization exceeding 350 billion yuan [2] Group 2: Business Overview - Founded in 2020, Muxi is positioned to capitalize on the surge in global AI computing demand and the push for domestic high-performance computing [2] - The company has developed multiple product lines, including the AI-specific accelerator chip Xisi N series, general-purpose computing chip Xiyun C series, and graphics rendering chip Xicai G series, with the Xiyun C500 series being the main revenue source [2] Group 3: Financial Performance - Muxi has not yet achieved profitability, with revenues for 2022, 2023, 2024, and Q1 2025 projected at 426,400 yuan, 53.02 million yuan, 743 million yuan, and 320 million yuan respectively [3] - The net profits attributable to the parent company for the same periods are projected to be -777 million yuan, -871 million yuan, -1.409 billion yuan, and -233 million yuan, indicating ongoing losses [3] - The company anticipates reaching breakeven at the earliest by 2026, with cumulative R&D expenses amounting to approximately 2.466 billion yuan from 2022 to March 2025 [3] Group 4: Investor Participation - The IPO attracted significant interest, with 269 offline investors and 7,719 strategic placement participants, resulting in a total offline subscription amount of 57.169 billion shares and a subscription multiple of 2,228 times [4] - The strategic placement included notable investors such as the National Artificial Intelligence Industry Investment Fund, with 10 strategic investors collectively allocated 760,540 shares, accounting for 18.97% of the total issuance [4] - A total of 200 public and private fund institutions participated in the offline placement, with an aggregate allocation amount of approximately 1.44 billion yuan [5]
沐曦股份登陆资本市场，单签最高赚近40万元成今年“打新之王”