Core Viewpoint - The successful listing of Muxi Technology, the "second domestic GPU stock," on December 17 has generated significant investor enthusiasm, with its stock price soaring 687.79% by midday, reflecting a total market capitalization of approximately 329.88 billion yuan [2][3]. Company Overview - Muxi Technology was founded in September 2020 amid the rising trend of domestic chip replacement due to the US-China tech war, alongside other companies like Moer Technology and Birun Technology [2]. - The core founding team includes Chen Weiliang, Peng Li, and Yang Jian, all of whom have extensive experience at AMD Shanghai [3]. Shareholding Structure - After the IPO, Muxi Technology has a total share capital of 400.1 million shares, with an initial public offering of 40.1 million shares priced at 104.66 yuan each, leading to an initial market value of approximately 41.87 billion yuan [3]. - Key shareholders include Chen Weiliang with 5.03% ownership, and private equity investors such as Ge Weidong and Sequoia Capital holding significant stakes [4][5]. Financial Performance - Muxi Technology's revenue has seen rapid growth, with 2022 to 2024 revenues reported at 426,400 yuan, 5.3 million yuan, and 74.3 million yuan respectively, and a remarkable 404.51% year-on-year increase in the first half of this year, reaching 915 million yuan [6]. - Despite the revenue growth, the company has not yet achieved profitability, with net losses reported at 777 million yuan, 871 million yuan, and 1.409 billion yuan for the years 2022 to 2024, and a loss of 186 million yuan in the first half of this year [6]. Future Projections - Muxi Technology forecasts a potential revenue of 1.5 billion to 1.98 billion yuan for 2025, representing a growth of 101.86% to 166.46% compared to 2024, while still expecting a net loss of 527 million to 763 million yuan [7]. - The company anticipates reaching a breakeven point by 2026, driven by stable gross margins on its GPU products and the successful development of new products [7].
“国产GPU第二股”沐曦股份上市大涨，中一签将赚近36万