Core Viewpoint - The successful listing of Muxi Co., Ltd. on the STAR Market marks a significant milestone for domestic GPU companies, with the stock price soaring by 693% on its debut, leading to a market capitalization of 332 billion yuan [2][8]. Investment Highlights - Muxi Co., Ltd. had an initial public offering price of 104.66 yuan per share, which surged to a peak of 941.94 yuan during trading, closing at 829.90 yuan [2]. - The company’s original shareholders, including seven prominent investment institutions, saw a total paper profit of 75.3 billion yuan on the first day of trading [3]. - Notable investor Ge Weidong, through Shanghai Chaos Investment, holds 14.34 million shares, with a market value of 11.9 billion yuan based on the closing price, resulting in a paper profit of 11.09 billion yuan [3]. Investment Returns - The Jingwei investment group holds 18.45 million shares with an average cost of 41.52 yuan per share, resulting in a market value of 15.31 billion yuan and a paper profit of 14.54 billion yuan, achieving a return multiple of 20 times [4]. - The Sequoia Capital group holds 15.07 million shares at a cost of 53.03 yuan per share, with a market value of 12.5 billion yuan and a paper profit of 11.73 billion yuan, yielding a return multiple of 15.6 times [4]. - The Heli group holds 17.43 million shares at a cost of 13.39 yuan per share, with a paper profit of 14.22 billion yuan, ranking third in profit scale among investors [5]. Market Context - The listing is supported by favorable policies and market demand, with the STAR Market's "1+6" new policy facilitating the listing of unprofitable hard tech companies [7][8]. - The exit of NVIDIA from the Chinese market has created a significant market gap worth hundreds of billions of dollars, providing Muxi Co., Ltd. with substantial growth potential [8]. - Despite a projected net loss of 1.41 billion yuan in 2024, Muxi's core product, the Xiyun C600, is expected to enter risk production by the end of the year, which is a key factor supporting its high valuation [8].
沐曦股份上市首日暴涨693%，七大投资门派狂揽753亿元浮盈