沐曦股份，12月5日申购

Core Viewpoint - Muxi Co., Ltd. is set to launch its initial public offering (IPO) on the Sci-Tech Innovation Board, with a total issuance of 40.1 million shares, aiming to raise funds for the development of high-performance GPU products and related technologies [1][3]. Group 1: IPO Details - The company plans to issue 40.1 million shares, with an initial strategic placement of 8.02 million shares [1]. - The pricing mechanism includes offline inquiries to determine the issue price, with no cumulative bidding for offline subscriptions [2]. - The total share capital before the issuance is 36 million shares, and the issuance will account for 10.02% of the total post-issue share capital [2]. Group 2: Financial Performance - Muxi Co., Ltd. has not yet achieved profitability, with projected revenues of 426,400 yuan, 53.02 million yuan, and 740 million yuan for the years 2022, 2023, and 2024 respectively, and net losses of 777 million yuan, 871 million yuan, and 1.409 billion yuan for the same years [3][5]. - As of Q1 2025, the company reported revenues of 320 million yuan and a net loss of 233 million yuan [3]. - The total assets as of March 31, 2025, are approximately 1.046 billion yuan, with a debt-to-asset ratio of 8.30% [4]. Group 3: Product and Market Focus - Muxi Co., Ltd. specializes in high-performance GPU products, focusing on artificial intelligence training, general computing, and graphics rendering [3]. - The company has launched several GPU series, including the Xisi N series for inference and the Xiyun C series for training and general computing, with ongoing development of the Xicai G series for graphics rendering [3]. - The funds raised from the IPO will be allocated to projects aimed at developing new high-performance general-purpose GPUs and AI inference GPUs [3].