Core Viewpoint - The announcement by Moer Thread to use up to 7.5 billion yuan of idle fundraising for cash management has sparked significant public backlash, raising questions about the appropriateness of using IPO funds for financial management instead of research and development [2][4][6]. Summary by Sections Company Announcement - On December 12, Moer Thread (688795) announced plans to use no more than 7.5 billion yuan of idle fundraising for cash management, which led to widespread criticism from the market [2]. - The company clarified that the 7.5 billion yuan is a maximum limit for cash management and that the actual amount will be significantly lower. They emphasized that the funds raised have clear project plans for R&D and technology upgrades, with a three-year implementation cycle [4][6]. Market Reaction - Investors expressed disappointment, feeling that the company should focus on R&D rather than financial management, especially given its status as the first "domestic GPU" stock [4][6]. - The market's dissatisfaction stems from a perceived mismatch between investor expectations and the company's actions, particularly in a competitive landscape where rivals like NVIDIA and AMD are heavily investing in R&D [6]. Company Performance - Moer Thread, often referred to as the "Chinese version of NVIDIA," has generated significant investor interest, achieving a record of 88 days from IPO application to approval and a stock price increase of over 600% since its listing [5][6]. - As of December 12, the company's market capitalization reached 383.02 billion yuan, reflecting its strong initial performance [5]. Future Considerations - To regain investor trust, Moer Thread needs to effectively communicate its plans for the use of IPO funds and provide timely updates on project progress [7].
摩尔线程巨额理财引“众怒”