解码“GPU明星”沐曦股份：南京国资这样“捕获”百亿级硬核IPO

Core Viewpoint - Muxi Technology, a member of the "GPU Chip Four Little Dragons," has successfully listed on the A-share market with an issue price of 104.66 yuan per share, resulting in a post-issue market capitalization of approximately 41.874 billion yuan [1]. Group 1: Financing and Investment - Prior to its IPO, Muxi Technology underwent 13 rounds of financing, raising a total of 12.64 billion yuan, with a shareholder list that includes over 100 institutions such as Guotou Fund and Sequoia China [2]. - The investment strategy involved a "cooperative fund" model, allowing Nanjing state-owned assets to indirectly support Muxi Technology without appearing directly in the shareholder list [4]. - The Nanjing government provided 1.53 million yuan in angel round financing to Muxi Technology, facilitating the establishment of its R&D center in Nanjing [6][7]. Group 2: Policy Support and Regional Development - Nanjing's policies aimed at promoting the integrated circuit industry have been crucial, with the local government offering various subsidies and support measures to attract companies like Muxi Technology [6]. - The establishment of Muxi Technology coincided with national policies favoring the integrated circuit sector, which has been a significant driver for its growth [6]. - The Nanjing Pukou District has implemented a "follow-up investment" policy, contributing 3 million yuan to Muxi Technology's fourth round of financing, which has yielded significant returns for the local government [11]. Group 3: Strategic Partnerships and Market Position - Muxi Technology's founding team includes former AMD executives, providing a strong technical foundation that has attracted significant attention from the investment community [6]. - The company has successfully built a team of nearly 100 people, becoming a key player in the regional development of the integrated circuit industry [12]. - The collaborative investment model has allowed Nanjing to leverage state capital effectively, promoting the growth of the integrated circuit sector and enhancing the local economy [14].