摩尔线程发布上市后首份业绩预告

Core Viewpoint - The company, Moore Threads, anticipates a net loss of between 950 million to 1.06 billion yuan for the year 2025, indicating a year-on-year reduction in losses of 34.50% to 41.30% [1]. Group 1: Financial Performance - The expected net profit attributable to shareholders for 2025 is projected to be a loss of 950 million to 1.06 billion yuan, with a year-on-year reduction in losses of 34.50% to 41.30% [1]. - The expected net profit excluding non-recurring gains and losses is projected to be a loss of 1.04 billion to 1.15 billion yuan, with a year-on-year reduction in losses of 29.59% to 36.32% [1]. - As of January 21, the company's stock closed at 627.3 yuan, with a market capitalization of 294.8 billion yuan [2]. Group 2: Product Development and Market Position - The company has focused on the research and innovation of full-function GPUs, successfully launching the flagship MTTS5000 GPU, which has achieved market-leading performance and has entered mass production [1]. - A large-scale cluster based on the MTTS5000 has been completed and is operational, efficiently supporting the training of trillion-parameter large models, with computational efficiency on par with advanced international GPU clusters of the same generation [1]. - Despite the growth in revenue and gross profit due to the booming AI industry and strong demand for high-performance GPUs, the company still faces gaps in R&D strength, core technology accumulation, and product customer ecosystem compared to international giants [2]. Group 3: Research and Development Investment - The company maintains high R&D investment levels and is still in a phase of continuous R&D investment, indicating it has not yet achieved profitability and has accumulated unrecouped losses [2].