据了解，壁仞科技和摩尔线程、沐曦股份、燧原科技一起被称作"国产GPU四小龙"，目前这四家公司除摩尔线程已上 市外，其他三家均开启了IPO征程，沐曦股份将于12月17日在科创板上市。 壁仞科技是一家研发高性能通用GPU的公司，公司成立于2019年，比摩尔线程、沐曦股份稍早。壁仞科技致力于打造 自主原创的高性能GPU软硬件体系，构建国产智能计算产业生态。首代基于原创训推一体芯片架构的壁仞科技通用 GPU产品已在多地智算中心落地。 "国产GPU四小龙"之一的壁仞科技加速上市步伐。 12月15日，据中国证监会官网，上海壁仞科技股份有限公司（简称"壁仞科技"）获得境外发行上市备案通知书。壁仞 科技拟发行不超过3.72458亿股普通股，并在香港联合交易所上市流通。这意味着，港股或将迎来"GPU第一股"。 | 2020-06-16 ● 融资 11亿元 | | --- | | A轮 IDG资本、启明创投、国开熔华、珠海格力 | | 相关新闻 > 集团、普罗资本、云晖资本、华登国际、华 | | 映资本、耀途资本、松禾资本、广微控股 | | 2019-12-09 ● 鸿灏资本 | | 天使轮 | 目前，壁仞科技已经实现中国首个4 ...

"国产GPU四小龙"之一的壁仞科技加速上市步伐。 12月15日，据 中国证监会官网，上海壁仞科技股份有限公司（简称 "壁仞科技"）获得境外发行上市备案通知书 。 壁仞科技 拟发行不超过 3.72458亿股普通股， 并在香港联合交易所上市 流通 。 这意味着，港股或将迎来 " GPU第一股"。 据了解，壁仞科技和摩尔线程、沐曦股份、燧原科技一起被称作"国产GPU四小龙"，目前这四家公司除摩尔线程已上市外， 其他三家均开启了IPO征程，沐曦股份将于12月17日在科创板上市。 壁仞科技是一家研发高性能通用GPU的公司，公司成立于2019年，比摩尔线程、沐曦股份稍早。壁仞科技致力于打造自主原 创的高性能GPU软硬件体系，构建国产智能计算产业生态。首代基于原创训推一体芯片架构的壁仞科技通用GPU产品已在多 地智算中心落地。 目前，壁仞科技已经实现中国首个4种及以上异构芯片混训技术落地，突破了"算力孤岛"难题。从合作伙伴来看，中国移动、 中国电信、中兴通讯、上海人工智能实验室等都在壁仞科技的"朋友圈"。 中国信通院相关研究报告显示，从技术路线来看，国产AI芯片主要分为三类：一是以寒武纪为代表的NPU路线，专注于神经 网络 ...

中新经纬 "您已中签沐曦股份。"回想起中签时的场景，来自广州的紫苏（化名）仍难掩兴奋。 近日，"国产GPU第一股"摩尔线程上市首日开盘即暴涨468.78%。11日，摩尔线程股价再度拉升，盘中 股价最高达941.08元/股，创历史新高。在这一行情带动下，被市场视为"国产GPU第二股"的沐曦股份也 备受关注。 沐曦股份确定12月17日科创板上市，其上市后将有怎样的表现，成为不少投资者关心的话题。 "闭眼打新，几乎没有亏的可能" 当股票软件弹出沐曦股份的新股申购提示时，紫苏像往常一样，顺手点击了提交。"就像免费领一张彩 票，中不中全看运气。"紫苏表示，提交沐曦股份申购的那一刻，他并未了解这家公司的业务内容，甚 至不知道这是近期备受关注的"国产GPU第二股"。 中签结果公布后，屏幕上跳出的确认信息让他怔了一下。"真中了？"紫苏用"惊喜"来形容这种感觉，像 是突然收到了一份意外的礼物。随即，他也开始好奇，沐曦股份是一家做什么的公司？ "以前打新，我也都是中签后才开始了解公司。"在紫苏看来，A股打新就是像一场概率游戏，工作不忙 时就登录看看，尽量不错过申购，毕竟放弃了机会就是零。 对于上市后的操作，紫苏表示，暂时没有明确 ...

Core Viewpoint - Muxi Co., Ltd. is set to be listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on December 17, 2025, marking another significant entry of a domestic GPU leader into the A-share market [2]. Group 1: IPO Details - Muxi Co., Ltd. will issue approximately 40.1 million shares at a price of 104.66 CNY per share, resulting in a total market capitalization of approximately 41.874 billion CNY post-IPO [4]. - The issuance price corresponds to a diluted price-to-sales ratio of 56.35 times for 2024, which is lower than the average of comparable companies in the industry [4]. Group 2: Financial Projections - The total amount raised from the public offering is expected to be 4.197 billion CNY, with a net amount of 3.899 billion CNY after deducting issuance costs of 298 million CNY [5]. - The funds will be allocated to the development and industrialization of new high-performance general-purpose GPUs, next-generation AI inference GPUs, and high-performance GPU technology for emerging applications [5]. Group 3: Company Performance and Market Outlook - Muxi Co., Ltd. anticipates achieving revenue between 1.5 billion CNY and 1.98 billion CNY in 2025, representing a growth of 101.86% to 166.46% compared to 2024 [6][8]. - The net loss attributable to shareholders is projected to be between 763 million CNY and 527 million CNY, indicating a reduction in losses by 45.84% to 62.59% compared to 2024 [6][8]. - The company expects to reach breakeven by 2026 based on current market demand and performance metrics [6]. Group 4: Industry Context - Muxi Co., Ltd. is recognized as a leading domestic player in high-performance general-purpose GPU products, focusing on self-developed full-stack GPU chips and computing platforms [5]. - The recent IPO of another domestic GPU leader, Moore Threads, saw a significant stock price increase, highlighting the strong market interest in GPU companies [9].

Core Viewpoint - Muxi Integrated Circuit (Shanghai) Co., Ltd. is set to be listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on December 17, 2025, marking its entry as the second domestic GPU company after Moore Threads [1][2]. Group 1: Company Overview - Muxi was founded in 2020 by former AMD employees, capitalizing on the shift in AI technology towards large models and generative AI [2]. - The company focuses on developing AI chips, particularly targeting the inference segment of AI applications, with its first inference chip, Xisi N100, delivered in January 2022 and mass-produced in April 2023 [2][3]. - Muxi aims to create a "Chinese version of AMD" by developing general-purpose GPUs (GPGPU) that emphasize AI and high-performance computing capabilities [4][6]. Group 2: Product Development - Muxi has launched several GPU products, including the Xisi N series for inference and the Xiyun C series for training and inference integration, with the Xiyun C500 officially mass-produced in February 2024 [7][11]. - The company is also developing the next-generation Xiyun C600 series and the Xisi N series for rendering, aiming to cover AI computing, general computing, and graphics rendering [11][12]. Group 3: Market Position and Financial Performance - Muxi's GPU products have achieved cumulative sales of over 25,000 units by March 2025, with applications in various AI public computing platforms [3]. - The company reported significant revenue growth, with revenues of 42.64 million yuan in 2022, 530.21 million yuan in 2023, and projected revenues of 743 million yuan in 2024, reflecting a compound annual growth rate of 4074.52% over three years [18]. - Despite rapid revenue growth, Muxi has not yet achieved profitability, with net losses of 7.77 billion yuan in 2022, 8.71 billion yuan in 2023, and 14.09 billion yuan in 2024, totaling over 30 billion yuan in losses [20]. Group 4: Investment and Future Outlook - Muxi plans to use the funds raised from its IPO for the research and industrialization of new high-performance general-purpose GPUs and AI inference GPUs [11][12]. - The company expects to reach a breakeven point by 2026, driven by the increasing commercialization of its core products [17][20]. - Muxi's market share in the Chinese AI accelerator market is approximately 1%, positioning it among the leading domestic GPU manufacturers [24].

Group 1 - The core point of the article is that Biran Technology plans to issue up to 372 million overseas listed common shares and list them on the Hong Kong Stock Exchange, while 57 shareholders intend to convert a total of 873 million unlisted domestic shares into overseas listed shares for circulation on the same exchange [3] - Biran Technology was established in 2019 and focuses on developing high-performance general-purpose GPUs, aiming to create an independent and original GPU hardware and software system [3] - The company has successfully implemented multiple products from its Bili series in various intelligent computing centers across different regions [3] Group 2 - As of now, Biran Technology has applied for over 1,200 patents globally and has received authorization for more than 430 patents [3]

（原标题：沐曦股份冲刺"国产GPU第二股" 技术成色能否支撑资本估值？） 继摩尔线程成为"国产GPU第一股"后，沐曦集成电路（上海）股份有限公司（以下简称"沐曦股份"）正 向第二股发起最后冲刺。 沐曦股份的科创板IPO申请于6月30日获得受理，于10月24日获得上市委会议通过。11月12日，证监会 已同意沐曦股份首次公开发行股票并于科创板上市的注册申请。12月9日，网上、网下投资者的认购缴 款工作全部结束。目前，沐曦股份正处于上市前的最后准备阶段。 摩尔线程登陆科创板后的股价狂飙，已将资本市场对国产GPU赛道的追捧推向高潮。接下去，头顶"国 产GPU第二股""年内第二贵新股"双重头衔的沐曦股份，能否再创资本狂欢？ 从推理AI芯片入局 2020年，随着人工智能技术从"小模型+判别式"转向"大模型+生成式"，陈维良、彭莉等踏准鼓点，离开 AMD创立了沐曦。 彼时在全球范围内，AI芯片已经基本形成了由英伟达（NVIDIA）和超威半导体（AMD）组成的"一超 一强"寡头垄断格局。 然而在中国，受到美国高性能AI芯片出口管制与国内自主可控市场发展等因素影响，国产AI芯片公司 迎来黄金发展期：2019年壁仞科技成立，20 ...

Core Viewpoint - Wallen Technology, a domestic GPU manufacturer, has chosen to list on the Hong Kong Stock Exchange instead of the A-share Sci-Tech Innovation Board, amidst the ongoing hype surrounding its competitor, Moore Threads [1][2]. Group 1: Company Overview - Wallen Technology was founded in 2019 and focuses on developing original general computing systems and efficient hardware-software platforms, aiming to provide integrated solutions in the intelligent computing sector [4]. - The company has successfully launched its first domestic high-end general GPU, the Bili series, which is now in mass production [4]. Group 2: Financing and IPO Details - Wallen Technology plans to issue up to 372,458,000 shares for its overseas listing and convert 873,272,024 shares held by 57 shareholders into shares for trading on the Hong Kong Stock Exchange [1]. - The total amount raised through public financing has exceeded 5 billion RMB, with investments from notable firms such as Qiming Venture Partners, IDG Capital, and Hillhouse Capital [4]. Group 3: Industry Context - The domestic GPU "Four Little Dragons," including Wallen Technology, Moore Threads, Suiyuan Technology, and Muxi, have all initiated their IPO processes, but with varying progress [5]. - As of 2024, Suiyuan Technology has received approval for its IPO counseling, while Wallen Technology has also begun its IPO journey with the support of Guotai Junan Securities [5][6].

沐曦股份公告，公司股票将于2025年12月17日（周三）在上海证券交易所科创板上市。 版权声明 证券时报各平台所有原创内容，未经书面授权，任何单位及个人不得转载。我社保留追 究相关 行 为主体 法律责任的权利。 值得注意的是，沐曦股份发行价为104.66元/股，在年内发行的科创板新股中仅次于摩尔线程的114.28 元/股，位居年内科创板第二高，其网上弃购金额也低于摩尔线程（334.86万元）。 转载与合作可联系证券时报小助理，微信ID：SecuritiesTimes 据了解，沐曦股份是国内高性能通用GPU产品的主要领军企业，成功上市后，公司将成为继摩尔线程之后 第二家登陆A股市场的国产GPU公司。 END 根据招股书，沐曦股份致力于自主研发全栈高性能GPU芯片及计算平台，公司主营业务是研发、设计和销 售应用于人工智能训练和推理、通用计算与图形渲染领域的全栈GPU产品，并围绕GPU芯片提供配套的软 件栈与计算平台。自成立以来，公司始终专注于GPU产品的技术创新和迭代升级，形成了独具优势的GPU 产品体系和自主开放的软件生态，持续为云端计算提供高能效、高通用性的算力支撑，推动人工智能赋能 千行百业，重点布局了教科 ...

Group 1 - The core viewpoint of the article is the upcoming listing of Muxi Co., Ltd. on the Shanghai Stock Exchange's Sci-Tech Innovation Board, marking it as the second domestic GPU company following Moore Threads [1] - Muxi Co., Ltd. will be listed on December 17, with an issuance price of 104.66 yuan per share, resulting in a post-issuance market capitalization of 41.874 billion yuan [1] - The company has not yet achieved profitability and will be classified under the Sci-Tech Growth Tier upon listing, as per the relevant regulatory guidelines [1] Group 2 - Muxi Co., Ltd. focuses on the independent research and development of high-performance GPU chips and computing platforms [1] - The main business activities include the research, design, and sales of full-stack GPU products applicable to artificial intelligence training and inference, as well as general computing and graphics rendering [1] - The company also provides supporting software stacks and computing platforms around its GPU chips [1]