经济观察报记者 郑晨烨 11月21日下午两点，摩尔线程创始人、董事长兼总经理张建中带着高管团队，出现在了上证路演中心的直播间里，摩尔线程首次公开发行股票并在科创板上 市网上投资者交流会准时开始了。 就在前一天晚间，这家公司敲定了科创板的发行价，114.28元/股，按此计算，其发行后总市值约为537亿元。 在上市路演长达三个小时的问答里，投资者的问题淹没了交流平台，大家抛出的问题都很直白：公司什么时候能盈利？"全功能GPU"路线，到底成色几何？ 光速过会 摩尔线程这次上市，确实赶上了一个好时候。 从6月30日受理到9月26日过会，中间只隔了88天，这个速度，放在过去两年的A股市场里，几乎是不可想象的，这背后当然有"科创板八条"的政策推力，也 有监管层对未盈利硬科技企业重新打开大门的信号。 从招股书上看，摩尔线程最显眼的变化在于营收规模的跃迁。 这是2025年以来科创板融资规模最大的IPO项目，从受理到过会，摩尔线程只用了88天。 2022年，摩尔线程还是个年入4000多万元的"小"公司；到了2024年，营收已经干到了4.38亿元；再到今年上半年，仅仅6个月，它就入账了7.02亿元。 这种成倍的增长，说明摩尔线程 ...

Core Viewpoint - Chery Automobile successfully listed on the Hong Kong Stock Exchange on September 25, 2023, raising HKD 91.4 billion, marking the largest IPO for a car company in the Hong Kong market this year [1][3]. Company Performance - Chery's public offering was oversubscribed by 238 times, setting a new record for IPO subscriptions in Hong Kong this year, indicating strong market confidence in its growth prospects [3]. - In 2024, Chery is projected to achieve revenue of CNY 269.9 billion and a net profit of CNY 14.3 billion, significantly outpacing the average growth rates of the global passenger car industry [3]. - Chery's global sales reached 2.295 million vehicles last year, making it the second-largest Chinese independent brand in passenger car sales and the eleventh globally [3]. - Chery is the only company among the top twenty global passenger car manufacturers in 2024 to report over 25% year-on-year growth in four key metrics: new energy vehicles, fuel vehicles, domestic sales, and overseas sales [3]. Market Expansion - Chery has established a global sales network covering over 100 countries and regions, with cumulative global sales exceeding 13 million vehicles since its first export in 2001 [3]. - As of March 31, 2025, Chery will have nearly 3,000 overseas dealership outlets, laying a solid foundation for future international market expansion [5]. Technological Innovation - Chery has developed a comprehensive technology system covering powertrains, platforms, intelligent cockpits, and driver assistance systems [6]. - The "Kunpeng Power" system includes core technologies such as engines, transmissions, electric drives, and battery safety [6]. - The company plans to allocate approximately 35% of the net proceeds from its IPO to research and development of various passenger car models, 25% for next-generation vehicles and advanced technologies, 20% for expanding overseas markets, and 10% for enhancing production facilities in Wuhu [6]. Local Economic Impact - Chery's listing is a significant milestone for Wuhu City, reflecting the city's efforts in nurturing listed companies and enhancing its capital market environment [7][12]. - Wuhu currently has 31 listed companies and aims to add at least four more by 2025, with a focus on fostering a multi-tiered capital market system [8][11]. - The successful IPO of Chery is expected to attract more quality enterprises and projects to Wuhu, promoting industrial clustering and innovation [13].