Core Viewpoint - Muxi Integrated Circuit (Shanghai) Co., Ltd. has officially listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board, marking a significant milestone for the company and the domestic GPU industry [1][3]. Company Overview - Muxi Co. is a leading domestic enterprise in high-performance general-purpose GPU products, focusing on the research, design, and sales of GPU chips and computing platforms for AI training and inference, general computing, and graphics rendering [3][4]. - The company has a strong technical foundation and continuous innovation, positioning its products as leaders in versatility, core performance, commercialization, and autonomy in the domestic market [3]. Financial Highlights - The stock price for the IPO was set at 104.66 yuan per share, raising a total of 4.197 billion yuan [3]. - The funds raised will be directed towards projects for new high-performance general-purpose GPU development, next-generation AI inference GPU development, and high-performance GPU technology research for emerging applications [3]. Market Position and Growth - Muxi Co. is one of the few companies in China that has mastered the technology for high-performance GPU chips and their foundational system software, which will help the company expand its market share and enhance its technological reserves [4][6]. - The company has achieved a compound annual growth rate of 4074.52% in revenue over the past three years, with revenue reaching 915 million yuan in the first half of 2025, surpassing the total for 2024 [8]. Technological Advancements - Muxi Co. has developed a series of core technologies with independent intellectual property rights, including GPU IP, GPU SoC, and high-speed interconnects, and has accumulated 245 domestic invention patents [6]. - The company has launched the Xisi N series GPU for intelligent computing inference and the Xiyun C series GPU for integrated training and general computing, with the Xiyun C500 series achieving leading performance levels domestically [7]. Strategic Initiatives - Muxi Co. is constructing a "1+6+X" ecosystem and business layout, focusing on providing high-efficiency and versatile computing power for cloud computing, particularly in sectors such as finance, healthcare, energy, education, transportation, and entertainment [8]. - The company's GPU products have been deployed in multiple national AI public computing platforms and commercial intelligent computing centers, making it one of the few suppliers to achieve large-scale commercial applications of "thousand-card clusters" [8].

Core Viewpoint - Muxi Co., Ltd. (688802) experienced a significant stock price surge of 568%, opening at 700 CNY per share, with a potential profit of nearly 300,000 CNY for investors holding one lot [1] Company Overview - Muxi Co., Ltd. focuses on the independent research and development of high-performance GPU chips and computing platforms, with key products including the Xisi N series GPU for intelligent computing inference, the Xiyun C series GPU for training and general computing, and the upcoming Xicai G series GPU for graphic rendering [1] - The latest product, the Xiyun C600 series, offers performance between NVIDIA's A100 and H100 GPUs, achieving a closed-loop domestic supply chain from chip design to packaging and testing, with risk mass production expected by the end of this year and formal mass production in the first half of next year [1] Financial Performance - Muxi Co., Ltd. reported revenues of 426,400 CNY, 53,021,200 CNY, and 743,000,000 CNY for the years 2022 to 2024, respectively, indicating a compound annual growth rate (CAGR) of 4074.52% over the last three years [1] - In the first three quarters of this year, the company's revenue grew by 453.52% year-on-year, reaching 1,236,000,000 CNY [1]