Core Viewpoint - The company plans to use a total of up to 200 million yuan in raised funds to provide loans to its wholly-owned subsidiary, Nanjing Muxi Integrated Circuit Co., Ltd., for the implementation of the fundraising project "Research and Industrialization of New High-Performance General-Purpose GPU" [1] Group 1 - The total amount of funds to be raised is not to exceed 200 million yuan [1] - The funds will be directed towards the subsidiary Nanjing Muxi for a specific project [1] - The project focuses on the research and industrialization of new high-performance general-purpose GPUs [1]

Core Viewpoint - The domestic GPU manufacturer Muxi Co., Ltd. has announced the subscription situation and lottery rate for its public offering on the Sci-Tech Innovation Board, indicating strong investor interest with a high subscription multiple and the implementation of a mechanism to adjust the allocation of shares between online and offline investors [1][6]. Group 1: Subscription Situation and Initial Lottery Rate - The number of valid subscription accounts for the online offering was 5.1752 million, with a total of 28.862 billion shares subscribed, resulting in an initial lottery rate of 0.02223023% [3][4]. - The total number of allocation numbers was 57,723.209, with the range from 100,000,000,000 to 100,057,723,208 [4]. Group 2: Implementation of Reallocation Mechanism and Final Lottery Rate - Due to the initial subscription multiple of approximately 4,498.38 times, which exceeded 100 times, a reallocation mechanism was activated, transferring 3.2495 million shares from offline to online [5]. - After the reallocation, the final number of shares issued offline was 2.28291 million, accounting for 70.26% of the total issuance after deducting the final strategic placement, while the final number of shares issued online was 966.55 thousand, accounting for 29.74%, resulting in a final lottery rate of 0.03348913% [5]. Group 3: Upcoming Lottery Drawing - The lottery drawing for the online subscription is scheduled for December 8, 2025, at a designated location in Shanghai, with results to be published on the Shanghai Stock Exchange website on December 9, 2025 [5]. Group 4: Company Overview and IPO Details - Muxi Co., Ltd. was established in September 2020 and focuses on developing a full-stack GPU chip product line, including the Xisi N series for intelligent computing inference, the Xiyun C series for general computing, and the Xicai G series for graphics rendering [7]. - The company aims to raise 3.904 billion yuan through its IPO to fund projects related to the development and industrialization of new high-performance general-purpose GPUs, AI inference GPUs, and GPU technology for emerging applications [7][6].

Core Viewpoint - The Shanghai Stock Exchange's Listing Review Committee has approved the IPO application of Muxi Integrated Circuit (Shanghai) Co., Ltd., marking another case of the "1+6" reform initiative in the Sci-Tech Innovation Board after its implementation [1]. Group 1: Company Overview - Muxi Co. is a leading enterprise in the domestic high-performance general-purpose GPU market, focusing on the independent research and development of full-stack high-performance GPU chips and computing platforms [1]. - The main business of Muxi Co. includes the research, design, and sales of full-stack GPU products used in artificial intelligence training and inference, general computing, and graphics rendering [1]. Group 2: IPO Details - Muxi Co. plans to raise 3.904 billion yuan through its IPO, with the funds allocated for the development and industrialization of new high-performance general-purpose GPU projects, next-generation AI inference GPU projects, and high-performance GPU technology research for emerging applications [1].

Group 1 - The core viewpoint of the article is that domestic GPU manufacturer Muxi Co., Ltd. has received approval from the listing committee for its IPO on the Sci-Tech Innovation Board, aiming to raise 3.904 billion yuan [1] - The funds from the IPO will be allocated to three main projects: the development and industrialization of new high-performance general-purpose GPUs, the development and industrialization of next-generation AI inference GPUs, and the R&D of high-performance GPU technologies for cutting-edge fields and emerging application scenarios [1]

Core Viewpoint - Muxi Integrated Circuit (Shanghai) Co., Ltd. is set to have its Sci-Tech Innovation Board IPO application reviewed on October 24, aiming to raise 3.904 billion yuan for the development and industrialization of new high-performance general-purpose GPUs [1] Company Overview - Muxi was established in 2020 and specializes in full-stack GPU products [1] - The company's flagship product, the Xiyun C500 series chip, has become the main revenue driver, projected to account for 97.28% of the main business revenue in 2024 [1]