从实验室到资本市场，沐曦股份的上市既是企业成长的注脚，更是国产GPU产业突围的缩影。当资本与 技术共振，中国高端芯片的自主之路或将迎来更广阔的想象空间。 值得关注的是，沐曦股份此次IPO共发行4010万股，占总股本的10.02%，扣除发行费用后募集资金净额 达38.99亿元。这笔资金将重点投向三大核心方向："新型高性能通用GPU研发及产业化""新一代人工智 能推理GPU研发及产业化"以及"面向前沿领域及新兴场景的高性能GPU技术研发"。这三大项目精准锚 定了当前算力需求最迫切的领域——从通用计算到AI推理，再到元宇宙、自动驾驶等新兴场景，直指 国产GPU"补短板、强长板"的关键环节。 12月17日，中国GPU赛道再迎里程碑时刻——继摩尔线程之后，国内第二家GPU企业沐曦股份正式登陆 资本市场。其上市首日表现堪称惊艳：以568.83%的涨幅高开，股价直冲700元，若投资者中一签（500 股），单签盈利可达29.77万元，市场热情可见一斑。截至发稿，其市值已飙升至2800亿元，成为A股半 导体板块的新焦点。 近年来，全球GPU市场长期被海外巨头垄断，国内企业在高端算力芯片领域面临"卡脖子"挑战。摩尔线 程与沐曦股 ...

Group 1 - The A-share market experienced a collective rebound, with the Shanghai Composite Index rising by 1.19%, the Shenzhen Component Index by 2.4%, and the ChiNext Index by 3.39%, with over 3600 stocks increasing in value [2][3] - The energy metals sector showed strong performance, with stocks like Shengxin Lithium Energy hitting the daily limit, and others like Rongjie Co. and Tianqi Lithium rising over 5% [3][15] - The newly listed stock, Muxi Co., saw a dramatic increase of 700% at opening, closing at 829.9 yuan, making it the third highest-priced stock in A-shares with a market capitalization of 3320.43 billion yuan [6][8] Group 2 - The precious metals sector, particularly silver, has outperformed gold this year, with silver prices increasing over 110%, while gold prices have remained relatively stable [10][11] - The lithium carbonate market is experiencing a surge, with prices rising by 7.61%, driven by supply disruptions and expectations of strong demand in the medium term [15][17] - The recent announcement from the Yichun Natural Resources Bureau regarding the potential cancellation of 27 mining rights has raised market interest, indicating possible supply constraints in the lithium sector [15][17]

Core Viewpoint - Muxi Integrated Circuit (Shanghai) Co., Ltd. has successfully listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board, marking it as a significant player in the domestic GPU market following Moore Threads [1][2] Company Overview - Founded in September 2020, Muxi is a major player in China's high-performance general-purpose GPU market, focusing on the independent development of full-stack high-performance GPU chips and computing platforms [2] - The founding team consists of three Chinese technical experts from AMD, with each core member having around 20 years of experience in GPU design and mass production [2] - The company's founder, Chen Weiliang, and his associates hold 22.94% of the shares, with Chen being the actual controller of the company [2] Financial Performance - As of March 2025, Muxi's cumulative GPU product sales exceeded 25,000 units, with a backlog order amounting to 1.43 billion yuan, primarily from the Xiyun C series boards [2] - The company is currently in a loss-making phase, with reported revenues of 426,400 yuan, 53.02 million yuan, and 74.3 million yuan for the years 2022 to 2024, respectively, and net losses of 777 million yuan, 871 million yuan, and 1.409 billion yuan, indicating a trend of increasing losses [2] - For the first nine months of 2025, Muxi reported revenues of 1.236 billion yuan and a net loss of 346 million yuan [2] - The company's cash flow has been negative from 2022 to 2024, with a cumulative outflow exceeding 3.8 billion yuan, and a cash flow of -902 million yuan for the first nine months of 2025, totaling over 4.7 billion yuan in losses [2] Market Response - On its first trading day, Muxi's stock price surged to 700 yuan per share, representing an increase of over 568% from the issue price of 104.66 yuan per share, and reached 820 yuan per share, marking a total market capitalization of 328.1 billion yuan [1] - The strong market interest is reflected in the subscription data, with 5.1752 million valid subscription accounts and a total of 28.862 billion shares subscribed, resulting in a low winning rate of 0.03348913% [1]

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].

今天上午，A股市场主要指数涨跌互现，截至上午收盘，上证指数涨0.17%，深证成指涨0.83%，创业板 指涨1.21%。 （原标题：A股，新纪录！一签可赚近40万） 主要行业板块和赛道方面，若按照申万一级行业划分，通信板块领涨，截至上午收盘，板块涨幅超过 3%。个股方面，联特科技涨幅超过14%，通鼎互联、长飞光纤涨停。 沐曦股份首日上市暴涨。 此外，传媒、基础化工、交通运输等板块涨幅居前；国防军工、环保、农林牧渔等板块跌幅居前。 今天（12月17日）上午，A股市场主要指数涨跌互现，创业板整体走强。 有色金属板块涨幅居前，盛新锂能涨停，中钨高新、国城矿业、中矿资源、厦门钨业、西部材料等股票 跟涨。 今天A股市场有一只新股上市，为被市场称为"国产GPU第二股"的沐曦股份，其股价盘中一度达到895 元/股，若按照此价格计算，投资者中一签沐曦股份新股浮盈接近40万元，达39.5万元，超过此前摩尔 线程创造的年内新股上市首日单签最高浮盈纪录。 创业板整体走强 恒生指数成份股中，李宁股价大幅上涨，截至发稿，该股涨超4%。本周以来，李宁股价表现较好，整 体涨势明显。 消息面上，近日李宁品牌以"龙耀开启"为主题在北京地标性商圈 ...

Core Insights - The domestic GPU sector reached a milestone with Muxi Co., Ltd. officially listing on the STAR Market, becoming the second domestic GPU company to go public after Moore Threads [1][4] - On its first trading day, Muxi's stock surged by 568.83%, opening at 700 CNY per share, allowing investors to realize a profit of nearly 300,000 CNY per lot [1][2] Company Overview - Muxi Co., Ltd. focuses on the independent research and development of high-performance GPU chips and computing platforms, covering AI computing, general computing, and graphics rendering [2][3] - The company has launched several core products, including the Xisi N series and Xiyun C series, and is developing the Xicai G series to fill gaps in the graphics rendering field [2] Financial Performance - Muxi's revenue is on a rapid growth trajectory, increasing from 426,400 CNY in 2022 to 743 million CNY in 2024, with Q1 2025 revenue reaching 320 million CNY [3] - The company aims to raise 3.904 billion CNY through its IPO to fund new high-performance GPU research and industrialization projects [3] Market Positioning - Muxi and Moore Threads, both listed on the STAR Market, are positioned in the fast-developing GPU industry, with each company having unique strengths and market strategies [4][5] - Muxi's market share in China's AI chip market is estimated to be around 1% in 2024, indicating its presence among domestic manufacturers [5] Capital Market Dynamics - The rapid growth of Muxi and Moore Threads is attributed to supportive policies and financial backing, with the STAR Market's efficient IPO review process benefiting hard-tech companies [6][7] - The listing of these companies signifies a shift from technology development to capitalized growth in the domestic GPU sector, enhancing the ecosystem for independent innovation [6][7]

沐曦股份今日登陆上交所科创板，发行价为104.66元/股。上市首日股价大幅高开，盘中最高涨幅超过700%，触及895元，最终收报 824.5元，较发行价上涨687.8%， 理论上一签最高或可盈利39.5万元，超越日前上市的摩尔线程，成为A股全面注册制以来最赚钱新股 。 沐曦股份成立于2020年9月，总部位于上海，是国内稀缺的"全栈GPU"设计与量产企业，主营高性能通用GPU芯片及解决方案，产品广泛 应用于AI智算、数据中心、云计算、自动驾驶等前沿领域 。 下载财联社APP获取更多资讯 今日早盘，A股市场沪指窄幅震荡，创业板指涨超1%。黄白二线分化明显，微盘股指数跌超1%。沪深两市半日成交额1.02万亿，较上个交 易日缩量987亿。盘面上热点快速轮动，全市场超3700只个股下跌。 从板块来看，锂矿概念走强，金圆股份4天2板，盛新锂能涨停。 中信证券金属分析师刘宇飞认为，2025年储能政策推动储能电池需求超预 期增长，单车带电量提升以及以旧换新政策带动动力电池需求提高。预计全球储能及动力电池景气度有望延续，锂盐需求料将继续超预期。 准确 快速 权威 专业 7x24h电报 头条新闻 VIP资讯 实时盯盘 ...

12月17日，钉钉客户沐曦集成电路（上海）股份有限公司（以下简称"沐曦股份"）正式在科创板挂牌上市，成为中国高性能通用GPU领域又一家迈向资本市 场的里程碑式企业。 沐曦股份致力于自主研发全栈高性能GPU芯片及计算平台，为智算、通用计算、云渲染等前沿领域提供高能效、高通用性的算力支撑，助力数字经济发展。 凭借强大的技术研发能力和持续的创新投入，沐曦股份已建立起覆盖芯片设计、软件栈开发和系统集成的完整技术体系，在GPU自主可控进程中占据重要地 位。 企业信息安全，事关GPU行业生命线。2021年起，沐曦股份将专属钉钉作为公司核心数字底座，全面启动组织协同与信息安全体系建设。通过私有化部署、 统一身份认证、数据隔离与权限分级管理，沐曦股份有力加固了企业信息安全战略。 钉钉将继续聚焦高精尖产业需求，强化平台安全性、灵活性与AI产品能力，为更多科技领军企业提供坚实的办公和业务底座，助力中国智造赢在AI时代！ / / / personal proposal proposal program and on the program and on the fir P , 11 ...

Core Viewpoint - The company Muxi Co., Ltd. has successfully launched its IPO on the A-share market, marking its position as the "second domestic GPU stock" in China, with significant initial trading gains and a strong market valuation [1] Group 1: Company Overview - Muxi Co., Ltd. focuses on the independent research and development of high-performance GPU chips and computing platforms, emphasizing self-innovation and a deep understanding of global industry trends [1] - The company has developed a comprehensive high-performance GPU product line and accumulated substantial core technologies, achieving rapid commercialization [1] Group 2: Product Development - The latest product from Muxi, the Xiyun C600 series, is expected to have performance levels between NVIDIA's A100 and H100, with risk mass production anticipated by the end of this year and formal mass production in the first half of 2026 [1] - The next-generation product, the Xiyun C700 series, will be developed based on domestic supply chains, with tape-out expected in the second half of 2026 [1] Group 3: Market Performance - Muxi's stock price surged by 568.83% during the early trading session, reaching 700 yuan, resulting in a profit of nearly 300,000 yuan for investors who received a single allotment [1] - As of the latest update, Muxi's market capitalization has exceeded 2760.8 billion yuan [1] Group 4: IPO Subscription Details - The online issuance of Muxi shares saw effective subscription from 5.1752 million accounts, with a total of 28.862 billion shares applied for [2] - The initial winning rate was 0.02223023%, which increased to 0.03348913% after the activation of the回拨机制 (reallocation mechanism), both rates being lower than that of a competitor, Moer Thread [2]

12月17日，GPU厂商沐曦股份（688802.SH）在科创板上市。本次沐曦发行价格104.66 元/股，对应发行后市值418.74亿元。开盘后，沐曦股价上涨 567.88%，盘中股价699元/股，对应市值2797亿元。投资者中一签可盈利29.7万元。 今年上半年，沐曦营收9.15亿元，同比增长404.51%，亏损1.86亿元，仍未扭亏。沐曦预计，今年前九个月营收12亿元~12.6亿元，同比增长437.36%至 464.23%，亏损3亿元~3.8亿元，同比有所减亏。 就尚未盈利的原因，沐曦提到国内GPU芯片市场长期被国外巨头垄断，国产GPU芯片渗透率低，公司智算推理GPU芯片曦思N100系列等仍处于销售规模 爬坡期，以及因实施股权激励而确认了较大金额的股份支付费用。沐曦提醒，截至今年3月末，公司合并报表未分配利润-10.48亿元，预计上市后账面累 计未弥补亏损将持续存在。该公司预计，达到盈亏平衡点的时间最早为2026年。 市场也有激烈竞争。沐曦表示，今年国内市场本土品牌AI芯片市场渗透率呈上升趋势，但尚未形成较明朗的竞争格局。据Bernstein Research以销售金额口 径测算的数据及公司结合IDC数据 ...